For the First Time, US Debt Reaches USD 34 Trillion

"Untuk Pertama Kalinya, Utang AS Mencapai USD 34 Triliun" translates to "For the First Time, US Debt Reaches USD 34 Trillion".

"According to a CNN Business report on Thursday, January 4, 2023, the US Department of the Treasury recorded an increase in unpaid debt to USD 34.001 trillion as of December 29, 2023."

The amount, which is also referred to as the national debt, represents the total debt of the federal government of the United States throughout history. Just three months after the US national debt surpassed USD 33 trillion, there was a significant increase due to a soaring budget deficit. This was also marked by the gap between government spending and tax revenues.

Maya MacGuineas, kepala Komite Anggaran Federal yang Bertanggung Jawab, menilai jumlah utang terkini sebagai

"Maya MacGuineas, head of the Committee for a Responsible Federal Budget, assessed the current debt level as "a truly troubling achievement"."

The translation of "Menjadi Perdebatan." to English is "Becoming a Debate."

"Not only that, national debt has become a major point of conflict between the Republican and Democratic parties in the U.S. This increasingly complicates federal budget decision-making and threatens the possibility of periodic government shutdowns. Debt from both sides has increased in recent years. Republicans criticize the federal spending plan proposed by the Biden administration as too expensive, while Democrats argue that the tax cuts supported by Republicans in 2017 have put pressure on revenue."

The translation of "Tanggapan Juru Bicara Gedung Putih." to English is "Response from the White House Spokesperson."

The White House spokesperson, Michael Kikukawa, referred to the increase in debt as a result of the repeated policies of the Republican Party that benefit large corporations and wealthy individuals, which impacts the reduction of programs such as Social Security and healthcare services, harming American citizens.

Kikukawa stated that President Joe Biden plans to reduce the deficit by USD 2.5 trillion by proposing a fairer contribution from large and wealthy companies and cutting excessive spending for special interests, including large pharmaceutical and oil companies.

<b>Utang AS Meningkat di Masa Suku Bunga yang Tinggi.</b><br>

US Debt Increases in Times of High Interest Rates.

"Based on information from the Department of Finance, the amount of debt included in the debt ceiling, which regulates the amount of loans allowed for the government and often becomes a source of potential political conflict, has increased to USD 33.89 trillion."

"The increase in government debt burdens in the United States and other countries is becoming increasingly concerning, especially with rising interest rates that make debt payments more expensive. According to the US Department of the Treasury, net interest costs surged by 39% compared to fiscal year 2023, which ended on September 30. This is nearly double that of fiscal year 2020."

The US Department of the Treasury Plans to Take Additional Loans.

According to the Peter G. Peterson Foundation, a bipartisan group in America advocating for fiscal responsibility, the US government spends USD 2 billion every day just to pay the interest on its debt. Meanwhile, the US Department of the Treasury projects an additional borrowing of around USD 1 trillion by the end of March 2024.

News

Master the Topic, TKN Confident Prabowo Subianto is More Composed During the Second Presidential Debate

It is known that the Q&A session during the first presidential debate heated up between Prabowo Subianto and Anies Baswedan.