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Financial News: US debt surpasses $30 trillion

Financial News:

US debt surpasses $30 trillion

Steven Mnuchin and wife

With government expenditure and borrowing continuing to rise, the latest Treasury Department data shows the United States national debt has reached $30 trillion.

The new record is for the entire outstanding debt of the federal government, which includes $23.487 trillion in public debt and an additional $6.525 trillion in intra-government debt, such as federal trust funds and other account.

A $5 trillion borrowing spree for pandemic relief was well underway before the coronavirus spurred an increase in Congress' spending at a regular pace.

Photo: Treasury Secretary Mnuchin requested government jet for European honeymoon. Mnuchin requested use of a government jet to take him and his wife on their honeymoon in Scotland, France and Italy earlier this summer, sparking an inquiry by the Treasury Department's Office of Inspector General.

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Content ID: 1643762448 Created Wednesday, February 02, 2022 12:40 AM UTC by Aaron Stipkovich, Updated Wednesday, February 02, 2022 2:22 PM UTC by Aaron Stipkovich.