#USNationalDebt

**U.S. National Debt Tops $36 Trillion as Spending Debate Intensifies**

*Washington, D.C., June 2024* – The U.S. national debt has reached a historic **$36 trillion**, sparking renewed political clashes over fiscal policy ahead of the November elections. The Treasury Department's latest figures show debt surged by **$1.7 trillion** in the past 12 months alone, driven by entitlement spending, defense budgets, and rising interest costs.

**Key Developments:**

- **Interest payments** now consume 14% of federal revenue

- **Credit default swaps** on U.S. debt hit 2024 highs

- **Fed Chair Powell** warns of "unsustainable trajectory"

The White House defends its budget, while House Republicans demand spending caps. Economists warn the debt-to-GDP ratio (now 130%) could trigger:

⚠️ Dollar volatility

⚠️ Bond market stress

⚠️ Rating downgrades

*"We're mortgaging our grandchildren's future,"* says former Treasury Secretary Larry Summers.

*Wall Street Journal, June 2024*