US National Debt Breaks 39 Trillion Dollars for the First Time, Expected to Break 40 Trillion Dollars Within the Year

People’s Financial News, March 19 — Data released by the U.S. Department of the Treasury on the 18th shows that the total U.S. national debt has exceeded $39 trillion for the first time. Analysts expect that by this fall, the U.S. national debt will surpass $40 trillion. According to the Associated Press, the main drivers of the recent rise in U.S. debt are war expenditures, large-scale fiscal spending during the pandemic, and tax cut policies. White House National Economic Council Director Kevin Hasset said on the 15th that, according to estimates, the U.S. has spent over $12 billion on military actions against Iran starting from February 28. (Xinhua)