The U.S. national debt has hit a record $39 trillion. The deficit hit the milestone Wednesday just weeks into the U.S.-Israeli war in Iran.

The national debt surpassed a record $39 trillion on Wednesday, a milestone that comes just weeks into the U.S.-Israeli war in Iran.

The unprecedented figure highlights competing administration priorities, from passing a massive tax law and boosting defense spending and immigration enforcement to chipping away at the debt itself — the latter of which Donald Trump promised to do as both a candidate and as president.

  • Holytimes@sh.itjust.works
    7·
    16 hours ago

    Isn’t the whole fact Japan’s basically had a 0% interest rate been a massive bandaid on the global economy and with them actually removing that quickly fucking everything.

    • assaultpotato@sh.itjust.works
      8·
      15 hours ago

      Uh, vaguely, yes. They’re essentially pinned to 0% because they need to get their inflation up, but that’s not really caused by their national debt. They’re definitely not in an enviable position overall, but their 260%+ debt:gdp ratio isn’t really why.