Milestone marks years of government spending that grew under both Donald Trump and Joe Biden
US debt reached $40tn for the first time on Wednesday, the US treasury department said, after the government deficit doubled over the last decade.
The treasury’s latest debt balance showed $40.047tn on Tuesday afternoon, the highest in US history.
The milestone marks years of government spending that grew under both Donald Trump and Joe Biden. During his first term, Trump approved $8.4tn worth of debt, with a huge chunk going to Covid-19 relief spending, while Biden approved $4.3tn worth of debt, according to the Committee for a Responsible Federal Budget.
Big corp is way too infiltrated into American politics for any tax or inheritance law reform to the detriment of the 1% to even be spoken about in the house or senate. It’s far too late to make a change “for the people”.