National debt passes $30 trillion for the first time in U.S. history
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(Worthy News) – The U.S. national debt passed $30 trillion for the first time in U.S. history on Tuesday, according to Treasury Department data.
When President Biden took office, the national debt stood at $21.6 trillion.
The federal government ran a budget deficit of $2.8 trillion in fiscal year 2021, according to the Bipartisan Policy Center.
The deficit slightly decreased in FY2021 from a record $3.1 trillion in FY2020, which was the year the coronavirus pandemic began, resulting in historic levels of stimulus spending. [ Source: JUst the News (Read More…) ]
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