Direct Translation via Google Translate. Edited.
 [Regnum] The US national debt has grown by a record $347.6 billion at the start of the new fiscal year. This became known on Thursday, October 3, from information published on the website of the US Department of the Treasury.
The U.S. fiscal year begins on October 1 and runs through September 30. The debt stock rose by $143.3 billion on Monday, the last day of the old fiscal year. On October 1, the first day of the new year, it rose by another $204.3 billion.
Similar indicators for the previous and the year before were lower. In 2023, at the beginning of the year, the debt increased by 315.7 billion dollars, in 2024 - by 252.2 billion.
| More debt, higher interest rates, and the power of compounding. Yay. The problem could at least be reduced of the politicians would agree to reduce spending below taxes and fees collected. Perhaps next term President Trump will be able to drive that, though he failed last time round, as well as continue the clever savings on spending he managed the last time he was in the White House. |
As of today, the total debt amounted to $35.67 trillion.
As reported by the Regnum news agency, entrepreneur Elon Musk said in September that the United States was heading for bankruptcy. He called for special attention to be paid to military-industrial complex spending - according to him, the Pentagon's annual budget was $1 trillion, and interest payments on the national debt had just exceeded the defense budget for revenues and expenditures.
At the end of July, the US national debt exceeded $35 trillion for the first time in history. In January, it exceeded $34 trillion. According to the forecast of the US Congressional Budget Office, the country's national debt will exceed $50 trillion in 2034, which will amount to more than 122% of the country's GDP. The head of the US Federal Reserve System, Jerome Powell, said that the increase in the country's national debt to the critical mark of $35 trillion makes it virtually impossible to continue borrowing. According to him, the US authorities need to take some action.
| Putting Mr. Musk in charge of finding savings would likely have brilliant results — look at how he cut spending at X. Although at some point Congress would have to pass a law getting rid of union protections and guaranteed tenure for bureaucrats. |
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