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The Guardian - US

World

Lauren Aratani

US gross national debt tops $40tn for first time

United States National Debt Tax Cuts

a building surrounded by trees — The US Department of the Treasury headquarters building in Washington DC on 27 May. Photograph: J David Ake/Getty Images

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.

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