WASHINGTON (AP) — The national debt surpassed a record $40 trillion on Wednesday, a staggering milestone as defense costs, social programs like Social Security and Medicare and interest on the burgeoning deficit make up an enormous share of federal spending.

The milestone figure was recorded just five months after the U.S. hit a record $39 trillion debt in March. It reached $38 trillion five months before that, in October.

The unprecedented $40 trillion figure highlights competing administration priorities, from boosting defense spending that the U.S. relies on to carry out President Donald Trump’s almost-6-month-old war in Iran to lowering the cost of gas and groceries.

Kush Desai, a White House spokesman, said the Trump administration “has been focused on slashing waste, fraud, and abuse in federal spending while accelerating economic growth to get America’s debt-to-GDP ratio trending in the right direction.”

you are viewing a single comment's thread
view the rest of the comments
[–] [S] 14 points 2 months ago (2 children)

When I read this headline, I remember the interview in Donald's first term where he went on for five minutes about a 'beautiful piece of chocolate cake'. We're going to see a slew of books about the vulgar extent to which he enriched himself and his stupid fucking kids after he dies, but sadly, not before.

The US is nothing more than a giant ATM for a handful of people operated by a toddler.

  • source
  • hideshow 2 child comments
  • load more comments (1 reply)