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The US national debt now stands at $40 trillion (apnews.com)

submitted 1 week ago by pelespirit@sh.itjust.works to c/politics@sh.itjust.works

7 comments fedilink hide all child comments

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.

top 7 comments

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[–] reddig33@lemmy.world 10 points 1 week ago (1 children)

I would upvote this post, but the story tries to blame Medicare and Social Security. Those are not the main drivers of this debt. Over half the national budget is military spending.

[–] pelespirit@sh.itjust.works 6 points 1 week ago (1 children)

It's AP, I should have known better and my bad.

[–] reddig33@lemmy.world 4 points 1 week ago* (last edited 1 week ago) (1 children)

AP is usually pretty neutral. I found this slant bizarre coming from them.

Social Security solvency is fixed pretty easily by removing the “high income” caps and making all taxpayers contribute.

[–] pelespirit@sh.itjust.works 4 points 1 week ago

AP is usually pretty neutral. I found this slant bizarre coming from them.

I disagree. You may have made that decision years ago. They suck 60-70% of the time now. Look at their board of directors if you want confirmation.

[–] ZombiFrancis@sh.itjust.works 9 points 1 week ago

defense costs, social programs like Social Security and Medicare and interest

Interest on debt is higher than social programs. The rest is just the 'defense' costs.

[–] WizardArtsPropaganda@sh.itjust.works 6 points 1 week ago

[–] homesweethomeMrL@lemmy.world 3 points 1 week ago

C’mon the US is the world’s casino and nobody bankrupts a casino!