The US national debt has doubled over the past decade, surpassing $40 trillion and reaching a new record high.
The figure marks a bleak milestone in the history of the United States' finances, as the country's debt burden is growing faster than estimates made just a few years ago, amid widening deficits and persistently rising interest payments.
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The national debt continues to increase at a rate of roughly $7 billion per day, according to data from the Peter G. Peterson Foundation cited by CNN on Tuesday.
The current debt is approximately twice its level a decade ago. In August 2016, total US national debt stood at just under $20 trillion before doubling over the following 10 years to reach $40 trillion.
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, told CNN that borrowing on such an unsustainable scale has major implications for the broader economy, hindering efforts to address affordability concerns and raising the risk of the country falling into a dangerous debt spiral unless lawmakers take action.
Source: CNN
