US debt hits record high

U.S. government debt has risen to an unprecedented level, surpassing $40 trillion for the first time, setting a record amidst accelerated borrowing, rising interest costs, and increased government spending. Treasury Department data showed that the total debt reached $40.05 trillion by the end of Tuesday's trading session, after surpassing $39 trillion in March and leaving the $38 trillion threshold last October. This escalation reflects the bubble in debt driven by increased commitments to social security, healthcare, and defense programs, as well as higher interest payments, all occurring under pressure on the American administration to balance spending and reduce the fiscal deficit.

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