‘Republicans ran up the tab’: Democrats outraged over $40tn national debt – live

The US national debt has surpassed $40 trillion for the first time, more than doubling over the past decade. This significant increase in debt is a result of growing government spending under both the Trump and Biden administrations. The rising national debt is a concern for Democrats, who are criticizing Republicans for what they see as irresponsible spending, leading to a substantial increase in the country's financial burden.

Why it matters

The increasing national debt may lead to higher interest rates and decreased investor confidence. This could negatively impact the US economy and markets.

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