America’s debt climbs to an outstanding mark, more deficits expected to come
(KYMA, KECY/ CNN) - America's debt has now surpassed $31 trillion with outstanding debt climbing $8 trillion in just two years and $1 trillion in just eight months.
New data from the Treasury Department shows the government went on a borrowing spree during the Covid-19 pandemic to keep the U.S. economy moving.
In turn, it has the country reeling to crawl out of debt which has reached historic rates.
U.S. economists also say this could indicate a problem for the future.
Last month, the Committee for a Responsible Fiscal Budget estimated President Joe Biden's policies could add $4.8 trillion to the deficit between now and 2031.
