Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: Israeli warplanes raided the outskirts of the town of Shmestar in Bekaa, eastern Lebanon
Donald Trump will speak with Russian leader Vladimir Putin on Thursday: White House
Al Mayadeen's correspondent in South Lebanon: Israeli warplanes raid the town of Bnaafoul, Saida district
YAF: Israeli enemy will pay for this crime.
Yemeni Armed Forces: Son of Major General Al-Ghamari martyred alongside him in Israeli aggression.
Yemeni Armed Forces: YAF mourns martyrdom of Chief of the General Staff Mohammad Abd al-Karim al-Ghamari.
Al Mayadeen's correspondent: Palestinian shot and killed by IOF east of Al-Bureij camp in the central Gaza Strip
Al Mayadeen's correspondent in South Lebanon: Occupation forces opened machine gun fire toward outskirts of Aitaroun as locals headed for olive harvest.
Al Mayadeen's correspondent in South Lebanon: Israeli drone drops bomb at outskirts of town of Blida as people head for olive harvest.
Israeli media: Rafah crossing was not opened as planned, and no date has yet been set for the resumption of movement through it.

US national debt exceeds $36 trillion

  • By Al Mayadeen English
  • Source: Agencies
  • 15 Nov 2024 19:17
3 Min Read

Republicans have repeatedly criticized US President Joe Biden for what they believe were actions that led to the drastic increase.

Listen
  • x
  • US national debt exceeds $36 trillion
    The Treasury Building in Washington, on May 4, 2021 (AP)

The US national debt has surpassed $36 trillion for the first time in history, according to US Debt Clock data.

According to the service's database, the "total national debt" column was a record figure of $36 trillion on November 15 after surpassing $34 billion in early January.

Previously, Republicans chastised US President Joe Biden for his actions, which, they said, contributed to the increase.

In its June report on the findings of the US economy review, the IMF emphasized the country's urgent need to address the problem of national debt, which will reach 140% of GDP by 2032. The IMF stated that the ongoing expansion of the public debt-to-GDP ratio must be addressed immediately.

According to the Fund, "Such high deficits and debt create a growing risk to the U.S. and global economy, potentially feeding into higher fiscal financing costs and a growing risk to the smooth rollover of maturing obligations."

The Congressional Budget Office predicts that by 2034, the national debt will reach $50 trillion (122% of GDP). According to the office's estimates, the average annual GDP growth rate from 2029 to 2034 will be 1.8%.

Related News

Global arms bans isolate 'Israel', yet its war machine keeps running

Ex-White House advisor accused of amassing troves of top secret files

US budget deficit hits $1.8 trillion in third record high

Last month, the US announced that its budget deficit increased to $1.8 trillion over the past year, marking the third-highest figure on record. 

On Friday, the US Treasury Department reported that the total budget gap grew by $138 billion for the fiscal year ending September 30, 2024. 

The Treasury cited a nearly 30% increase in interest payments on public debt, primarily due to rising interest rates, as a key factor in the widening deficit. 

Additionally, the deficit was partially influenced by a reversal of over $330 billion in expenses from the previous year, when the Supreme Court overturned President Joe Biden’s student loan forgiveness program. 

A White House official attributed the increase in the deficit to congressional Republicans, stating that “tax cuts led to low revenue levels that increased the debt.” 

Moreover, excessive military spending and rising Social Security costs further exacerbated the situation.

Despite the crisis, Treasury Secretary Janet Yellen claimed that the US economy has not only stayed resilient but also demonstrated growth in 2024. She further stated that the government's total debt could have reached $4.8 trillion had the Biden administration not managed to save $3 trillion.

  • United States
  • International Monetary Fund
  • US national debt
  • US economy

Most Read

Iran strikes secret Israeli-US bunker under Tel Aviv high-rise

Tel Aviv high-rise struck by Iran hid Site 81, secret US-Israeli base

  • Politics
  • 14 Oct 2025
Palestinian journalist Saleh al-Jaafarawi in an undated image in Gaza, occupied Palestine (Social media)

Gaza Palestinian journalist Saleh al-Jafarawi killed by collaborators

  • Politics
  • 12 Oct 2025
drop site

New report details extensive Israeli arson in Gaza after ceasefire

  • Politics
  • 13 Oct 2025
Illustration of fists breaking shackles, representing the liberation of Palestinian detainees from Israeli prisons. (Illustrated by: AL Mayadeen English/Batoul Chamas)

4 prominent Palestinian detainees to be freed: Who are they?

  • Palestine
  • 13 Oct 2025

Coverage

All
War on Gaza

Read Next

All
A person shops at a grocery store in Schaumburg, Ill., Thursday, September 18, 2025. (AP Photo/Nam Y. Huh)
Economy

75% of Americans report higher costs despite Trump’s inflation claim

With the government shutdown now in its third week, a sign turns away tourists at the entrance to the Capitol Visitor Center, in Washington, Wednesday, October 15, 2025. (AP Photo/J. Scott Applewhite)
Politics

US judge blocks shutdown layoffs amid Trump threats to cut jobs

Bill Ackman speaks about higher education and Harvard University at the twenty-eighth annual Milken Institute Global Conference at the Beverly Hilton in Beverly Hills, California, on May 6, 2025. (Patrick T. Fallon / AFP via Getty Images)
Politics

Bill Ackman donates $1 mln to anti-Mamdani PAC in NYC mayoral race

Members of the Pentagon press corp carry their belongings out of the Pentagon after turning in their press credentials, on October 15, 2025 in Washington. (AP Photo/Kevin Wolf)
US & Canada

Pentagon journalists vacate workspaces as new restrictions take effect

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS