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
Occupied Palestine: A fire broke out in the courtyard of Al-Awda Hospital in the Tal al-Zaatar neighborhood in northern Gaza after IOF fired directly at diesel tanks.
Israeli ambulance: A settler was injured while running to shelter after a rocket was fired from Yemen, and the sirens were activated.
Occupied Palestine: The IOF besieges Al-Awda Hospital in Tal al-Zaatar, north of Gaza, with 160 people inside, including medical personnel and wounded.
Occupied Palestine: IOF: A missile was detected and launched from Yemen, and air defense systems were activated.
Lebanese Health Ministry: One martyr, one wounded in IOF strike on Yater, South Lebanon.
Palestinian sources: Arab-European committee including 30 ambassadors, consuls came under fire by occupation forces in Jenin Refugee Camp, northern West Bank.
Pope Leo XIV: I renew my heartfelt appeal to allow the entry of sufficient humanitarian aid [into Gaza] and to put an end to the hostilities
Palestinian Resistance factions: Occupation expanding its genocidal war through what it calls "Gideon's Chariots" will end in failure just like its former plans.
Palestinian Resistance factions: We warn our people from occupation's plans that aim to push it to move to southern Gaza as a prelude to displacing them from the Gaza Strip.
Iraqi oil minister: Such agreements must be signed by the federal government.

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

UN hails Syria sanctions relief as ‘historic’ shift

Rome to host fifth round of Iran-US nuclear talks on May 23

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

YAF say struck 'Israel's' Ben-Gurion Airport with missiles, drones

YAF say struck 'Israel's' Ben Gurion Airport with missiles, drones

  • MENA
  • 18 May 2025
Israeli media: Yemen may push 'Israel' towards ceasefire in Gaza

Israeli media: Yemen may push 'Israel' towards ceasefire in Gaza

  • MENA
  • 17 May 2025
Martyrs, injuries in violent Israeli bombardment of southern Gaza

Israeli operation fails; IOF launch violent strikes on Gaza

  • Politics
  • 19 May 2025
Rachel Accurso criticized for speaking out on Gaza children crisis

Ms. Rachel accused of antisemitism for speaking out for Gaza children

  • Politics
  • 20 May 2025

Coverage

All
Gaza prevails against genocide

Read Next

All
Gulf investments quietly boosted Elon Musk and family fortunes
US & Canada

Gulf investments quietly boosted Elon Musk and family fortunes

A 3D render of China's planned 'drone mothership' Credit: X/@XH_Lee23
US & Canada

China unveils drone mothership capable of swarm attacks

Relatives of Venezuelan migrants deported by the US to a Salvadoran prison protested outside the UN building in Caracas on April 9, 2025 (AP)
US & Canada

At least 50 migrants deported to El Salvador prison entered US legally

A city bus goes by the historic city of Santiago, Spain during a major power outage across Spain and Portugal on April, 28, 2025. (AP Photo/Mic Smith)
Europe

Spain hit by major phone network outage weeks after nation blackout

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