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BREAKING
Iran's Foreign Ministry: The US government, as the main supporter of this regime, will also be responsible for the dangerous effects and consequences of the Zionist regime's maneuver
Iran's Foreign Ministry: The Zionist regime's aggressive actions against Iran cannot have been carried out without the coordination and permission of the United States.
Iran's Foreign Ministry: Responding to this aggression is Iran's legal and legitimate right in accordance with Article 51 of the United Nations Charter
Iran's Foreign Ministry: The armed forces of the Islamic Republic of Iran will not hesitate to defend the Iranian nation with all their might and in a manner they determine
Iran's Foreign Ministry: The attacks of the zionist regime on Iran are a violation of Article 4, Paragraph 2, of the United Nations Charter
Iran: The Iran Army: Netanyahu will be taught a harsh lesson
Israeli media: Israelis storm supermarkets and grocery stores, and there are reports of a shortage of bottled water
Iran's General Staff: By order of Sayyed Ali Khamenei, the response of the Armed Forces of the Islamic Republic of Iran to the leaders, perpetrators, and supporters of this act will be devastating, overwhelming, and regrettable
General Staff of Iran's Armed Forces: The aggressive action carried out by the Zionist regime, which attacked parts of the country, including civilian and military areas, led to the martyrdom and injury of a number of dear citizens
Oman: The Israeli attack threatens to eliminate diplomatic solutions and undermine regional security and stability

US national debt hits record high of over $30 trillion: US Treasury

  • By Al Mayadeen Net
  • Source: Agencies
  • 2 Feb 2022 08:37
2 Min Read

The national debt of the United States has reached yet another milestone, according to Treasury Department data released on Tuesday.

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  • US national debt hits record high of over $30 trillion: US Treasury
    US national debt hits a record high of over $30 trillion: US Treasury

According to figures issued by the US Department of the Treasury, the national debt of the United States has hit a record high of $30.012 trillion, owing to a huge increase in government loans due to the COVID-19 pandemic and higher expenditures of sustaining health care.

When compared to late January 2020, when COVID-19 had not yet affected the US economy, the debt has increased by over $7 trillion.

As a result of the trillions spent fighting the virus, financial experts quoted by US media stated the new maximum was reached many years sooner than the country's government projected.

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According to the New York Times, recent costs have included increasing unemployment benefit amounts, more support for small firms, and incentive payments.

The record US national debt, according to most experts, is not concerning because the country's economy continues to thrive despite the COVID-19 pandemic, and interest rates remain low.

Concerns about the budget are stalling talks on President Biden's $2 trillion safety net and climate spending program. Senator Joe Manchin III of West Virginia, a Democrat whose vote is crucial in advancing Biden's bill, said he couldn't support it because of the "staggering debt".

However, the lingering pandemic has hampered the economy's recovery, generating inflation rates that haven't been seen since the early 1980s and heightening the threat of higher interest rates, which would add to America's fiscal burden.

Read more: The US Is Running Out of Money, Literally 

  • United States
  • US Treasury Department
  • COVID-19
  • COVID-19 pandemic

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