Total US debt to the federal government has exceeded $34 trillion, a record high that portends the political and economic challenges ahead to improve the US balance sheet in the coming years.
The US Treasury Department issued a report monitoring the US finances, which has become a source of tension in politically divided Washington, which could see parts of the government shut down without an annual budget.
This comes after Republican lawmakers and the White House agreed last June to temporarily raise the country's debt limit, avoiding the risks of what could be a historic default. This agreement continues until January 2025.
Source (Al-Arabiya.net website, edited)
