Major

Security

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/u-s-national-debt-reaches-record-levels" data-wpel-link="internal" rel="noopener noreferrer nofollow">U.S. National Debt Reaches Record Levels</a><br></p>
<p style="text-align: justify">The U.S. Treasury has reported a significant surge in the national debt, escalating from $35.464 trillion to $35.669 trillion as the new fiscal year commenced. This represents an astonishing increase of $204.273 billion within just 24 hours.</p>
<h2 id="what-is-the-current-budget-deficit">What Is the Current Budget Deficit?</h2>
<p style="text-align: justify">As of the end of August, the budget deficit for the U.S. stood at $1.897 trillion, reflecting a substantial rise of 24% from the previous year’s $1.525 trillion. This rapid increase highlights the growing fiscal challenges facing the government.</p>
<h2 id="what-contributes-to-the-budget-deficit">What Contributes to the Budget Deficit?</h2>
<p style="text-align: justify">A recent Congressional Budget Office (CBO) report attributes the budget deficit’s uptick to soaring expenditures in Social Security, healthcare, and defense. Notably, Social Security benefits increased by $98 billion, or 8%, due to a rising number of beneficiaries and higher average payouts.</p>
<p style="text-align: justify">Healthcare costs have also surged, climbing by $76 billion, or 10%, primarily due to greater enrollment and heightened service payment rates. Additionally, defense spending has risen by $52 billion, or 7%, primarily focusing on operations, maintenance, and R&amp;D.</p>
<ul>
 <li>National debt has reached $35.669 trillion.</li>
 <li>Budget deficit soared to $1.897 trillion by August.</li>
 <li>Major contributors include Social Security, healthcare, and defense spending.</li>
 <li>Interest payments on public debt are significantly increasing.</li>
 <li>High debt levels may hinder future fiscal policies.</li>
</ul>
<p style="text-align: justify">The expanding budget deficit poses potential risks to economic growth, limiting future fiscal policy flexibility. Maintaining a sustainable economy requires innovative solutions and strict fiscal discipline to manage the national debt effectively.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/u-s-national-debt-reaches-record-levels" data-wpel-link="internal" rel="noopener noreferrer nofollow">U.S. National Debt Reaches Record Levels</a></h5>

U.S. National Debt Reaches Record Levels

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