US Debt Tops $38 Trillion Amid Shutdown, The Fastest Pace Since Pandemic
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Amid the federal government shutdown, U.S. gross national debt has surpassed $38 trillion, marking the fastest increase since the pandemic. The debt is growing at twice the pace since 2000, raising concerns about financial stability. Billionaire investor Ray Dalio warns of a "dangerous inflection point" as the U.S. spends 40% more than it earns. J.P. Morgan's David Kelly cautions of a potential financial crisis due to debt management issues. However, the Trump administration claims its policies are reducing the deficit, with recent data showing a significant decrease in the cumulative deficit.
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