The $31.4 trillion debt ceiling was surpassed in January US national debt surged by more than $500 billion in just 20 days to reach $33.5 trillion, according to data provided by the Treasury Department last week. On September 18, the Treasury reported that the amount of money borrowed by the federal government to cover operating expenses stood at $33.04 trillion. It took Washington three months to drive it from $32 trillion to the current level. The debt ceiling, which was legally set at $31.4 trillion, was surpassed in January 2023. The total output of the US economy was only $25.46 trillion, meaning that the eco
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