- US national debt has surpassed $33 trillion for the first time – as lawmakers scramble to avoid a government shutdown at the end of the month.
- The Treasury Department noted that debt reached $33.04 trillion on Monday, meaning it has spiked by $1.58 trillion since the debt ceiling was lifted in early June.
- After years of extreme spending, the country reached its debt ceiling of $31.4 trillion in January and months later, in May, President Biden and House speaker Kevin McCarthy agreed to suspend the cap until January 2025.
