National debt tops $40 trillion after doubling in under 10 years
Federal debt has mounted amid tax cuts and trillions in pandemic spending, adding to the nation's interest payments.
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Federal debt has mounted amid tax cuts and trillions in pandemic spending, adding to the nation's interest payments.
The U.S. national debt has topped $22 trillion for the first time in history, according to figures released by the Treasury Department.
Top House Democrats are making positive but cautious comments about a deficit-reduction proposal by a bipartisan group of senators called the Gang of Six.
President Barack Obama raised the stakes Monday in budget talks aimed at preventing a first-ever U.S. default, saying there would be no agreement if Republicans did not compromise and he would not sign a short-term agreement.
