U.S. Federal Government debt exceeded $40 trillion

THE UNITED STATES FEDERAL GOVERNMENT'S TOTAL DEBT HAD EXCEEDED $40 TRILLION, AND AS GOVERNMENT BORROWING HAD INCREASED AT AN UNPRECEDENTED RATE, THE DEBT BOOM HAD RAISED CONCERNS AMONG INVESTORS ABOUT THE PUBLIC FINANCES OF THE UNITED STATES. ACCORDING TO THE UNITED STATES DEPARTMENT OF THE TREASURY, DEBT INCREASED BY $3 TRILLION OVER THE PAST YEAR, THE FASTEST GROWTH RATE IN HISTORY, NOT COUNTING THE EPIDEMIC PERIOD. MARK GOLDWIN, SENIOR POLICY DIRECTOR OF THE RESPONSIBLE FEDERAL BUDGET COMMISSION, STATED THAT THE PHENOMENON WAS A CLEAR SIGNAL THAT THE SITUATION WAS OUT OF CONTROL. THE UNITED STATES NATIONAL DEBT HAS RISEN SHARPLY OVER THE PAST TWO DECADES, AND IT IS EXPECTED THAT BY AROUND 2030, PUBLIC FEDERAL DEBT TO GDP WILL EXCEED A HISTORIC PEAK OF 106 PER CENT, RISING FURTHER TO 120 PER CENT IN 2036。