National debt nears $39 trillion as budget watchdogs warn of economic risks

Описание: The U.S. national debt is on track to reach nearly $39 trillion by mid-April, according to a new congressional report that underscores growing concerns about federal spending and the long-term consequences of mounting deficits.
Data released by congressional Republicans shows the debt is increasing by an average of $6.43 billion per day. Interest payments alone now consume roughly 13 percent of the entire federal budget, a figure budget watchdogs warn is unsustainable as deficits hover near $2 trillion annually.
“The national debt is in a huge emergency situation right now,” said Brandon Arnold, executive vice president of the National Taxpayers Union. “We’re approaching $39 trillion in national debt. It’s a national security problem, it’s an economic problem.”
The National Taxpayers Union is renewing its call for a constitutional balanced budget amendment, arguing it would impose fiscal discipline on lawmakers who have repeatedly failed to rein in spending.
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