Highest-ever debt milestone for the United States.
The Treasury Department reported that the federal government reached the highest recorded levels of public debt, closing 2023 with $34.001 trillion in outstanding debt. This was recorded in the Daily Treasury Statement for Friday, December 29, surpassing the previous highest debt level of $33 trillion reached in September.
When Congress convenes this coming week, they will address the president’s call for supplemental funding for Ukraine, Israel, and the border. They must also deal with funding bills to prevent a government shutdown when the current continuing resolutions expire.
Information from the Congressional Budget Office shows that the national debt could double in the next three decades if it is not addressed.
As the Lord Leads, Pray with Us…
- For discernment for members of Congress as they pick up negotiations on appropriations as well as foreign aid and border security funding.
- For Secretary Yellen as she oversees the Treasury Department’s management of the national debt and meeting financial obligations.
- For the president and members of his administration to be open to compromise on federal spending to reduce the national debt.
Sources: The Hill, Fox Business, Reuters
