The U.S. government’s national debt recently topped $34 trillion, a new record. But how worried should you be about the country’s borrowing?
The debt has been a source of tension among politicians, with lawmakers narrowly avoiding a default last year through a debt ceiling deal. Neither side of the aisle was completely happy with the agreement; conservative members had been advocating for deeper cuts, while liberals objected to components like expanded work requirements for food stamps and future spending caps.
Spending deals have continued to come under fire by ultraconservative lawmakers, despite the risk of a government shutdown. Congressional leaders on Sunday announced a deal on a short-term funding bill that will keep the government’s doors open into March. The deal follows an agreement made last week between Senate Majority Leader Chuck Schumer, D-N.Y., and House Speaker Mike Johnson, R-La., to set the overall government…
