The U.S. gross national debt has surpassed $38 trillion for the first time, U.S. Treasury Department data shows.
The country’s mounting debt comes as the government remains closed, disrupting the economy as hundreds of thousands of federal workers go unpaid.
Government shutdowns can boost the national debt because they delay economic activity and postpone fiscal decisions, while pausing federal programs and starting them up again can also increase costs. The Office of Management and Budget estimated that a 2013 U.S. government shutdown cost $2 billion in lost worker productivity.
“Reaching $38 trillion in debt during a government shutdown is the latest troubling sign that lawmakers are not meeting their basic fiscal duties,” Michael A. Peterson, CEO of the Peter G. Peterson Foundation, a nonpartisan nonprofit focused on fiscal policy, said in a statement.
“If it seems like we are adding debt faster than ever, that’s because…
