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U.S. National Debt Hits $22 Trillion — A New Record That's Predicted To Fall

Federal deficits are now expected to average $1.2 trillion, or 4.4 percent of gross domestic product — far higher than the average over the past 50 years.
Despite being in the second-longest economic expansion since the post–World War II boom, the U.S. is projected to rack up national debt at rates not seen since the 1940s. Here, the U.S. Treasury Department's main building is seen in Washington, D.C. Source: Mandel Ngan

The U.S. government's public debt is now more than $22 trillion — the highest it's ever been. The Treasury Department data comes as tax revenue has fallen and federal spending continues to rise. The new debt level reflects a rise of more than $2 trillion from the day President Trump took office in 2017.

Despite being in the second-longest economic expansion since the post–World War II boom, the U.S. is projected to rack up annual deficits and incur national debt at rates not seen since the 1940s, according to the Congressional

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