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U.S. Debt Ceiling Raised to $41.1 Trillion Amid Historic Spending Package
U.S. Debt Ceiling Raised to $41.1 Trillion Amid Historic Spending Package
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BTCCSquare news:
The U.S. government has elevated its debt ceiling to a record $41.1 trillion following Congressional approval of a sweeping spending bill. The move, which permits borrowing an additional $5 trillion, aims to avert default until at least 2027. National debt surged by $384.7 billion in a single week, reaching $36.6 trillion—a direct consequence of the legislation passed in early July.
Permanent extension of 2017 tax cuts compounds fiscal pressures, potentially draining trillions from federal coffers over the next decade. Treasury Department data reveals aggressive replenishment of cash reserves as the primary driver behind recent debt accumulation, with delayed payments now demanding urgent resolution.
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