US national debt hits record high
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Investors buying stocks with borrowed money suggests confidence that the market will keep rising. If only that were true.
The U.S. government’s gross national debt surpassed $38 trillion on Wednesday—just two months after it reached $37 trillion—which comes as the government continues to navigate the federal shutdown.
The Committee for a Responsible Federal Budget is glum: "The reality is that we’re becoming distressingly numb to our own dysfunction."
In just a little over two months, the national debt swelled by $1 trillion. This is twice as fast as the rate of growth since 2000, Michael Peterson says.
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