Discover how Treasury Secretary Bessent’s strategies improved bond market liquidity and managed $1.8T debt efficiently.

We're on course to spend $1 trillion just on interest payments on the national debt this year, exceeding our spending on our national defense. Something has to give – and eventually it will, whether we are prepared for it or not,

It’s tough to decide what the most appalling part is of today’s announcement from the Treasury: that we surpassed an unprecedented $38 trillion in gross national debt; that we’ll likely hit the next milestone in just a matter of months; or that we are getting this news amid a government shutdown with seemingly no end in sight.

The US national debt has hit a record $37.8 trillion. It keeps rising fast. The government is borrowing $25 billion every day. Interest payments now exceed $1.2 trillion annually, surpassing defense spending.

Well, that was quick -- 71 days to be exact. That’s how long it took for the federal government to add another trillion dollars to the national debt.

President-elect Donald Trump said Thursday that Congress should get rid of the debt ceiling, a day after he and Elon Musk came out against a deal reached by congressional lawmakers to fund the government before a shutdown occurs, NBC News reports.

In mid-July 2011, 38 percent of Americans said the debt ceiling should be raised, while 31 percent said it shouldn’t. A month earlier, 39 percent opposed raising the debt limit and 28 percent favored it. Polls also find that cutting Medicare and Social ...