Balanced News: U.S. national debt hits $33 trillion for the first time

The national debt of the United States has surpassed $33 trillion, a historic milestone. The increase in federal spending, tax cuts, stimulus programs, and decreased tax revenue due to the Covid-19 pandemic contributed to the debt reaching this level. The debt issue is currently causing a standstill in Congress over a spending bill to sustain the government. Republican lawmakers are advocating for reduced spending, while Democrats support President Joe Biden’s programs, which could cost over $1 trillion over the next decade. House Republicans have proposed a bill to fund the government until Oct. 31, but it is unlikely to pass the Democrat-controlled Senate.