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The US national debt has surpassed $35 trillion

According to the US Treasury Department, the figure hit a record high of $35.001 trillion for the first time in history on July 26.

The national debt is what the US government owes to its creditors. Money is borrowed to cover the budget deficit and to pay expenses.

The US national debt has two components: intragovernmental and public – in July 2024 their volume reached $7.2 trillion and $27.8 trillion, respectively. The first is due to US debt to domestic government entities, such as pension funds. The public national debt is owed to state and foreign governments, individuals, corporations, and the US Federal Reserve System.

The national debt grows due to an increase in the budget deficit. The budget is in deficit when expenditures exceed revenues. The last time revenues surpassed expenditures in the US was in 2001. To cover the deficit, the government can increase the national debt. According to data for 2023, the largest amount of funds was allocated to social security of the population (35%), followed by health care, and national defense.

In 2023, the US national debt ceiling set by law at $31.4 trillion was exceeded, and US President Joe Biden signed a law suspending the ceiling until January 1, 2025. The debt limit has been suspended before. On August 2, 2019, the limit was suspended for nearly two years until July 31, 2021.

You can learn more about the US national debt and budget spending in the TASS infographics.

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Serbian Deputy PM Vulin to take part in BRICS meeting on security in St. Petersburg

A meeting of BRICS and BRICS+ high representatives in charge of security issues will be held in St. Petersburg on September 10 through 12

BRICS countries may present instruments for mutual settlements at summit in Kazan

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Iran’s mission to UN denies country supplies weapons to sides of conflict in Ukraine

The statement followed a report by the Wall Street Journal that alleged, citing unnamed US and European officials, that Iran supplied short-range ballistic missiles to Russia

French war correspondent says country had hand in planning attack on Kursk

It is reported that France strategically calls its military specialists in Ukraine mercenaries to avoid responsibility

Russian Air Defense shoots down 4 HIMARS MLRS missiles, 3 Hammer bombs, 30 Ukrainian UAVs

The Russian Defense Ministry added that since the beginning of the special military operation, Russian troops have destroyed 17,953 tanks and other armored combat vehicles, 14,226 field artillery pieces and mortars, and 25,766 special military vehicles

Kremlin spokesman denies Russia meddles in US elections

"This is not the first time that Russia has been blamed for interfering into America’s elections," Dmitry Peskov told

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The ban on export of gasoline from Russia has been extended from September 1 until the end of 2024

Houthis down US MQ-9 Reaper drone — rebel representative

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Collapse of Operation Citadel 2.0

Ukraine’s 80th Brigade mopped up Kursk Region villages — captured solder says

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Lavrov says his only meeting with Kuleba lacked constructiveness

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Press review: Putin goes to Mongolia and Berlin gives Kiev free run to use its weapons

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Ukraine loses over 11,220 troops since start of hostilities in Kursk area

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