The UK government's borrowing for the month stood at £15 billion, below expectations but the national debt has surged to its highest level since 1961. This presents mixed economic implications and highlights the challenges in balancing borrowing with long-term debt management.
The national debt of the United States has surged to $35 trillion, translating to a debt of approximately $100,000 per American. The article explores key factors like government overspending, social entitlement programs, defense spending, tax cuts, and crisis-driven expenditures contributing to the rising debt. It also discusses potential solutions and the ongoing political debate over fiscal responsibility and economic growth.
