The USA started the new financial year with a record national debt of more than 31 trillion US dollars (31 trillion euros). Debt stood at $31.1 trillion on Tuesday, according to data from the US Treasury Department. This brings the country closer to the $31.4 trillion debt ceiling.
The USA is currently in a difficult economic situation. Inflation is at its highest level in decades. In the fight against the price increase, the US Federal Reserve has started to raise the key interest rate quickly and in large steps. This in turn makes credit more expensive. Experts also see this as a major problem with regard to national debt.