Treasury Department: US national debt exceeds $26 trillion for first time

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# 09:10
11 June 2020

The United States' national debt total has exceeded $26 trillion for the first time in US history, Treasury data revealed, APA reports citing Sputnik.

The data published on Wednesday showed that as of this week the United States' debt sits at $26,003,751,512,345 as the nation grapples with economic relief from the novel coronavirus pandemic.

The US government has provided up to $5 trillion in coronavirus relief since March. The Coronavirus Aid, Relief and Economic Security (CARES) Act was passed on 27 March and included $2 trillion, while the $3-trillion Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act adopted in May.

Earlier on Wednesday, the Treasury Department published a monthly report showing that the federal government budget deficit for the first eight months of the current fiscal year, which started on 1 October 2019, has reached $1.88 trillion - already higher than any full fiscal year 12-month deficit in US history.

That eight-month deficit more than doubled the $738.6 billion deficit for the same period in the fiscal year 2019, the report read.

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