US national debt reaches record high of $34 billion

New data from the U.S. Department of Treasury claims that the “total public debt outstanding” of the United States reached $34.001 trillion on Dec. 29.

This marks the first time U.S. national debt has surpassed $34 trillion in the country’s history.

The record-breaking debt level comes just weeks ahead of U.S. Congress’ deadlines for federal funding proposals.

“Though our level of debt is dangerous for both our economy and for national security, America just cannot stop borrowing,” said Committee for a Responsible Federal Budget President Maya MacGuineas.