US national debt has reached a record high - hitting $34 trillion for the first time in history. published by the Treasury Department Tuesday showed that outstanding federal borrowing soared to $34.001 trillion on December 29, just weeks ahead of deadlines for new federal funding plans. The staggering figure, which is a major point of contention between Republicans and , is equal to $101,233 in federal debt for every person in America, according to the .
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