US debt hits record $40 trillion, doubling in a decade

Contributing sentiments towards policy:

56% : These substantial refunds turned customs receipts negative for the third consecutive month, while outlays for Social Security and Medicare benefits for seniors continued to grow.
53% : The US currently spends approximately $7 trillion annually, with 60 per cent of that budget earmarked for "mandatory" programmes, including Social Security, Medicare, Medicaid, and veterans' care, which generally grow to keep pace with living costs.
50% : In first 10 months of current fiscal year, interest costs have eclipsed Medicare healthcare outlays to become the second-largest line item in the federal budget, behind only the Social Security pension system.
41% : The mounting federal debt is already raising the cost of living, choking out other public spending and investment, and threatening the long-term prosperity of American economy.
35% : This puts immense pressure on the trust funds backing Social Security and Medicare, even as payroll and income tax revenues fall short of covering federal costs.
34% : The total national debt of United States has passed record $40 trillion mark for the first time, raising concerns that the country is facing a fiscal crisis as government spending continues to outpace revenue.

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