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The US national debt has more than doubled in a decade to reach a milestone $40tn (£29.4tn), Treasury figures show. The rise reflects years of heavy spending under both the Donald Trump and Joe Biden administrations, along with higher interest payments that have steadily added to the total. In 2016, the national debt stood at just under $20tn.

The BBC’s Nathalie Jimenez explains how the debt can affect American consumers and the entire world.

42 minutes agoUS economyUnited StatesDonald TrumpJoe BidenShareSave

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