Trump’s America faces a ‘doom loop’ as it falls in a $56 trillion hole

The alarm bells are ringing as America’s debt swells to record levels. And there is no end in sight.

The alarm bells are ringing as America’s debt swells to record levels. And there is no end in sight.

Total US public debt surpassed US$40 trillion for the first time, and has now surged by a third in less than five years, as US lawmakers continue to shrug off calls to contend with historically wide financial deficits. Public debt outstanding stood at US$40.05 trillion as of the close of business on Tuesday, a US Treas