U.S. National Debt Hits Record $30 Trillion

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U.S. National Debt Hits Record $30 Trillion
The national debt surpassed $30 trillion for the first time Tuesday, driven in part by federal spending during the pandemic.

The United States national debt hit a new record Tuesday, topping $30 trillion, according to the Treasury Department. That's a nearly $7 trillion increase since January 2020, just before the pandemic hit.

At least $5 trillion of that debt comes from federal spending on programs during the pandemic like jobless benefits, support for small businesses and stimulus payments.

Economists say current levels of U.S. borrowing aren't sustainable and could affect how the government is able to handle future economic crises.