As of 31 October, the US national debt surpassed $23 trillion, the Treasury Department's data showed on Friday.
The Peter G. Peterson Foundation said in a separate press release that the interest paid on the US federal debt will total nearly $6 trillion over the next decade.
Statement from Michael A. Peterson, CEO of the Peter G. Peterson Foundation: “Reaching $23 trillion in debt on Halloween is a scary milestone for our economy and the next generation, but Washington shows no fear."— DonnaCassata (@DonnaCassata) November 1, 2019
The United States spends $1 billion every day on paying the interest, the release pointed out.
In addition, the Peter G. Peterson Foundation calculated that the US federal debt amounts to $179,000 per household or $70,000 per person.
In September, the US Treasury Department stated that the federal budget deficit had grown to $984 billion in 2019 with the shortfall up to $205 billion from the $779 billion deficit a year earlier.