The US Treasury announced that the American public debt crossed the historic threshold of $40 trillion, comprising $32.266 trillion in Treasury securities held by the public and $7.782 trillion in debt held by federal government agencies and funds. This debt has more than doubled in less than a decade, rising from $19.950 trillion in January 2017 to its current level. The US Department of the Treasury also announced a doubling of its long-term bond purchases, a measure welcomed by markets and triggering a rebound in major cryptocurrencies. According to Maya MacGuineas from the Committee for a Responsible Federal Budget, this fiscal decline of a world power has become predictable. Foreign investors holding nearly one-third of US Treasury bonds have significantly reduced their demand over the past year.
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