How the U.S. Spent $1.4 Trillion in Debt Last Year | WSJ

The United States relies on taxes and debt for much of its spending — but what would spending cuts look like? Just last year, the U.S. took on over a trillion dollars in debt.

WSJ explains how much the Treasury relies on debt, where it goes and what happens when the Treasury hits the debt ceiling.

0:00 The U.S. took on $1.4 trillion of debt last year
1:33 Where did the American government spend the money?
2:40 What happens when the U.S. debt ceiling is hit?
3:51 How to reduce the national deficit

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