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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 News Explainers Some days the high-speed news cycle can bring more questions than answers. WSJ’s news explainers break down the day's biggest stories into bite-size pieces to help you make sense of the news. #Debt #Spending #WSJ