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National debt surpasses $22 trillion

Treasury Secretary Steven Mnuchin. Photo: Chip Somodevilla/Getty Images

The Treasury's public debt exceeded $22 trillion today, the Associated Press reports. That figure has climbed at a faster pace following the enactment of President Trump's tax cut bill in December 2017.

The big picture: When Trump took office, the debt stood at $19.95 trillion — but the rising national debt is not an issue specific to this administration. It has been increasing over the last century, accelerating significantly under the presidencies of George W. Bush and Barack Obama.

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