A. $10 trillion
B. $20 trillion
C. $30 trillion
D. $40 trillion

Explanation:

A Washington Post economic report published on 27 October put US federal debt at approximately $40 trillion. Public debt is important because the government must finance its borrowing and pay interest on outstanding obligations. The report also noted that interest costs were putting pressure on federal finances.

Important points

• – Federal debt represents accumulated government borrowing.
• – Interest payments are part of the federal budget.
• – The budget deficit occurs when government spending exceeds revenue over a given period.
• – A debt stock and an annual budget deficit are different measures.

Related question and answer:

Q: What is a budget deficit?

Answer: When government expenditure exceeds government revenue during a financial period.