US Debt Soars to $34.5 Trillion, Raising Concerns Over Rising Interest Costs and Foreign Holdings

• US national debt increased by $677 billion in 3 months to $34.5 trillion • BlackRock CEO Larry Fink warns mounting debt is a major threat • Interest rates on debt is now over 4%, adding an extra $1 trillion in interest payments over next decade • 30% of US debt is held by foreign investors, percentage likely to decrease • Achieving 3% GDP growth could keep debt-to-GDP ratio reasonable, but will require pro-growth policies like infrastructure investment