The total debt of the U.S. federal government has climbed to approximately 41 trillion U.S. dollars, Treasury Secretary Scott Bessent said at a policy forum in Washington on Friday.
Bessent said that the U.S. government is formulating a fiscal consolidation plan to reduce its growing federal budget deficit and ease pressure from issuing national debt.
This plan is expected to be announced after the November 3 midterm elections, according to Bessent.
US national debt reaches nearly 41 trln USD: treasury secretary
A Chinese envoy on Friday called for de-escalating the Russia-Ukraine conflict and a settlement through dialogue and negotiation at a UN Security Council emergency meeting on Ukraine.
Briefing the council, UN Assistant Secretary-General Khaled Khiari said that the ongoing escalation of the Russia-Ukraine conflict has led to rising civilian casualties, increased attacks on commercial vessels in the Black Sea, and a deepening risk of spillover. He urged an immediate halt to attacks against civilians and civilian infrastructure, stressing the need for diplomatic dialogue to secure a ceasefire.
Recent large-scale attacks by parties to the conflict have resulted in heavy casualties and infrastructural destruction, and the spillover of the conflict continues to severely impact global energy and food security, said Sun Lei, China's deputy permanent representative to the United Nations, adding that the Ukraine conflict cannot be allowed to continue escalating and spiraling out of control.
Sun laid out China's three-point position on the conflict, namely an unwavering pursuit of peace, steadfast promotion of peaceful settlement, and a firm commitment to reconciliation.
He also called on parties to the conflict to abide by international humanitarian law, avoid attacking civilians and civilian infrastructure, refrain from harming third-party civilians and civilian assets, and create conditions for a political settlement of the conflict.
"There are no winners in wars, nor any future in conflict. We must give peace a chance. The top priority now is to cool down the situation, prevent spillover from the battlefield and avoid escalation," Sun said.
While noting that differences between the parties remain stark despite recent interactions and contacts, Sun urged all stakeholders to maintain engagement, demonstrate political will, and build consensus toward a comprehensive, lasting, and binding peace agreement.
China reiterated that the sovereignty and territorial integrity of all nations must be respected, the UN Charter upheld, and legitimate security concerns addressed, and pledged to continue working alongside the international community to push for an early political settlement to the conflict, said Sun.
China calls for de-escalation, peace talks on Ukraine
