Posted on 10/04/2022 1:50:44 PM PDT by Olog-hai
The U.S. national debt has passed $31 trillion for the first time in history.
Treasury Department data released on today showed the total national debt was $31.123 trillion as of Monday.
The new milestone was reached even as the federal government’s insatiable spending has slowed considerably as the COVID pandemic has waned. In the months following the outbreak, the national debt rose by $1 trillion in just a month’s time — not just once, but twice in 2020.
As a result, the federal government spent $3.1 trillion more than it received in 2020, and it spent $2.8 trillion more than it received the following year. …
(Excerpt) Read more at foxnews.com ...
National debt surpasses $31 trillion
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And that’s just this week. And it’s only Tuesday.
Dow up...all good /s
I remember people freaking out when it was only 3 trillion.
$31 trillion in debt is criminal.
The welfare/warfare state chugs along.
This is why any and all threats to the primacy of the US Dollar in all global markets must be destroyed before they can arise.
Time released.
-Joe Biden, on spending.
What a headline. “For the first time in history”
Gee when it was 4 trillion it was for the first time in history. It is not like it has ever decreased since then. And there will never be second times. It is just going to go kaboom and that will be it.
We’re number one! We’re number one! We’re number one!
Stocks roaring up the last two days.
All the while, the US economy continues to implode, gas prices on the rise (despite WH claims otherwise), OPEC talking cuts from 1M to 2M barrels a day in a counter move to price cap oil via the US/UK/NATO/EU, EU still economically imploding, UK economically imploding, etc., etc., etc.
Did I say that the stocks have been roaring up the last two days? /s
About five light years give or take with miles expressed as dollars.
What is “they” in this context?
There! Fixed it.
While it seems like it’s just a number, the real impact of the debt is the interest payments. Now, it’s about $400 billion per year, or 7% of the total budget. With rising interest rates, and more debt added each year, in 10 years the interest on the debt will be more than a trillion dollars per year. That means that if all new government spending was balanced by tax revenues, we will still have a trillion dollar deficit.
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