Government spending in recent years has been out of control, and it’s due to both parties. Trump spent a lot of money during the pandemic, but then Biden basically said ‘hold my beer’ and spent even more.
Now our national debt tops $31 trillion dollars. That is a number so staggeringly high that most people can’t even imagine it.
Well, Democrats like historic firsts. Enjoy this first, Biden supporters.
Another @JoeBiden success story!
U.S. National Debt Tops $31 Trillion for First Time https://t.co/SfwuaaUVKn
— Pradheep J. Shanker (@Neoavatara) October 4, 2022
Anyone feeling a little uneasy about this?
US national debt surpasses $31 trillion for the first time in history https://t.co/bA7QRVlcFw pic.twitter.com/sRDYzDwqhi
— New York Post (@nypost) October 4, 2022
From the New York Post:
US national debt surpasses $31 trillion for the first time in history
The US national debt has passed $31 trillion for the first time in history.
Treasury Department data released Tuesday showed that 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-19 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.
In 2022, the budget deficit is expected to be about $1 trillion. Some experts believe $1 trillion per year in new debt is the floor given growth in entitlement spending as well as new spending priorities set by Congress this year. Those priorities include the health and environmental policy bill known as the Inflation Reduction Act and assisting Ukraine in its war with Russia.
Even liberal media outlets are running this story with a picture of Biden. Isn’t that interesting?
The nation’s gross national debt has surpassed $31 trillion, according to a U.S. Treasury report released Tuesday. https://t.co/fEWaAz8q8B
— ABC News (@ABC) October 5, 2022
The U.S. gross national debt has hit a record $31 trillion, the Treasury Department says, adding to economic worries that include high inflation and rising interest rates. https://t.co/Vhpb3du9ct
— The Associated Press (@AP) October 5, 2022
Breaking News: America’s gross national debt exceeded $31 trillion for the first time, a record that came as the nation’s long-term fiscal outlook has darkened amid rising interest rates. https://t.co/AmnlIpRxV5
— The New York Times (@nytimes) October 4, 2022
This will be part of Biden’s legacy, whether Democrats like it or not.
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