* Federal debt soared to $34 trillion on December 29, according to Treasury data
* A higher debt load could put upward pressure on inflation, experts warn
* Lawmakers face deadlines for permanent budgets in January and February
US national debt has reached a record high - hitting $34 trillion for the first time in history.
Data published by the Treasury Department Tuesday showed that outstanding federal borrowing soared to $34.001 trillion on December 29, just weeks ahead of Congress deadlines for new federal funding plans.
The staggering figure, which is a major point of contention between Republicans and Democrats, is equal to $101,233 in federal debt for every person in America, according to the Peter G. Peterson Foundation.
Read more ....
WNU Editor: Here is an easy prediction. This is not going to end well.
US Public Debt Surpasses Record $34 Trillion
US public debt tops $34 trln as Congress heads into funding fight -- Reuters
US national debt hits record $34 trillion -- CNN
U.S. national debt surpasses $34 trillion -- UPI
US national debt surpasses $34T for first time -- The Hill
US national debt tops $34T for first time in history -- FOX News
3 comments:
A trillion every three months now. And with all the new conflicts on the horizon, I won’t be surprised if gets to a trillion every two months. We’re fucked.
This is what happens when a country's coddled elites decide to simultaneously open the borders AND initiate a welfare state.
REPLACEMENT,
STRATEGY,
R,
I was told that The pain has not even begun.
Starting this year just the interest alone will equal about 1 trillion dollars.
If this is correct, what the Editor says is absolutely correct. It will end badly.
And to concur with Russ. Do not look for the elites to solve this problem. They will continue to shift the blame.
If the economy ever does collapse or hits a real down point our elites will blame the Russians or Chinese or white supremacists. As we know from past behavior on the elites part, they will never take responsibility for their own failures.
Just look at Portland and California.
According to them , everything is fine and working like a fine tuned clock.
Post a Comment