In a historic fiscal milestone for the federal government, the national debt rose to $35 trillion for the first time, according to the latest Treasury Department Debt to the Penny data.
Current debt levels are equal to $105,000 per person and $266,000 per U.S. household.
Washington accumulated another $1 trillion in debt in less than seven months. Over the past 12 months, the national debt has spiked by nearly $2.35 trillion, an average of about $6.4 billion per day.
House Budget Committee Chair Jodey Arrington (R-Texas) is calling the announcement “another dubious milestone in the fiscal decline of the most powerful and prosperous nation in its history.”
Since January 2021, the national debt has increased by about $7.3 trillion.
The immense growth of red ink flooding the nation’s capital has captured the attention of public policymakers.
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