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The U.S. National Debt is Approaching $35 Trillion
How can anyone think this is sustainable?
The United States of America is headed for economic catastrophe, if not collapse. And neither of our major political parties has the will to stop it.
Our national debt continues to tick toward $35 trillion. By the time you read this, we may be at $35 trillion! This is an astounding number. It defies rationality, and yet…here we are.
Looking back to my high school days, I remember Democrats criticizing President Ronald Reagan for the high deficit spending and the accumulating national debt. To give you some perspective, the national debt approached $3 trillion by the time Reagan left office in 1989.
Today (March 15, 2024), it’s $34.5 trillion!
You can watch the national debt in real time at this link.
For those who need a quick lesson in basic economics…
The United States government collects money mainly through taxes and fees. It spends money on various things like defense, healthcare, education, and social welfare programs.
If the government spends more than it earns (and it usually does), it creates a budget deficit.
