Joe Biden’s ruinous economic polices and the Democrats’ extreme spending has had disastrous effects on the country. And now the U.S. national debt has soared past $31 trillion for the first time in history.
The extreme national debt comes amid record inflation, rising interest rates, and the continuing recession.
Per Breitbart News:
The United States’ public debt closed at $31.1 trillion on Monday, according to Treasury Department data published Tuesday.
The milestone comes as the Federal Reserve continues to hike interest rates to fight the highest inflation in 40 years, and as the government borrows money to finance tax cuts even as it sends billions of taxpayer dollars offshore to Ukraine in aid.
“So many of the concerns we’ve had about our growing debt path are starting to show themselves as we both grow our debt and grow our rates of interest,” said Michael Peterson, chief executive officer of the Peterson Foundation, which promotes deficit reduction.
“Too many people were complacent about our debt path in part because rates were so low.”
It’s official. The #NationalDebt has now surpassed $31 trillion.
— Peterson Foundation (@pgpfoundation) October 4, 2022
Biden is truly destroying this country.Commentary