{"id":85560,"date":"2024-07-30T03:07:07","date_gmt":"2024-07-30T07:07:07","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=85560"},"modified":"2024-07-30T03:07:12","modified_gmt":"2024-07-30T07:07:12","slug":"us-national-debt-reaches-35-trillion","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/us-national-debt-reaches-35-trillion\/","title":{"rendered":"US National Debt Reaches $35 Trillion"},"content":{"rendered":"\n

The US national debt<\/a> has hit a record $35 trillion, with an average monthly increase of $280 billion since 2020.<\/p>\n\n\n\n

\"US
US National Debt Reaches $35 Trillion<\/figcaption><\/figure>\n\n\n\n

The U.S. national debt surpassed $35 trillion this week for the first time. Additionally, the federal debt of the United States<\/a> has increased by approximately $12 trillion since 2020.<\/p>\n\n\n\n

To provide context, the United States has accrued an average of $280 billion in federal debt each month since January 2020.<\/p>\n\n\n\n

The Kobeissi Letter on July 30 observed that the country currently has approximately $105,000 in federal debt per person residing in the United States. The letter then asked, “How can this possibly end well?”<\/p>\n\n\n\n

Kamala Harris and Donald Trump, the nation's foremost presidential candidates<\/a>, have infrequently addressed the nation's substantial deficits during their campaigns. This implies that debts will continue to increase over the next four years.<\/p>\n\n\n\n

The projected sum of the federal debt is $46 trillion by 2028, as per usdebtclock.org. The crisis was addressed in the Kobeissi Letter:<\/p>\n\n\n\n

\n

\u201cEvery year, there are calls for spending cuts and they never happen. The debt ceiling crisis never truly ended, it was simply swept under the rug.\u201d<\/p>\n<\/blockquote>\n\n\n\n

\n

BREAKING: Total US Federal debt has officially hit $35 trillion for the first time in history.

Since 2020, the US has now added ~$12 TRILLION in Federal debt.

In other words, the US has added an average of ~$280 BILLION of Federal debt EVERY MONTH since January 2020.

This\u2026 pic.twitter.com\/YRQjNkQopc\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>— The Kobeissi Letter (@KobeissiLetter) July 29, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

The Congressional Budget Office predicts that the national debt will surpass $56 trillion by 2034 because tax revenue is not keeping pace with the increase in expenditure and interest expenses.<\/p>\n\n\n\n

The debt mountain in the United States has been rendered challenging to reduce due to the persistently high interest rates and Social Security and Medicare expenditures<\/use><\/svg><\/span><\/a>.<\/p>\n\n\n\n

Michael Peterson, the chief executive of the Peter G. Peterson Foundation, which advocates for fiscal restraint, stated to the New York Times, “We cannot continue to deny that this is a problem.”<\/p>\n","protected":false},"excerpt":{"rendered":"

The US national debt has hit a record $35 trillion, with an average monthly increase of $280 billion since 2020. The U.S. national debt surpassed $35 trillion this week for the first time. Additionally, the federal debt of the United States has increased by approximately $12 trillion since 2020. To provide context, the United States […]<\/p>\n","protected":false},"author":36,"featured_media":85574,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[20982,20981],"class_list":["post-85560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-35-trillion","tag-us-national-debt"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/07\/istockphoto-1396668176-612x612-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/85560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=85560"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/85560\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/85574"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=85560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=85560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=85560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}