U.S. Taxpayers Now on Hook for $36.2T

However, my fellow citizens, the national bill continues to climb, hitting a astounding$ 36.2 trillion as of Jan. 31. This is why Donald Trump’s plans to reduce inefficient state investing are so crucial.

We hope that Trump’s new Department of Government Efficiency ( DOGE ) and the newly Republican-majority Congress can actually make a dent in the horrendous amount of wasteful, unconstitutional, and unfordable federal government spending. Under the Biden-Harris leadership, we observed how inflation had weakened the U.S. money and how quickly it lost its position as a world reserve currency. That harmful trend needs to be stopped, and drastic action is required. The state is unable to continue increasing spending continuously without having to suffer severe consequences.

However, according to Fox Business, which reported the Jan. 31 loan figures from the U. S. Treasury, attention payments alone on the national bill for this fiscal year, which started up in October, exceed the budgets for protection and Medicare. That’s horrific. According to Fox, economists have criticised the” torrid pace of spending by Congress and the White House,” which did, one hope, start to change under new leadership this season.

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Fox Business explained:

The federal loan — which measures what the U. S. owes its debts — rose to$ 36, 221, 443, 082, 611.85 as of January 31st, according to the latest statistics published by the Treasury Department. That is an improvement of about$ 2.3 billion from the previous day’s number.

By comparison, only four decades ago, the&nbsp, regional debt&nbsp, hovered around$ 907 billion… The Congressional Budget Office’s most recent findings indicate that the nation’s debts will increase to an remarkable$ 54 trillion over the next ten years as a result of the country’s aging population and rising healthcare costs. Higher interest rates are even making the strain of higher debt worse.

That level of debt, if the forecast is correct, had placed America’s global financial position at risk, even more than Bidenomics did over the last four years. Due to financial difficulties that were exacerbated and exacerbated by officials’ bad policies, Fitch Ratings downgraded the USA’s long-term credit report in 2023. Too often, congressional Republicans ( including House Speaker Mike Johnson ) have acquiesced in Democrats ‘ spending sprees, and that is totally irresponsible.

Here’s why the debt-fueled GDP “growth” isn’t green: the drivers of economic development have lagged way below their pre-pandemic pattern and didn’t even develop last fourth, we’re borrowing from the future to believe the present is improving… pic. twitter.com/Zh1MOUQzvE— E. J. Antoni, Ph. D. ( @RealEJAntoni ) January 30, 2025

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” America’s fiscal outlook is more dangerous and daunting than ever, &nbsp, threatening our economy&nbsp, and the next generation”, said Michael Peterson, CEO of the Peter G. Peterson Foundation. This is not the future that any of us want, and there is no way to govern a great nation like ours.

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