U.S. National Debt Continues To Surge: It Won’t End Well

U.S. National Debt Stands at $28 Trillion & Continues to Grow

The U.S. national debt continues to increase at an alarming pace, which could bring a lot of problems. The federal debt is possibly one of the most ignored topics of discussion these days, but it shouldn’t be ignored whatsoever.

It’s perfectly fine for the national debt to increase in the short term. At times, governments need to spend money to help the ailing economy—or to make large investments for other reasons. However, if the debt continues to increase regardless of economic conditions, you really should question it.

us national debt

Currently, the U.S. national debt stands awfully close to $28.0 trillion. (Source: “The Debt to the Penny and Who Holds It,” TreasuryDirect, last accessed February 2, 2021.)

Over the years, the debt has only grown. Donald Trump’s administration didn’t do anything about it. In fact, the Trump administration spent without remorse. Mind you, during the Trump years, the U.S. economy was supposedly doing well, but the national debt still soared.

Prior to that, Barack Obama’s administration didn’t do much about the debt either. The Obama administration racked up massive deficits, which led to a huge increase in the U.S. national debt. Surely, government spending was needed after the 2008 financial crisis, but the U.S. government never stopped spending.

But there’s no real point in talking about who did what. What’s worth discussing now is what’s ahead, and how the ever-rising U.S. national debt could have a severe impact in the long term.

Don’t Be Shocked to See U.S. Debt at $35 Trillion Soon

Here’s some perspective: if the U.S. government gets its act together right now and the national debt remains at $28.0 trillion, the interest expense on this debt is still expected to be $575.0 billion this year alone. (Source: “Monthly Treasury Statement,” U.S. Department of the Treasury, last accessed February 2, 2021.)

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