New numbers from the government’s Fiscal Data platform show that on July 13th, the country’s total public debt hit $32.542 trillion.
That’s $210 billion higher than just two weeks prior, and a staggering $2.03 trillion higher than one year ago.
The new data comes as a bipartisan group of US lawmakers reveal they’re forming a political alliance called the Bipartisan Fiscal Forum (BFF) to focus on US debt.
Representatives Scott Peters (D-CA) and Bill Huizenga (R-MI), along with eight colleagues, say their mission is centered on “sounding the alarm about our nation’s unsustainable debt trajectory and working together to get control of our fiscal future.”
Poster Comment:
This will crash the economy. When we go into recession, tax receipts will go down, expenditures will go up and we will be paying a trillion dollars a year in interest.
When the stock market and real estate markets crash, investors can deduct all those losses from their taxes.