{"id":498451,"date":"2022-10-05T01:51:53","date_gmt":"2022-10-04T22:51:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/us-national-debt-surpasses-31-trillion-for-the-first-time-in-history\/"},"modified":"2022-10-05T01:51:53","modified_gmt":"2022-10-04T22:51:53","slug":"us-national-debt-surpasses-31-trillion-for-the-first-time-in-history","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/us-national-debt-surpasses-31-trillion-for-the-first-time-in-history\/","title":{"rendered":"#US national debt surpasses $31 trillion for the first time in history"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a413bda669f5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a413bda669f5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/us-national-debt-surpasses-31-trillion-for-the-first-time-in-history\/#%E2%80%9CUS_national_debt_surpasses_31_trillion_for_the_first_time_in_history%E2%80%9D\" >&#8220;US national debt surpasses $31 trillion for the first time in history&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CUS_national_debt_surpasses_31_trillion_for_the_first_time_in_history%E2%80%9D\"><\/span>&#8220;US national debt surpasses $31 trillion for the first time in history&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>The US national debt has\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.foxbusiness.com\/features\/us-national-debt-nears-31-trillion\">passed $31 trillion<\/a>\u00a0for the first time in history.<\/p>\n<p>Treasury Department data released Tuesday showed that the total national debt was $31.123 trillion as of Monday.<\/p>\n<p>The new milestone was reached even as the\u00a0federal government\u2019s insatiable spending\u00a0has slowed considerably as the COVID-19 pandemic has waned. In the months following the outbreak, the national debt rose by $1 trillion in just a month\u2019s time \u2014 not just once but twice in 2020.<\/p>\n<p>As a result, the federal government spent $3.1 trillion more than it received in 2020, and it spent $2.8 trillion more than it received the following year.<\/p>\n<p>In 2022, the\u00a0budget deficit\u00a0is expected to be about $1 trillion. Some experts believe\u00a0$1 trillion per year\u00a0in new debt is the floor given growth in entitlement spending as well as new spending priorities set by Congress this year. Those priorities include the health and environmental policy bill known as the Inflation Reduction Act and assisting Ukraine in its war with Russia.<\/p>\n<p>While much of the drop in the annual budget deficit is due to the easing of emergency COVID spending, President Biden has praised his administration for slowing the rate at which the government accumulates new debt.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/inflation-Biden.jpg?w=1024\" alt=\"Biden speaking last month about the Inflation Reduction Act of 2022.\" class=\"wp-image-24124782\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/inflation-Biden.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/inflation-Biden.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/inflation-Biden.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Biden speaking last month about the Inflation Reduction Act of 2022.<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>\u201cYou know, Republicans talk about being fiscally responsible,\u201d Biden said in September. \u201cLast year, I reduced the deficit $350 billion. You know how much this year, not counting the Medicaid changes? One trillion seven hundred billion dollars. So, I don\u2019t want to hear it from Republicans about fiscal responsibility.\u201d<\/p>\n<p>Republicans have been arguing for several weeks that voters are ready for reduced federal spending, which they say is a major contributor to higher inflation levels, and they have also said this issue is a reason to give the GOP control of Congress in the midterm elections.<\/p>\n<p>In August, Sen. Ted Cruz (R-Texas) said the Democrats\u2019 Inflation Reduction Act amounts to hundreds of billions in new spending that will \u201cdrive up inflation and prices, hammer small businesses and American manufacturing, increase the price of gas and sic the IRS on Americans, all while raising taxes on Americans in nearly every tax bracket, including those who make less than $400,000 a year.\u201d<\/p>\n<p>Moments after Treasury released the new number, Rep. Chip Roy (R-Texas) tweeted that the national debt was \u201c$21 trillion just 5 years ago. Think about that.\u201d<\/p>\n<p>\u201cThis is what h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ens when Congressional Democrats engage in unchecked partisan spending \u2014 and hardworking Americans are paying the price,\u201d added Rep. James Baird (R-Ind). \u201cThe American people deserve better.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/10\/04\/us-national-debt-surpasses-31-trillion-for-the-first-time-in-history\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;US national debt surpasses $31 trillion for the first time in history&#8221; The US national debt has\u00a0passed $31 trillion\u00a0for the first time in history. Treasury Department data released Tuesday showed that the total national debt was $31.123 trillion as of Monday. The new milestone was reached even as the\u00a0federal government\u2019s insatiable spending\u00a0has slowed considerably as&#8230;<\/p>\n","protected":false},"author":1,"featured_media":498452,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/10\/biden-yellen-debt.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[133839,72134,70492,73809],"class_list":["post-498451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-10-4-22","tag-debt","tag-federal-government","tag-treasury-department"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/498451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=498451"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/498451\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/498452"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=498451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=498451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=498451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}