Our federal debt is a looming crisis and hard choices are coming.
America’s future fiscal outlook is disastrous but forgotten on the campaign trail this year.
The national debt is setting historic records, but both President Joe Biden and former President Donald Trump have ignored plans that focus on the United States’ financial future. In the recent presidential debate, both candidates blamed the other for ignoring our debt Armageddon. Both parties have buried their heads in the sand.
This past week the International Monetary Fund warned that America’s increasing debt must be “urgently addressed.”
The pandemic and previous years’ deficits have taken the nation’s debt today to just shy of $35 trillion, an increase of over 514% since 2000 and a dangerous record.
Our national debt was $5.67 trillion in the year 2000, $13.6 trillion in 2010, $26.51 trillion in 2020.
Our debt is over 33% of the entire world’s combined debt…
