The US national debt is rising at a blistering pace.
New data from the Treasury Department shows the nation’s outstanding debt jumped from $33.990 trillion on January 2nd of this year to $34.866 trillion on July 2nd.
That’s an increase of over $876 billion in a matter of six months.
The US government’s surging debt burden has caught the attention of former Secretary of State and ex-CIA director Mike Pompeo.
In a new post on the Washington-based nonprofit American Center for Law and Justice (ACLJ), Pompeo says that the country’s ballooning debt is now a threat to national security.
Pompeo cites data from the Congressional Budget Office (CBO), a non-partisan federal agency, warning that the budget deficit for the 2024 fiscal year is estimated to hit $2 trillion – $300 billion larger than the $1.7 trillion deficit witnessed last year.
“Our national debt was 97.3% of our national GDP last year; in ten years, the…
