The national debt is astronomical and climbing by the day, but politicians in Washington continue to ignore this very real problem and instead draft legislation proposing trillion-dollar spending increases with no economically viable plans to cover the expenses. This must change; we must pursue a Congressional fiscal policy of having a balanced budget in which yearly spending is either less than, or equal to, the national revenue. We must also begin to pay off our debts to foreign countries – like China – who may one day leverage our debt for political power.
National Debt Numbers – as of March 11th, 2022: 1
- US National Debt Exceeds $30,000,000,000,000 {$30 trillion}
- US National Debt Held by Foreign Countries Exceeds $7,500,000,000,000 {$7.5 trillion}
- US National Debt per Citizen Exceeds $91,000 {$91 thousand}
- US National Debt per Tax Payer Exceeds $241,000 {$241 thousand}
- US Interest on Debt Exceeds $425,000,000,000 {$425 billion}
- US Federal Debt-to-GDP Ratio: 125.62%
