America's debt exceeds $33 trillion for the first time...and the debt of each citizen is $97,000

[yota691]

America's debt exceeds $33 trillion for the first time...and the debt of each citizen is $97,000

 

Arab and international
   

Economy News - Baghdad
The US Treasury Department revealed in a report detailing the balance sheet that the total US national debt exceeded $33 trillion for the first time ever, meaning that each citizen owes $97,000. The population of the United States is about 340 million people.

 

According to US Treasury Department figures, the country's debt has reached a historic high amid budget debates in Congress. The debt increased by about a trillion dollars in a period of 3 months, after recording 32 trillion dollars in June.

 

If current trends continue, the debt will reach $34 trillion by the end of the year.

The United States reached its $31.4 trillion debt limit on January 19, and the US Treasury Department took extraordinary measures to avoid exceeding the limit and prevent a potential default.

 

After negotiations over the debt limit, an agreement was reached in Congress, and President Joe Biden signed a bill in June to increase the debt limit and prevent the country from defaulting.

The national debt is the total amount of borrowing owed by the U.S. federal government accumulated over the nation's history.

 

This comes as Congress appeared to falter in its efforts to fund the government ahead of the September 30 deadline. Unless Congress can pass dozens of appropriations bills or agree to a short-term extension of federal funding at current levels, the United States will face its first government shutdown since 2019.

 

Over the weekend, House Republicans considered a short-term proposal that would cut spending for most federal agencies and revive tough Trump-era border initiatives to extend funding through the end of October. But the plan had little hope of breaking the stalemate on Capitol Hill, where Republicans remain divided over their demands and Democrats are unlikely to support any compromise they reach among themselves.

 

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Views 51

Added 09/19/2023 - 1:51 PM

[RV-2-Day]

What a deception.  Debt at $33T   and $97k per person.

 

Go to https://www.usdebtclock.org/

 

You will find at the bottom right that the real debt (unfunded liabilities) is 

$195T  and  $577k per person.

Debt to GDP ratio  122.4%

 

Not a pretty picture

Just a matter of time (not long) till it all its the fan

[gregp]

We are screwed. 

[cranman]

At this point it's just pretend banking.  

All countries are in massive debt of some sort. These massive  debts cannot be payed back. 

All countries are to big to fail. 

 

Just like banks. Lol