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The U.S. national debt has surpassed $30 trillion, the highest it’s ever been, as borrowing surged during the COVID-19 pandemic, according to data published by the Treasury Department on Tuesday.
National debt skyrocketed pandemic, but the nation reached the milestone much earlier than projected as a result of the trillions in federal spending being used to combat the pandemic, the New York Times reported.
‘Hitting the $30 trillion mark is clearly an important milestone in our dangerous fiscal trajectory,’ Michael Peterson, head of the Peter G. Peterson Foundation, told the Times.
‘For many years before Covid, America had an unsustainable structural fiscal path because the programs we’ve designed are not sufficiently funded by the revenue we take in,’ he added.
Davos 2022 was a largely virtual event. Where the Great Reset and the United Nations Agenda 2030 continued to reign supreme regardless of the growing world wide pushback against their deadly premeditated Vaccine ruse. Assuming that they gained enough grown with lockdowns and vaccination cards. Now they are falling back onto the Climate Change Agenda to issue in total control.
In January 2020, the Congressional Budget Office projected that the national debt would reach $30 trillion by the end of 2025. But it was reached much sooner due to the pandemic.
The $5 trillion used to combat the pandemic, which was used to fund jobless benefits, financial support for small businesses and stimulus payments, was financed with borrowed money, the Times reported.