{"id":2139648,"date":"2024-01-03T15:19:02","date_gmt":"2024-01-03T20:19:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/breaking-records-u-s-national-debt-surpasses-34t-mark\/"},"modified":"2024-01-03T15:23:00","modified_gmt":"2024-01-03T20:23:00","slug":"breaking-records-u-s-national-debt-surpasses-34t-mark","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/breaking-records-u-s-national-debt-surpasses-34t-mark\/","title":{"rendered":"U.S. National Debt Breaks $34T Record"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbreaking-records-u-s-national-debt-surpasses-34t-mark%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2139648&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">Pedestrians walk \u2063past a bus shelter at Pennsylvania\u2064 Avenue and 22nd Street NW where an electronic billboard and a \u200dposter display the current U.S. National debt per\u2063 person and as a nation at 32 Trillion dollars on July 05, 2023 in Washington, DC.\u2062 (Photo by \u200bJemal Countess\/Getty Images for the Peter G. Peterson Foundation)<\/figcaption><\/figure>\n<h2>OAN\u2019s <a href=\"https:\/\/www.oann.com\/tag\/james-meyers\">James Meyers<\/a><br \/>12:12 PM \u2013 Wednesday, January 3, 2024<\/h2>\n<p>For the \u2062first time\u2064 ever, the United \u200dStates \u200dnational debt has surpassed \u200ca staggering $34 trillion. <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>According to the\u2063 Treasury Department, the national debt \u2063reached an \u2064alarming $34 trillion as of Friday afternoon.\u200d But \u2062it&#8217;s worth\u2064 noting\u2062 that over 40 years ago, the national debt was a mere $900 billion.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cWe are beginning a new year, but our national\u2063 debt \u200dremains on the same damaging and unsustainable\u200d path,\u201d said Michael Peterson,\u200d CEO of the \u2062Peter G. Peterson Foundation, which advocates for fiscal \u2063sustainability.<\/p>\n<\/blockquote>\n<p>The record-breaking debt comes at \u2064a critical time when Congress is racing against deadlines\u2062 to secure new federal funding plans and prevent a government shutdown. <\/p>\n<p>Furthermore, the latest reports from \u2063the Congressional Budget Office predict \u200cthat the national debt is expected to double over the\u2062 next three \u200ddecades. This \u200balarming trend raises \u2063concerns\u2063 about the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/we-got-our-hopes-up-american-families-adjust-to-life-without-the-expanded-child-tax-credit\/\" title=\"\u2018We Got Our Hopes Up\u2019: American Families Adjust To Life Without The Expanded Child Tax Credit\">long-term financial stability<\/a> of the nation.<\/p>\n<p>Meanwhile, \u2063by the end of 2022, \u200bthe national debt had already skyrocketed to a staggering 97%\u2062 of the gross domestic product.\u200b This\u2063 figure is projected to increase \u2063to \u2064a record-breaking 181% by the end of 2053, surpassing\u2063 any previous levels.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cThough \u2064our\u200b level of debt is dangerous\u2063 for \u200bboth our \u2062economy and \u200bfor national security, America \u2063just cannot stop borrowing,\u201d said\u200b Maya MacGuineas, president of the Committee for\u2063 a Responsible\u2064 Federal\u2062 Budget.<\/p>\n<\/blockquote>\n<p>However, on Tuesday, Democrats\u200c pointed fingers at Republicans,\u200d blaming them for \u200dthe debt and attributing it to the previous debt accumulated during \u2062the Trump Administration. <\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cThis is the trickle-down debt \u200c\u2014 \u200cdriven overwhelmingly by repeated Republican giveaways skewed\u2062 to big corporations\u2064 and the wealthy,\u201d Michael Kikukawa, White House assistant press secretary,\u2063 said in a statement provided to <em>FOX Business<\/em>.<\/p>\n<\/blockquote>\n<p>More eye-opening research reveals that interest \u200cpayments are expected\u200b to triple\u200b from $475 billion\u200c in fiscal\u2064 year 2022 to an astonishing $1.4 trillion\u2063 in \u20632032. By 2053, interest payments are projected\u2063 to reach an alarming $5.4 trillion.<\/p>\n<p>Stay informed! Receive breaking news blasts directly to your inbox \u200dfor free. Subscribe here. <a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t \t\tShare this post!\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>9\/11\u200d survivor, advocate, and \u2062lawyer, Michael Barasch, is commending \u2064congress for\u2062 extending health protections for the 9\/11 Survivors\u2019 Health Program.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>White \u2064House Press\u200c Secretary Karine Jean-Pierre continues to push \u200cBidenomics heading into\u2062 2024.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The House Impeachment \u200cInquiry is starting 2024\u2064 right where it \u200dleft off, investigating the Biden\u2064 family\u2019s alleged corruption.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Customs and Border Patrol\u2062 record the highest number of\u2063 illegal border crossings in December.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>ChatGPT was well on its way to becoming \u200ba household name even before 2023 kicked off.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Apple fell nearly 3% to \u200da seven-week low after Barclays downgraded the shares on concerns demand \u2063for its devices will remain\u2063 weak in 2024.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Bitcoin galloped past $45,000 for the first\u200c time since April 2022, buoyed by optimism around the possible approval \u2062of\u200c <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-st-kicks-off-2024-on-a-dull-note-as-yields-rise-apple-dips\/\" title=\"Wall Street starts 2024 on a lackluster note with rising yields and Apple's decline\">exchange-traded spot bitcoin funds<\/a>.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>December 22, \u20642023\u2064 \u2013 6:05 AM PST HONG KONG (Reuters) \u2013 \u200bChinese regulators announced on \u2063Friday a wide range\u2063 of rules aimed\u2026\u200b <\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> What\u2063 measures\u2064 can policymakers implement to address the\u200c national debt and reduce the\u200c burden on future generations<\/h2>\n<p><span>  24. This\u200b will place a \u2062significant \u200cburden on future generations and further exacerbate the national debt crisis.<\/p>\n<p>The growing national debt raises concerns\u200b about \u200cthe economic implications for the country. As the debt continues \u200dto escalate, it becomes increasingly difficult for the government to invest in\u200d essential areas such as infrastructure, education, and healthcare. Additionally, servicing the debt through interest\u200b payments diverts funds that could be used for other critical needs, hindering economic growth and prosperity.<\/p>\n<p>Furthermore, the national debt undermines the long-term financial stability of the nation. As the \u200ddebt-to-GDP ratio continues to \u200drise, it becomes more challenging for the government to maintain \u2064fiscal\u200c responsibility and avoid potential economic crises. High levels of debt can lead to higher borrowing\u2063 costs, reduced investor confidence, and a weakened \u200bcurrency, all of which have severe implications for the overall economy.<\/p>\n<p>Addressing the national \u200cdebt should be a priority for policymakers. It requires \u200ba comprehensive and bipartisan approach that focuses on reducing spending, increasing revenue, and implementing long-term fiscal reforms. Efforts to curb the growing debt must\u200c involve a \u2064combination of measures, such as reducing wasteful \u200cspending, tackling tax\u200d evasion, \u200cand promoting\u200d economic growth.<\/p>\n<p>Additionally, it is vital\u2063 for policymakers \u200cto prioritize sustainable\u2062 budgeting practices and ensure\u2062 responsible fiscal policies. This includes carefully evaluating proposed spending plans, conducting thorough cost-benefit analyses, and implementing measures to promote efficiency and \u2064accountability in government spending.<\/p>\n<p>Furthermore, investing in economic growth and job\u2063 creation can help generate the revenue\u2063 needed to reduce the national debt. Policies that \u2062promote innovation, entrepreneurship, and a skilled\u200b workforce can drive \u2063economic expansion \u2063and \u2062increase government revenues, thereby reducing the need for \u2064excessive borrowing.<\/p>\n<p>In conclusion, the United States&#8217; national debt has reached a staggering $34 \u200btrillion, highlighting the urgent \u2063need for action. The escalating debt poses significant economic and financial risks and \u2063requires\u2062 a comprehensive approach to address the issue. Policymakers must prioritize fiscal \u200cresponsibility, implement sustainable budgeting practices, and \u200dpromote economic growth to mitigate the long-term consequences of the national debt. \u200dFailure to take\u200d decisive action could have severe consequences for the country&#8217;s economic stability and future generations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pedestrians pass a bus shelter in Washington, DC, displaying the current US National debt of $32 trillion per person and as a nation. The electronic billboard and poster catch attention at Pennsylvania Avenue and 22nd Street NW on July 05, 2023. (Photo by Jemal Countess\/Getty Images for the Peter G. Peterson Foundation) OAN\u2019s James<\/p>\n","protected":false},"author":2301,"featured_media":2139649,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2139648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2139648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2301"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2139648"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2139648\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2139649"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2139648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2139648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2139648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}