For the first time in history, U.S. debt has surpassed $34 trillion. The latest Treasury Daily Statement, reflecting financial records as of December 29th, 2023, puts the precise amount of total U.S. debt at $34,001,493,655,565.48.
The surge in debt has been consistent over the last 15 years, with significant jumps over the past several years: $1 trillion in the last three months, $2 trillion in the last six, $4 trillion in the last two years, and $11 trillion in the previous four. This exponential increase in debt has become a ruling factor in U.S. fiscal policy, raising questions about the nation’s financial stability.
In the third quarter, the budget deficit saw a substantial increase of $622 billion. Experts have begun to speculate on the amount of debt that will be accrued if the U.S. enters an official recession.
Despite the grim outlook, the Biden regime currently has no specified plan to counter the potential repercussions of the ever-increasing debt burden.