It will be just a matter of weeks before the total United States debt tops $20 trillion. Let that sink in for a moment: $20 trillion!
On Black Friday, the national debt reached $19.9 trillion for the first time in the history of the nation. According to data from the Treasury Department, the national debt hit $19,928,118,193,162.55 at the end of Black Friday.
This means that the national debt will exceed $20 trillion by the time Donald Trump is sworn in in the New Year – others suggest that it will either be in February or March at the latest. What’s interesting is the fact that the national debt has doubled since Barack Obama was sworn in as president in 2009.
With a new president in charge, will the national debt be reined in? Nope.
As Trump plans to undergo an aggressive spending spree for the next four years, the national debt could have an additional $6 trillion. When you look at the long-term, the national debt will top $45 trillion by the year 2036 with annual interest payments surging $1.5 trillion. Adding in the more than $120 trillion in unfunded liabilities and expenditures, the U.S. is in for a grim fiscal time.
If you want to see more red than green on a chart then be sure to take a look at the U.S. Debt Clock.
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