The Way the U.S. Accumulated $31 Trillion in Debt

Written by: Vasantha Cover.Metalnation.org NEWS

[{"selector":"#anim-2a26376d-4a17-4f07-8a44-7c47e1cf9284","keyframes":{"opacity":[0,1]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-68f5d447-4340-4f6a-8aa7-11578ecc6e28","keyframes":{"transform":["translate3d(117.82179%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Cover.Metalnation.org There will be another federal showdown after two decades of tax cuts, recession responses, and bipartisan spending contributed $25 trillion to the total.

[{"selector":"#anim-1c1ae242-7b98-4d21-9d2a-bdb3b8d80076","keyframes":{"opacity":[0,1]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-41386212-03f5-459b-ad17-44a7e464dfe5","keyframes":{"transform":["translate3d(117.49175%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Cover.Metalnation.org The U.S. treasury reported in October that the gross national debt surpassed $31 trillion for the first time. In December, $31.3 trillion was reached.

[{"selector":"#anim-6c2695df-f6d2-47df-a864-1294a6cbead1","keyframes":{"opacity":[0,1]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dbde5c96-5942-4e5f-a860-b17acd8bc974","keyframes":{"transform":["translate3d(118.15181%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Cover.Metalnation.org Based on the Peter G. Peterson Foundation, that translates to $93,878 of debt for every American.

[{"selector":"#anim-cf00817b-9ec9-49a5-99c0-c70ef114645d","keyframes":{"opacity":[0,1]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7c81c196-2170-42c4-9036-bbbed4ed83bb","keyframes":{"transform":["translate3d(115.51156%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Cover.Metalnation.org As interest rates have risen dramatically over the past few months - the Fed funds rate target currently sits at 4.25% to 4.50% - the national debt will continue to grow at an alarming rate.

[{"selector":"#anim-3dd269c4-34e2-405f-acda-befe54c7c20e","keyframes":{"opacity":[0,1]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9ded828d-2b29-474c-93c1-27b3b2e175b0","keyframes":{"transform":["translate3d(117.49175%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Cover.Metalnation.org “Interest rates are a major problem,” says Phillip Braun, clinical professor of finance at North Western University’s Kellogg School of Management.

[{"selector":"#anim-1956a6ee-79c4-4af6-a003-bfdbbcfa2450","keyframes":{"opacity":[0,1]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ac2ef352-0925-410a-8911-8c70de923b09","keyframes":{"transform":["translate3d(118.48184%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Cover.Metalnation.org “The Treasury finances the debt with a lot of short-term borrowing … It'll push other budgetary items out.”

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[{"selector":"#anim-4743fc9b-d44c-4646-9dc8-a6ddffa70ba0","keyframes":{"opacity":[0,1]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4ee54b9c-9672-4f80-89ac-3dbfbc9f5ab7","keyframes":{"transform":["translate3d(118.15181%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Cover.Metalnation.org Jeff Bezos says to hold onto your money rather than buy a new car, refrigerator, or whatever - here are 3 better recession-proof buys

[{"selector":"#anim-ca729e74-ba52-49e4-b5a4-4816e4d90ac3","keyframes":{"opacity":[0,1]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ef74a92d-94af-45c1-9b73-d1b70efdeb66","keyframes":{"transform":["translate3d(118.15181%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":9000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Cover.Metalnation.org Here's how to save on peace of mind if you are paying nearly 40% more for home insurance than you were 12 years ago

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