Congrats on setting a new record, America: You now have the largest national debt of any nation that has ever existed since the beginning of time.
Yep, we've added over a trillion of that in just the last few months while you were on vacation and not paying attention. That's about $100,000 per U.S. citizen (about $255,000 per taxpayer).
Here's a reminder of where the national debt was just 6 years ago:
Where do you think we'll be 6 years from now?
More from CNBC:
The national debt of the United States reached a historic milestone by passing $33 trillion for the first time — less than two weeks before the federal government faces a potential shutdown over a lack of funding authorization
Oh, did I forget to mention that the government is about to shut down again because the politicians hired to balance the budget can't do that?
A roughly 50% increase in federal spending between fiscal years 2019 and 2021 contributed to the debt topping $33 trillion, the department said.
Tax cuts, stimulus programs, and decreased tax revenue as a result of widespread unemployment during the Covid-19 pandemic were factors in driving government borrowing to new heights.
Here's a visual of how the debate on Capitol Hill is proceeding for those interested:
You can go here to look at the numbers climb on the debt clock. My entire paycheck is eaten up every 2 seconds.
Look at that debt-to-GDP!
Isn't it fun to watch us make the same mistake as all the other superpowers that crashed and burned?
House Republicans on Sunday released their own bill to fund the government until Oct. 31 in exchange for an 8% cut to domestic programs with exceptions for national security, according to NBC News.
But that bill is not expected to pass the Democrat-controlled Senate.
At least we passed Biden's $1-trillion iNfLaTioN rEduCtioN aCt. I'm sure it'll be fine.
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