U.S. Public debt passes $30 trillion

Current nominal GDP for 2021 is only $22.9 trillion!

Given rising interest rates, debt servicing will become a major burden on the e.g. the federal budget!

"... When President Biden took office, the national debt stood at $21.6 trillion.

The federal government ran a budget deficit of $2.8 trillion in fiscal year 2021, according to the Bipartisan Policy Center. .."

National debt passes $30 trillion for the first time in U.S. history | Just The News The U.S. national debt passed $30 trillion for the first time in U.S. history on Tuesday, according to Treasury Department data.

U.S. Department of the Treasury: Monthly Statement of the Public Debt December 2021