Wisconsin Right Now

The rapidly growing debt of the U.S. federal government has hit another milestone, topping more than $100,000 in debt per person. While the U.S. population and the U.S. national debt are large numbers that are difficult to calculate, the rough debt estimate and rough population estimate end up at about $100,000 of federal debt per person in the U.S. The U.S. Census population clock estimates the U.S. population at nearly 336 million. Meanwhile, the U.S. Treasury Department estimates the national debt is nearly $34 trillion. “The national debt just exceeded $100,000 per citizen,” Rep. John James, R-Mich., wrote on X, formerly known as Twitter. “This should send a message to the White House that this reckless federal spending is at a breaking point.” The U.S. Treasury confirmed in the middle of last month that in the first month of this fiscal year, the federal government had a deficit of $67 billion. Concern about rising debt has grown along with the debt and recent internat...

  The U.S. gross national debt surpassed $33 trillion, a troubling benchmark as lawmakers show little interest in reining in spending, let alone a balanced budget. The milestone comes as Congress faces a deadline of Sept. 30 to pass another spending measure or face a federal government shutdown. “$1 trillion more debt… SINCE JUNE!” Rep. Dan Bishop, R-N.C., wrote on social media. “Now $33 trillion. Your family’s share is over $260,000. The swamp’s answer: let’s do another CR.” The current deficits mean that debt will only continue to grow. Earlier this month, the U.S. Congressional Budget Office published its estimate of the deficit 11 months into the fiscal year which reported that the U.S. deficit hit about $1.5 trillion. At the same point last year, the deficit was under one trillion dollars. That debt has several economic consequences, including elevated inflation and taxpayers shelling out billions just for interest payments on the debt. As The Center Square previou...