On Monday, the United States gross national debt reached $33 trillion for the first time in history, as Washington, D.C., faced a potential government shutdown over federal spending.
The national debt, which quantifies how much the federal government owes security holders, reportedly reached $33.04 trillion, mere months after surpassing $32 trillion in mid-June, according to data officially issued by the Treasury Department.
In a news release, Maya MacGuineas, president of the Committee for a Responsible Federal Budget, stated that the newest figures set “a new milestone that no one will be proud of.”
“Debt held by the public, meanwhile, recently surpassed $26 trillion,” MacGuineas said. “We are becoming numb to these huge numbers, but it doesn’t make them any less dangerous.”
According to MacGuineas, the Congressional Budget Office affirmed last week that the underlying deficit will likely quadruple from the previous fiscal year to this one. According to Fortune, the office warned in June that high-interest rates and rising national debt might cause net interest payments to reach 6.7% of GDP by 2053.
“Instead of hearing about solutions, we hear promises of which programs our leaders are unwilling to touch and which taxes they are unwilling to raise,” she said. “That kind of talk is not only pandering, but it’s also downright irresponsible when we have a mess like this on our hands.”
According to Fox Business, the announcement comes after House Republicans proposed a short-term plan on Sunday that would temporarily fund the government through October 31 in order to avoid a shutdown and impose an 8% spending cut on federal agencies, excluding defense funding, veterans affairs, and disaster relief.
However, the bill was met with criticism from fellow Republicans, and Democrats are unlikely to approve it.
The chief executive of the budget watchdog group Peter G. Peterson Foundation, Michael A. Peterson, has warned of an impending government catastrophe.
“As we have seen with recent growth in inflation and interest rates, the cost of debt can mount suddenly and rapidly,” Peterson said, according to The New York Times. “With more than $10 trillion of interest costs over the next decade, this compounding fiscal cycle will only continue to do damage to our kids and grandkids.”
Mark Spitznagel, founder of the hedge fund Universa Investments, told Fortune in August that we are living in the “greatest credit bubble in human history” after warning of the potential repercussions of the debt surge.
“We’ve never seen anything like this level of total debt and leverage in the system,” Spitznagel said. “It’s an experiment. But we know that credit bubbles have to pop. We don’t know when, but we know they have to.”
US Treasury Secretary Janet Yellen told CNBC on Monday that she isn’t concerned about the skyrocketing debt, stating that the federal government still controls net interest as a share of GDP.
“And even with the rise we have seen in interest rates, that remains at a very reasonable level,” Yellen said, admitting that U.S. officials need to be careful about spending going forward in order to stay on this “sustainable course.”
“Certainly, greater deficit reduction is possible,” she added. “The President has proposed a series of measures that would reduce our deficits over time while investing in the economy, and this is something we need to do going forward.”
In June, President Joe Biden signed the Fiscal Responsibility Act, which suspends the debt limit until January 2025 and imposes spending limitations predicted by the Congressional Budget Office to cut budget deficits by $1.5 trillion over the following decade.
It seems like everyone I know is struggling with the inflation in our country.
We all want to save money to feed our families.
Every single one of us is doing our best to make a dollar stretch, but the elites in this world are sinister.
Not only have they caused this global issue with inflation but they also are poisoning our foods that make us all sick.
Oh, but it gets worse.
As conservatives, we want to support American products and companies that align with our values, right?
Every day we are fighting the culture war that is destroying our nation and when we go to the store we are funding it with our dollars.
However, it doesn’t have to be that way and I am so excited to find alternatives.
The only “catch”?
It’s Invite only.
Good thing you know someone that has the invites….(me!).
Yep! I would not make a suggestion if I wasn’t going to hook you up.
If you’d like to find out more and get a FREE personal invite, just go here and tell them SASSY sent you: https://tinyurl.com/2s3n9f27
It’s the real deal for sure, and since it is invite only and does not run like other corrupt conglomerates they may have the SHUT OFF invites if they grow too fast.
We need to stop sending our dollars to the corporations that hate us and want to see us gone!
Remember the Georgia Guidestones?
They literally told us they wanted to reduce us from 8 billion people on Earth down to only 500 million.
No big deal, right?
Just an elimination of 94% of all people living right now.
And yet we continue to shop at their big stores and send them our money because until now we’ve had little choice.
Well, today that changes.
It’s time to “ditch and switch” and change where you send your dollars each month.
What if I told you instead of sending your money to Jeff Bezos and Costco and Walmart, you could shop at the LAST pro-America, freedom-loving, American designer, manufacturer, and shipper of all the stuff you buy each month?
Oh, and what if I told you the products are BETTER and often CHEAPER?
Yes, for real.
And what if I told you this is the best-kept secret you’ve never heard of before, but that this company has been doing this for the last 37 years?
And their founder was once placed on Barack Hussein Obama’s list of the Top 10 most “Dangerous Conservatives” in America?
(a list I one day hope to make myself!)
All of that is real and I’m so excited to tell you about it and I hope you’ll join the MISSION with me.
Here’s a quick summary of this company that I’m so excited to now be partnered up with on this mission:
Sound good to anyone else?
I can get you in, but you can’t just go sign up.
They only want people on the same mission to join and they’re happy to say “no” to the Far-Left Libs!
They’ve been doing it for 37 years, and it works great.
Oh, and did I mention the products are non-toxic and don’t have all the chemicals and crap like Red Dye 40 that all the Big Corporations put in their products to weaken you?
To wear you down?
To make you — and your family — sick?
Because then when you get sick you’ll buy their drugs!
Sorry folks, I don’t play that game and neither does my family.
We’re talking about the LAST all-natural, grass-fed, no-hormones, massive beef cattle ranch in the United States….
We’re talking fluoride-free toothpaste, chemical-free cleaners, and Deet-free mosquito repellant!
What novel concepts, right?
Stop sending your money to these 11 corporations that do NOT have your best interest at heart:
It’s an ILLUSION of choice.
There’s only one pro-American, American-made and manufactured, chemical-free, toxin-free, hormone-free, company left….and I’m teaming up with them to FIGHT BACK!
As I said, it’s Invite Only and the invite is entirely free!
In fact, I’ve assembled a team of patriots who will personally get you invited and signed up….if you want in.
Folks, we don’t have many strongholds left.
This is one.
And I’m all in.
If you’d like to find out more and get a FREE personal invite, just go here: https://tinyurl.com/2s3n9f27
Tell them Sassy sent you and I promise you will get a personal call or text. If you want an email make sure you use one where one of the team members can get in touch with you.
Don’t freak out when you do.
And make sure you tell them you are interested in the Black Angus beef!
I know I tend to get concerned when I get messages from numbers I don’t recognize, but if you request a Free Invite (Link here: https://tinyurl.com/2s3n9f27 you WILL have someone from my Inner Circle reach out to you….so be ready!
These are awesome people and I think you’ll love getting a chance to talk with them.
And they’ll help get you all set up.
Who’s with me?