{"id":3171,"date":"2023-06-17T17:08:17","date_gmt":"2023-06-17T15:08:17","guid":{"rendered":"https:\/\/www.dhcab.com\/?p=3171"},"modified":"2023-06-17T17:08:17","modified_gmt":"2023-06-17T15:08:17","slug":"us-national-debt-exceeds-32-trillion-for-first-time","status":"publish","type":"post","link":"https:\/\/www.dhcab.com\/?p=3171","title":{"rendered":"US national debt exceeds $32 trillion for first time"},"content":{"rendered":"<div class=\"postie-post\">\n<div>\n<div dir=\"auto\">The US national debt topped $32 trillion for the first time ever this week, according to Treasury Department data released Friday. <\/p>\n<p>Even though just two weeks ago the White House and House Republicans agreed to $1.5 trillion in spending cuts over the next decade, America&#8217;s gross national debt is projected to exceed $50 trillion as early as 2033. <\/p>\n<p>The $32 trillion milestone came nine years earlier than forecasted prior to the COVID-19 pandemic, thanks in large part to trillions in emergency spending approved by Congress to address the economic effect of widely ordered shutdowns.<\/p>\n<p>The Federal Reserve&#8217;s interest rate hikes since last year to combat historic inflation are also expected to make interest payments on the national debt more costly than they have been for decades.<\/p>\n<p>Without significant changes in US government spending habits, the debt is projected to increase by a staggering $127 trillion over the next 30 years. <\/p>\n<p>So by 2053, nearly 40% of all federal revenues will be spent on interest payments alone.<\/p><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The US national debt topped $32 trillion for the first time ever this week, according to Treasury Department data released Friday. Even though just two weeks ago the White House and House Republicans agreed to $1.5 trillion in spending cuts over the next decade, America&#8217;s gross national debt is projected to exceed $50 trillion as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3172,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-3171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-issues"],"_links":{"self":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/3171","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3171"}],"version-history":[{"count":0,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/3171\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/media\/3172"}],"wp:attachment":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}