The National Debt in Two Alarming Charts

national-debt-clock

The fact that the national debt jumped by $1.4 trillion in one short year is rather alarming.

According to the Daily Signal:

“The debt hit a record-breaking high of $19.6 trillion at the close of the federal government’s 2016 fiscal year on Sept. 30. It had totaled $18.1 trillion at the end of the previous fiscal year.

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The gross national debt includes intragovernmental debt, or debt the federal government owes to itself—for example, to the Social Security trust fund—in addition to debt held by the public.

Federal debt held by the public, or money the government borrowed in financial markets, rose from $13.1 trillion to $14.1 trillion over fiscal 2016. That’s an increase of $1 trillion.

Federal debt held by the public now exceeds 75 percent of what the economy produced, as measured by gross domestic product. To put this into perspective, debt owned by the public surpassed 70 percent of GDP during only one other time in American history—from 1944 to 1950, due to the large expenditures for World War II.

The debt not only has skyrocketed but is projected to increase as budget deficits rise due to excessive spending. Social Security, Medicare, and Medicaid—three programs affected by the aging and retirement of the baby boomers—are especially key.

These three programs, along with interest on the debt and Obamacare, are projected to make up 83 percent of increased spending over the next decade. To seriously control spending and debt, Congress must alter the authorizing statutes of the programs.

Growing spending fuels the growth in debt. The Congressional Budget Office projects that the debt will rise to 86 percent of GDP by 2026, to 106 percent by 2035, and to 141 percent by 2046.”

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If America continues on this path of unsustainable debt, we likely will face negative consequences such as higher interest costs, slower economic growth, and a greater chance of a fiscal crisis.

To read more, go to Daily Signal

 

Sonya Sasser

South Carolina PolitiChick Sonya Sasser has conducted enormous research and has written numerous PolitiChick articles on topics such as: the IRS scandal, Fast and Furious, Obamacare, the erosion of personal freedoms, the unique power of county sheriffs, the Constitution versus U.N. treaties, Benghazi, terrorism, Mexican drug cartels, and various political candidates. Sonya has also conducted exclusive interviews with: well-known gun rights advocate Nikki Goeser, Catherine Engelbrecht of True the Vote, OK Congressman Jim Bridenstine, N.C. Senate candidate Molotov Mitchell, U.S. Senate candidate Nancy Mace, Madison Rising's lead singer Dave Bray, and many other distinguished subjects. Sonya has been a guest speaker at the South Carolina Guns Across America rally and various Conservative radio shows. In addition to her efforts to save our Republic, Sonya is a Christian, a wife, a mother, a registered dietitian, and a fashion and fitness guru. She is infamous for being 'that chick who runs a lot' and loves sharing her fitness tips with others! Sonya is also the creator and administrator of Breakthrough Nation, a Conservative blog that reaches thousands of Patriots across the nation. If you ask Sonya why she spends so much time on the political battlefield, her response will most certainly be, "I do it for my children." She feels it is her duty to preserve and protect those precious freedoms that have been endowed to every American by their Creator.

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