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IPFS News Link • Economy - Economics USA

Bidenomics: National Debt Increases By Another Half-Trillion in Just 20 Days

• https://schiffgold.com, BY MICHAEL MAHARREY

That's how long it took the Biden administration to add another half-trillion dollars to the national debt.

Bidenomics certainly requires a lot of borrowing and spending.

On September 15, the debt quietly blew passed $33 trillion. On October 5, it pushed above $33.5 trillion.

By the way, it only took Biden and his willing accomplices in Congress three months to drive the national debt from $32 trillion to $33 trillion.

As of October 5, the debt stood at $33,513,382,512,663.51.

This is an unimaginable amount of money.

To put things into some perspective, the total output of the US economy as measured by GDP was only $25.46 trillion. That means the US economy would have to grow by 33.5% to cover the national debt.

At $33 trillion, the US national debt is more than the total economies of China, Japan, Germany, and the UK combined.

Looking at it another way, as of Oct. 10, every US citizen would have to write a $99,839 check in order to pay off the debt, and every American taxpayer is on the hook for $258,257.


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