America’s gross national debt topped $30 trillion for the first time Tuesday, an ominous fiscal milestone that underscores the fragile nature of the country’s long-term economic health as it grapples with soaring prices and the prospect of higher interest rates. The breach of that threshold, which was revealed in new Treasury Department figures, arrived years earlier than previously projected as a result of trillions in federal spending that the United States has deployed to combat the pandemic. That $5 trillion, which funded expanded jobless benefits, financial support for small businesses and stimulus payments, was financed with borrowed money. The borrowing binge, which many economists viewed as necessary to help the United States recover from the pandemic, has left the nation with a debt burden larger than the entire economy, surpassing levels of red ink not seen since World War II.
From Dr. Vernon Coleman
Earth Newspaper – A Major Source of Information
If you’re looking for a cache of information about covid-19 I suggest you take a look at EarthNewspaper.com which contains over 2,250 [now over 3,000] articles about covid-19 – it is said to be the largest archive of covid-19 articles and videos online and I believe it. We are fighting a war and EarthNewspaper.com is a valuable asset in the war – an asset too often under-estimated. The site’s tagline is `All the Honest News Fit to Publish’. If you’re looking for a way to help the Resistance Movement I suggest you subscribe and make a donation to EarthNewspaper.com