Opinion | The author's opinion does not necessarily reflect Sarah Palin's view.
The U.S. national debt topped $33 trillion for the first time ever.
This massive spending spree has occurred over four decades. In the early 1980s, the national debt hovered around $907 billion.
“The United States has hit a new milestone that no one will be proud of: our gross national debt just surpassed $33 trillion,” said Maya MacGuineas, the president of the Committee for a Responsible Federal Budget.
When I started Turning Point USA, the national debt was around $12.7 trillion. Now, it’s passed $33 trillion for the first time in history. We added $1 trillion in new debt in 3 months.
This is simply unsustainable. Will anyone do what’s necessary to stop the insanity? pic.twitter.com/zPJJMQQfVb
— Charlie Kirk (@charliekirk11) September 19, 2023
“Debt held by the public, meanwhile, recently surpassed $26 trillion. We are becoming numb to these huge numbers, but it doesn’t make them any less dangerous.”
Republicans in Congress are arguing that out-of-control spending needs to decrease or else the country could face a government shutdown.
The current plan is to impose an 8% spending cut on federal agencies, excluding funding for defense, veterans affairs and disaster relief.
In the meantime, the Biden administration has faced severe backlash over its focus on sending cash to foreign nations, like Ukraine and Iran.
“As lawmakers drift from one short-term fiscal crisis to the next, our national debt just keeps piling up, trillion after trillion,” said Michael Peterson, CEO of the Peter G. Peterson Foundation.
Our national debt just surpassed $33,000,000,000,000.
But make no mistake — it's about to get dramatically worse. We will look back fondly on this number if we continue to pretend that our debt doesn't matter. pic.twitter.com/9KUJIsbDfc
— Rep. David Schweikert (@RepDavid) September 19, 2023
“After the debt ceiling showdown in June, we crossed the $32 trillion debt milestone. Now, as we stare down a potential government shutdown just three months later, we have raced past $33 trillion in red ink.”
The Biden White House is blaming Republicans for the massive rise in the federal debt.
“The increase in debt over the last 20 years was overwhelmingly driven by the trillions spent on Republican tax cuts skewed to the wealthy and big corporations,” Michael Kukukawa, White House assistant press secretary, said in a statement provided to FOX Business.
“Congressional Republicans want to double down on trickle-down by extending President Trump’s tax cuts and repealing President Biden’s corporate tax reforms.”
