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National debt at new peak

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The United States national debt has recently crested at its all-time high and is not going to be diminishing anytime soon.

On Sept. 8, the national debt soared to an all-time high, over $20 trillion. While many factors have contributed to the extreme amount, there are a few recent happenings in the United States which have aided in the continually rising national debt.

President Donald Trump made a deal which permitted a three-month debt ceiling raise to quickly combat damages caused by Hurricane Harvey. Most Republicans involved with the bill called for an even lengthier debt ceiling extension. After this extension of the ceiling, $15 billion in emergency funds are to be sent to help those in need of assistance after the hurricane.

If the national debt was evenly distributed among citizens of the United States, each person would owe over $60,000, not to mention the rising interest rates.

According to Fox News, cutting spending, developing means tests for entitlement programs, reducing bureaucracy, eliminating unnecessary regulations and reforming the tax code are all steps which would help ease the load of debt. All that is known for certain is until some action is taken, the national debt will continue to rise.

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National debt at new peak