The rapidly growing debt of the U.S. federal government has hit another milestone, topping more than $100,000 per person.
While the U.S. population and the U.S. national debt are large numbers that are difficult to calculate, the rough debt estimate and rough population estimate end up at about $100,000 of federal debt per person in the U.S.
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The gross national debt reached $32 trillion for first time in U.S. history on Friday.
The Congressional Budget Office estimates that the nation’s deficit for fiscal year 2023 will be $1.4 trillion, driving the national debt even higher.
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As congress weighs another “deal” to raise the national debt limit, Republican presidential candidate Nikki Haley is blasting the two leading contestants for the GOP nomination for their support of a “reckless” debt ceiling agreement in 2018.
The former South Carolina governor points out that Governor Ron DeSantis was a member of congress who voted for a 2018 bill to increase the nation’s debt ceiling by $1.5 trillion.
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President of the Atlanta Federal Reserve Bank, Raphael Bostic, is under investigation after he admitted to not disclosing specific trading activities that he was involved in during certain restricted time periods, the Epoch Times reports.
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Congress passed the CARES Act last March, sending many taxpayers $1,200, giving $100 billion to health providers, and boosting unemployment benefits by $600 a week, according to Govtrack. The $2 trillion stimulus bill also sent $150 billion to states and localities across the country. Virginia received about $3.1 billion dollars, with a separate $200 million sent directly to Fairfax County.
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The Federal Emergency Management Agency (FEMA) approved for Minnesotans to receive $300 in weekly unemployment benefits this fall. FEMA Administrator Pete Gaynor issued the grant through the Lost Wages Supplemental Payment Assistance program.
The approval comes one day after Governor Tim Walz announced his decision to apply for additional unemployment payments. Walz explained this was a necessary decision based on the continued COVID-19 mandates.
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The U.S. Treasury has published a major report revealing that the federal government has amassed $103.7 trillion in debts, liabilities, and unfunded obligations.
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With just two months remaining in fiscal year 2019, come Sept. 30, the U.S. budget deficit appears likely to come in just shy of $1 trillion, the latest data from the U.S. Treasury shows.
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