{"id":15808,"date":"2024-12-21T15:19:23","date_gmt":"2024-12-21T15:19:23","guid":{"rendered":"https:\/\/lonecandle.com\/?p=15808"},"modified":"2024-12-21T15:19:24","modified_gmt":"2024-12-21T15:19:24","slug":"the-national-debt-just-hit-36-trillion-does-trump-have-a-plan-to-control-it","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=15808","title":{"rendered":"The National Debt Just Hit $36 Trillion. Does Trump Have a Plan To Control It?"},"content":{"rendered":"\n<p>&#8220;the Treasury Department issued another reminder about the cost of doing nothing to change course. The national debt hit $36 trillion\u2014less than four months after&nbsp;<a href=\"https:\/\/www.nytimes.com\/2024\/07\/29\/us\/politics\/national-debt-35-trillion.html\" target=\"_blank\" rel=\"noreferrer noopener\">surpassing the $35 trillion mark<\/a>.<\/p>\n\n\n\n<p>Evenly divided, that means every American is now&nbsp;<a href=\"https:\/\/reason.com\/2024\/06\/19\/the-national-debt-is-now-so-high-that-every-american-essentially-owes-100000\/\" target=\"_blank\" rel=\"noreferrer noopener\">six figures in the red<\/a>, thanks to the decisions made in Washington, D.C., over the&nbsp;<a href=\"https:\/\/reason.com\/2024\/07\/01\/numb-to-the-numbers\/\" target=\"_blank\" rel=\"noreferrer noopener\">past few decades<\/a>. The trajectory ahead looks no better. The federal government is on pace to run multitrillion-dollar deficits for the foreseeable future\u2014and that&#8217;s the rosy scenario, which assumes no recessions, wars, pandemics, and the like. Measured against the size of the U.S. economy, the debt is&nbsp;<a href=\"https:\/\/www.pgpf.org\/blog\/2023\/09\/why-is-the-us-fiscal-outlook-more-daunting-now-than-after-world-war-ii\" target=\"_blank\" rel=\"noreferrer noopener\">approaching the record high<\/a>&nbsp;set in the final year of World War II. The rising debt means&nbsp;<a href=\"https:\/\/reason.com\/2024\/10\/09\/budget-deficit-hit-1-8-trillion-after-huge-increase-in-borrowing-costs\/\" target=\"_blank\" rel=\"noreferrer noopener\">higher annual interest payments<\/a>&nbsp;that will complicate the federal budget, likely require higher taxes, and&nbsp;<a href=\"https:\/\/reason.com\/2024\/06\/05\/the-national-debt-is-making-us-poorer\" target=\"_blank\" rel=\"noreferrer noopener\">make everyone poorer<\/a>.&#8221;<\/p>\n\n\n\n<p><a href=\"https:\/\/reason.com\/2024\/11\/15\/the-national-debt-just-hit-36-trillion-does-trump-have-a-plan-to-control-it\">https:\/\/reason.com\/2024\/11\/15\/the-national-debt-just-hit-36-trillion-does-trump-have-a-plan-to-control-it<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;the Treasury Department issued another reminder about the cost of doing nothing to change course. The national debt hit $36 trillion\u2014less than four months after surpassing the $35 trillion mark.<br \/>\nEvenly divided, that means every American is now six figures in the red, thanks to the decisions made in Washington, D.C., over the past few decades. The trajectory ahead looks no better. The federal government is on pace to run multitrillion-dollar deficits for the foreseeable future\u2014and that&#8217;s the rosy scenario, which assumes no recessions, wars, pandemics, and the like. Measured against the size of the U.S. economy, the debt is approaching the record high set in the final year of World War II. The rising debt means higher annual interest payments that will complicate the federal budget, likely require higher taxes, and make everyone poorer.&#8221;<\/p>\n<p>https:\/\/reason.com\/2024\/11\/15\/the-national-debt-just-hit-36-trillion-does-trump-have-a-plan-to-control-it\/<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[7,278,221,1193,10,279,170],"class_list":["post-15808","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-debt","tag-deficit","tag-donald-trump","tag-government-spending","tag-national-debt","tag-spending","tag-trump"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/15808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15808"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/15808\/revisions"}],"predecessor-version":[{"id":15809,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/15808\/revisions\/15809"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}