The national debt continues to rise sharply to record levels during the ongoing debate in Congress over the next federal spending bill.
The federal government has already piled another $383 billion onto the debt so far into the 2024 fiscal year, which began on Oct. 1.
It appears that increasing Americans’ tax burden is a non-partisan issue: Throughout the last 15 to 20 years, the national debt has steadily risen under the leadership of lawmakers from both political parties.
Senate Republican Leader Mitch McConnell, the longest-serving Senate Republican leader in history, was elected Republican whip in 2003. He started as GOP leader in January 2007 when the national debt was approximately $9 trillion.The national debt is now fast approaching $34 trillion, according to the most recent U.S. Treasury Department data, meaning it has gone up by $25 trillion since McConnell became leader of the Senate Republicans. Some conservative lawmakers have called on […]
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