The national debt has increased by $3.37 trillion since President Joe Biden took office
The US national debt has officially exceeded $31 trillion for the first time in history, the Treasury Department confirmed on Tuesday.
The US government owed a total of 31 trillion, 123 billion, 887 million, 781 thousand, 401 dollars and 34 cents as of October 3, according to publicly released Treasury figures.
At the moment of President Joe Biden’s inauguration, in January 2021, the debt stood at $27,75 trillion, according to the Congressional Research Service.
“It was $21 trillion just five years ago,” Congressman Chip Roy, a Texas Republican, lamented on Twitter after the news broke.
The national debt stood at $19.94 trillion when President Donald Trump took office in 2017, but exploded over the past several years as the Federal Reserve printed money to deal with the Covid-19 pandemic.
Most of the debt is held by private individuals, to…
