But Washington just keeps hitting the snooze button.
by Eric Boehm
Reason.com
America’s national debt exceeded $10 trillion for the first time ever in October 2008.
By mid-September 2017 the national debt had doubled to $20 trillion. That was so recently that it probably feels like the week before last. Remember Donald Trump issuing a threat of nuclear war against North Korea from a New Jersey country club? Did you see Thor: Ragnarok in theaters? That was fall 2017. It was less than five years ago.
Yesterday, data released by the U.S. Treasury confirmed that the national debt reached a new milestone: $30 trillion.
The speed with which the federal government has piled up the third mountain of 10 trillion I-O-U notes is truly remarkable.