Great job, Biden! Social Security is going broke and debt is soaring

By Bo Beard | May 16, 2024

Substantial debt

The national debt has surged to $34 trillion and is swiftly approaching $35 trillion. This represents a significant rise from around $27 trillion at the start of Biden's term.
 

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The burden of such a substantial debt is straining other government spending priorities, with interest payments alone consuming a larger portion of the budget. 
 

First seven months

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In the first seven months of the current fiscal year, interest payments on the debt have surpassed both defense and Medicare expenditures in terms of taxpayer costs.