(Nicholas Ballasy) The U.S. national debt passed $30 trillion for the first time in U.S. history on Tuesday, according to Treasury Department data.
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by Nicholas Ballasy, February 2nd, 2022
The federal government ran a budget deficit of $2.8 trillion in fiscal year 2021, according to the Bipartisan Policy Center.
The deficit slightly decreased in FY2021 from a record $3.1 trillion in FY2020, which was the year the coronavirus pandemic began, resulting in historic levels of stimulus spending.
Biden has been pushing for passage of a nearly $2 trillion spending package, titled the Build Back Better Act. The bill has stalled in the 50-50 Senate after West Virginia Democratic Sen. Joe Manchin announced his opposition to the legislation in December.
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About The Author
Nicholas Ballasy has been breaking news for more than a decade in the nation’s capital and questioning political leaders about the most pressing issues facing the nation. Since 2008, Ballasy has interviewed former President Bill Clinton, House Speaker Nancy Pelosi, former President Donald Trump, Sen. Mitt Romney, Sen. Bernie Sanders, Sen. John McCain, former Secretary of State Hillary Clinton, former Vice President Al Gore, former House Speaker Newt Gingrich and more.
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Source:
https://justthenews.com/government/congress/national-debt-passes-30-trillion-first-time-us-history
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