posted May 21, 2023 11:32 PM
As of April this year, the federal government has had revenues of $2.69 trillion. But it has spent so far $3.61 trillion. The national debt as of April was $31.46 trillion. In 2022, the federal government collected $4.9 trillion. But under the Biden administration, the federal government spent $6.27 trillion. That comes to $1.38 trillion in debt last year.U.S. Department of the Treasury Fiscal Data
It gets worse. Much worse.
Between 2021 and 2031, the debt will be $6 trillion higher than was projected when Biden took office.
Between 2024 and 2033, interest costs from borrowing will total $10.2 trillion.
The Biden budget would increase debt held by the public from $32.7 trillion to $50.7 trillion by 2033.
U.S. Senate Budget Committee
March 2023