U.S. Public Debt Hits $31.27 Trillion, 100.2% of GDP

U.S. 22 trillion. 2%, according to a press release issued on Thursday by the Committee for a Responsible Federal Budget, based on data from the Bureau of Economic Analysis.

U.S. borrowing requires more than $1 trillion in interest payments every year. Fed Chairman Jerome Powell stated that he wants policymakers to have an adult conversation about spending.

Bridgewater founder Ray Dalio has long warned of an economic 'heart attack' where public investment is crowded out by service payments on the debt. Jamie Dimon, CEO of JPMorgan Chase, said this week he expects a bond crisis to ensue at some point because the issue won’t be addressed in time by policymakers.

He added that the debt is a drag on the economy, with American families dealing with inflation and higher costs of living because of Washington’s spending addiction, and it’s only going to get worse until we cut up the credit cards and get serious.

N. She wrote on X that when the bill comes due, expect higher taxes, a weaker dollar, fewer services, a weaker military—and our kids stuck paying for it. A study released yesterday by the Peter G. Peterson Foundation found that 92% of voters said they were worried current debt levels are impacting prices of groceries, energy and housing.

The Peter G. The Peter G. The Peter G. Senator Rand Paul (R-Kentucky) told the Raging Moderates podcast on Wednesday that he opposed the war in Iran in favor of focusing on tasks at home. He told the Raging Moderates podcast that the biggest national security risk we face is our debt and that the further we go into debt the more we are at risk.

Senator Rand Paul (R-Kentucky) told the Raging Moderates podcast that our greatest challenge and our greatest threat is from within, not from without.

He told the Raging Moderates podcast that defending our currency, affording our government, all of the costs that we have domestically, really argues against getting more involved in international conflict—particularly if it’s a war of choice. Senator Jeff Merkley (D), the ranking member of the Senate Budget Committee, told a Committee oversight hearing last month that the countries who will win the 21st Century will be the countries who invest in education and infrastructure, not the countries who drive themselves deep into debt trying to control the farthest reaches of the world.

Senator Jeff Merkley (D) told a Committee oversight hearing last month that robbing our domestic investments to pay for endless wars is a path to economic ruin that will open the door for China and other countries to dominate the future.

The Congressional Budget Office reported in March that $1 trillion was added to the federal deficit in the first five months of the year. CBO director Phil Swagel told Fortune in an exclusive interview that interacting with members of Congress makes me optimistic, and policymakers that are thinking about these things are thoughtful and effective.

U.S. Policy officials, top founders, and thought leaders on Nov. 16-17 in Detroit.