US National Debt Reaches $100K per Person as of 2023

According to data from the US Treasury Department, the national debt has reached new heights.

National debt now sits over $33 trillion dollars

According to a report from The Center Square, based on US Treasury data, the US national debt sits at $33.87 trillion.

For the fiscal year 2023, which began last October and ended September 30th of this year, the deficit rose by $1.87 trillion.  The US did take in revenues of $4.4 trillion, but spent $6.13 trillion.

The deficits began to spike during COVID, and have continued during the Biden Administration. Soon, the largest payments required of the US Government will be the interest on the debt. US Treasury figures show several programs are approaching insolvency in the next few years (running out of money) including the trust funds for Medicare, Social Security, and national highway maintenance funding.

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If the current US debt were divided equally between every US citizen, each of us would owe just about $100K--that's the amount needed to pay off the debt.

But, according to The Center Square, that does not include government obligations going forward.