$85,210 per person – Population of the United States is about 328,000,000
“We will be in a boatload of trouble when we see interest rate spikes,” Democratic Rep. Dean Phillips says, referring to the interest costs on the national debt
A bipartisan group of lawmakers is warning that the national debt –– now estimated to total $85,210 per person –– poses an imminent threat, especially if interest rates spike.
The U.S. government has spent around $6 trillion during the coronavirus pandemic, in addition to regular government appropriations.
The $6 trillion figure does not count the $1.9 trillion American Rescue Plan that President Biden signed a few weeks ago.
The deficit set a record in FY2020 at $3.13 trillion.
And the national debt has hit a record $28 trillion.