Commentary
In a recent interview with talk show host Seth Meyers, President Joe Biden mentioned that the United States has the strongest economy it’s had in decades. However, the reality shows that the 2023 gross domestic product growth adjusted for the accumulation of public debt was the worst since 1930. The U.S. national debt hit $32 trillion in June 2023 and surpassed $33 trillion in September 2023. The U.S. national debt now stands above $34 trillion and is rising by $1 trillion every 100 days. The trend is exceedingly worrying because the next trillion dollars comes faster every time—and all this is happening in an alleged recovery with strong employment growth and rising earnings.
