What you’re about to read may seem unfathomable, but it is true. The United States government has borrowed nearly $90,000 a second for the entire year.
What this adds up to is the federal government borrowing anywhere between $2.2 trillion and $2.5 trillion this year while pushing the national debt to $35 trillion.
As vice chairman of the Joint Economic Committee (JEC), it’s my moral obligation to tell the truth about the math and help the American public understand the scale of policy decisions ahead of us.