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National Debt Reaches $35 Trillion For First Time In US History by Daily Caller News Foundation July 29, 2024 at 4:50 pm in News, Wire Since Biden was inaugurated, the national debt has increased by over $7 trillion, from $27.7 trillion on January 20, 2021 to now over $35 trillion as of July 29, 2024. If the debt were to be divided among the roughly 258.3 million adults in the U.S., each adult would have roughly $135,500. “The way in which the United States government was able to become so cripplingly indebted reminds of the old adage about how one goes bankrupt: at first very slowly, and then very quickly,” Peter C. Earle, senior economist at the American Institute for Economic Research, told the Daily Caller News Foundation. “The story of the last sixty or seventy years has been one in which the US government has arrogated to itself an increasing number of roles, many of which are vastly outside the purview of the US Constitution. As the Federal government has come to play an increasing role in the lives of everyday citizens and on the world stage, costs have risen vastly beyond what taxes cover.” https://ijr.com/national-debt-reaches-35-trillion-for-first-time-in-us-history/