(CNS News) – When asked if the $28.4 trillion federal debt was too much, Sen. Richard Blumenthal (D.-Conn.) said, “No,” and added that “it’s an investment that we need to make.”
At the U.S. Capitol on Tuesday, CNS News asked the senator, “The debt of the federal government is $28.4 trillion. Is that too much?”
Sen. Blumenthal said, “No, it’s an investment that we need to make to meet the challenges of our nation in the coming century. It’s an investment for ourselves and our children, and both the physical and the human assets that we need to meet the challenges for them.”
According to the U.S. Treasury Department, the total public debt outstanding as of Aug. 9, 2021, was $28,427,651,083,061.54, or roughly $28.4 trillion.
The federal debt did not surpass $1 trillion until fiscal 1982. That fiscal year, according to the Treasury, the debt started at $997,855,000,000 and ended at $1,142,034,000,000.
Over the last 39 years, the debt has ballooned, from $1.1 trillion to $28.4 trillion.