America’s National Debt Soars Past $30 Trillion Milestone

America’s ballooning national debt has exceeded the $30 trillion mark for the first time ever, according to Treasury Department data.

The Treasury Department said in a statement (pdf) that, as of Jan. 31, the total public debt outstanding was $30.012 trillion, which roughly works out to just over $90,000 per citizen or nearly $240,000 per taxpayer.

Debt-fueled spending exploded during the pandemic with various programs meant to shield Americans from the economic fallout of lockdowns and other business restrictions, job losses, and reduced consumer spending.

Treasury Department figures show that the total public debt outstanding on Sept. 30, 2019—the end of the fiscal year—stood at $22.7 trillion. Just 12 months later, on Sept. 30, 2020, debt had ballooned to $26.9 trillion, and a year after that to $28.4 trillion, reflecting massive fiscal spending.