National debt tops $22 trillion for the 1st time in history

(Image credit: MANDEL NGAN/AFP/Getty Images)

published 13 February 2019

The Treasury Department reported on Tuesday that for the first time, the national debt has soared above $22 trillion.

The national debt was at $19.95 trillion when President Trump took office. Over the last month, the national debt increased by $30 billion to $22.012 trillion, quickly rising due to the 2017 Republican tax bill and an increase in domestic and military spending. Experts say this could lead to an increase in interest rates, and make it more difficult for the government to cover programs.

Judd Gregg and Edward Rendell, co-chairman of the nonpartisan Campaign to Fix the Debt, told USA Today that the debt surpassing $22 trillion is "another sad reminder of the inexcusable tab our nation's leaders continue to run up and will leave for the next generation." Gregg and Rendell added that the "fiscal recklessness over the past few years has been shocking," and few people have been "willing to step up with a real plan."

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Explore More

Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.

Subscribe to The Week

Sign up for The Week's Free Newsletters

Sign up for Today's Best Articles in your inbox