The national debt has surpassed $34.9 trillion for the first time in U.S. history.
It did so as the federal government’s “borrowing binge and spending spree continues,” EJ Antoni, an economist with the Heritage Foundation, said.
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An economist says “American families are having to eat the rotten fruit from the tree of government overspending” after the U.S. Bureau of Labor Statistics reported on Wednesday that the consumer price index, a key measure of inflation, rose 0.2% in June.
“It’s great news for the consumer that inflation has slowed dramatically from 40-year highs, but we’re still in terrible shape,” EJ Antoni, a research fellow for regional economics in the Center for Data Analysis at The Heritage Foundation, told The Daily Signal in a written statement. (The Daily Signal is The Heritage Foundation’s news outlet.)
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