Americans are Concerned About Ballooning US National Debt
Summary
Many Americans are increasingly worried about the growing U.S. national debt as it passes $40 trillion. A recent survey shows most voters want President Donald Trump and Congress to prioritize reducing this debt because of its link to higher costs for everyday items like groceries and housing.Key Facts
- The U.S. national debt surpassed $40 trillion on August 18, more than double what it was a decade ago.
- The debt grew by $11.6 billion during President Donald Trump's two terms and $8.4 billion under President Joe Biden.
- A survey of 1,002 registered voters found 83% are more concerned about the debt now than in past years.
- About 82% of surveyed voters want President Trump and Congress to make debt reduction a top priority.
- 94% of voters consider the cost of living, such as groceries and housing, important when voting.
- Rising debt worries 91% of voters due to its impact on inflation and the prices of essentials.
- Inflation remains high with prices up 3.4% over the year, including large increases in energy and shelter costs.
- Average wages, after adjusting for inflation, slightly declined by 0.2% compared to last year.
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