The national debt of the United States has surpassed $31 trillion for the first time in history, according to Treasury Department data published on Oct. 4.
Data showed that the total national debt was $31.123 trillion as of Oct. 3, after passing the $30 trillion mark just nine months ago in late January.
President Joe Biden and Congress increased government borrowing amid the COVID-19 pandemic in order to prop up the economy amid job losses and chronic supply chain disruptions, while further borrowing was undertaken to help stimulate the economy coming out of lockdown.
Prior to the pandemic, at the end of 2019, the national debt stood at $22.7 trillion. Just a year later, it had risen to $27.7 trillion and has continued to add gains since….