Washington Examiner: National Debt Surpasses $25 Trillion Amid Coronavirus Pandemic

May 07, 2020

Article by Anthony Leonardi in Washington Examiner

The national debt hit an all-time high.

On Wednesday, the national debt soared above $25 trillion as Congress continues to approve massive spending projects to alleviate consequences resulting from the coronavirus pandemic.

Less than one month ago, the debt topped over $24 trillion, and on Nov. 1, 2019, that number reached $23 trillion. Over the course of President Trump's tenure, the national debt has increased more than $5 trillion.

At the end of March, Congress approved, and Trump signed a $2.2 trillion spending bill, the third relief package designed to alleviate economic concerns of small businesses, large corporations, and workers during the COVID-19 pandemic.

According to the Senate Committee on Small Business and Entrepreneurship, $3.5 billion was burned through every hour because of the program's high demand, leaving hundreds of thousands of businesses stranded.

House Democrats are also considering another $1 trillion measure to provide economic aid to states, "hazard" pay for front-line workers amid the coronavirus, and a bailout for the U.S. Postal Service debt.

During the 2016 presidential campaign, then-candidate Trump promised to wipe out the nation's burgeoning national debt in a period of eight years, insisting that renegotiating trade deals would spark economic growth.

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