In fiscal year 2022, which ended on September 30, the federal budget deficit totaled nearly $1.4 trillion. The deficit for September was $430 billion, primarily because of student debt relief. The deficit for October was $83 billion.
https://www.cbo.gov/publication/58592/html
On 10/3/22, the national debt exceeded $31 trillion for the first time in history. I expect it to cross $32 trillion about July 1, 2023.
When did it first exceed $15.5 trillion? On about 3/8/12. So it doubled in the last 9.5 years. So this should be at $62 trillion in 2031.
Update 12/8/22: The net interest on the debt increased 29% YOY from FY2021 to FY2022, from $413 billion to $534 billion. At this rate, it will double every 3 years. The principal is going up as well as the rate in a doom feedback loop. Will it exceed $1 trillion in 2025?
