They say a picture is worth a thousand words. When it comes to President Biden’s spending and its impact on the national debt, the Committee for Responsible Federal Budget has a picture that tells a terrifying tale:
The CRFB calculates a net increase of $4.83 trillion of new debt from new spending since January 20, 2021. That is a huge number, which almost defies comprehension. To make it understandable, let’s divide that debt equally among America’s 131,202,000 households. Each household would be responsible for paying off $36,813 of that new debt.
That’s like going out and buying a Winnebago 2020 Voyage trailer entirely on credit.