Here’s how fast the federal government is borrowing piles of money: when the national debt hit $33 trillion in mid-September, the current National Football League (NFL) season was already two weeks old.
You don’t have to be a fan of sports to know that football season in America isn’t particularly long—excluding the playoffs, teams play 17 games over the span of 18 weeks. The final games of the season are scheduled to be played this upcoming weekend, a few days after the national debt officially surpassed a new threshold: $34 trillion, according to an announcement made Wednesday morning by the Treasury Department.
In other words, don’t feel bad about how much money you’ve probably lost on sports betting and fantasy leagues this year. The federal government has run up a $1 trillion tab in less time—and the next trillion-dollar threshold isn’t far off.
“Looking ahead, debt will continue to skyrocket as the Treasury expects to borrow nearly $1 trillion more by the end of March,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation, in a statement. “Adding trillion after trillion in debt, year after year, should be a flashing red warning sign to any policymaker who cares about the future of our country.”
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