America’s National Debt Exceeded $31 Trillion For The First Time

America’s national debt has exceeded $31 trillion for the first time. During the Covid-19 Pandemic, the U.S. government went on a borrowing spree. The borrowing occurred when interest rates were low. Now, inflation has reached a historical high period as well as interest rate hikes by the federal reserve in attempt to subdue rising prices, results in borrowing costs to be much higher. Though this could potentially be dangerous, high levels of inflation are the main concerns at this time.