The national debt has shot up sharply in the last several months since President Barack Obama signed a budget deal with Senate Majority Leader Mitch McConnell and then-retiring House Speaker John Boehner.
CNS News pointed out the debt has gone up by more than $1 trillion from the end of October 2015, from just over $18 trillion then to just over $19 trillion at the end of April.
Although the annual federal deficit has been falling in recent years, it's expected to start rising again. And it would shoot up dramatically higher if - or when - interest rates go up again as well.
"How will rising deficits and a burgeoning debt affect Americans?" Forbes contributor Mike Patton asked. "If Congress continues to over-regulate the private sector (consider Obamacare) and fails to reform the tax code, economic growth will continue to be sluggish."
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