The gross national debt hits new record at $33.04 trillion

In just three months it increased by one billion dollars. The Committee for a Responsible Federal Budget warns that this poses a significant risk to the country.

The United States' gross national debt exceeded $33 trillion, an all time high. Specifically, it reached $33.04 trillion on Monday afternoon, one billion more than three months ago. Four decades ago, the gross national debt was below $1 trillion.

The president of the Committee for a Responsible Federal Budget, Maya MacGuineas, pointed out that people don't seem to realize how dangerous this is for the country:

The United States has hit a new milestone that no one will be proud of: our gross national debt just surpassed $33 trillion. Debt held by the public, meanwhile, recently surpassed $26 trillion. We are becoming numb to these huge numbers, but it doesn’t make them any less dangerous.

This committee is an organization that aims to educate the public on issues with significant fiscal policy impact. "The Congressional Budget Office confirmed just last week that the underlying deficit is going to roughly double from last fiscal year to this one. Instead of hearing about solutions, we hear promises of which programs our leaders are unwilling to touch and which taxes they are unwilling to raise. That kind of talk is not only pandering, but it’s also downright irresponsible when we have a mess like this on our hands," MacGuineas said.

We need to take "a serious look at health care, Social Security and the tax code"

"The Fiscal Responsibility Act was a step in the right direction, but getting the debt under control will require taking a serious look at health care, Social Security, and the tax code. If policymakers find it too difficult to do this under regular order, then they should put in place a bipartisan fiscal commission to propose solutions," she said.

Janet Yellen doesn't see the risk

So much national debt can lead the country to default. It also seriously affects families. The fact that it is so high and has surpassed its all-time high weakens the economy and poses a serious risk.

Treasury Secretary Janet Yellen isn't worried. She doesn't believe the United States is in danger. "I don’t see any signs that the economy is at risk of a downturn," she said in an interview on CNBC.