On November 2, 2023, the U.S. Treasury's official figure for the debt of the federal government was $33.7 trillion, which is an average of $256,812 for every household in the United States. This doesn't include the federal government's liabilities and obligations, which amount to another $750,000 per household. Regardless of how much taxes people pay, almost everyone suffers the harmful effects of government debt. This is because it is rarely paid down but manifests in the form of inflation, lower wages, weak economic growth, and combinations of such results. Since government debt hurts people through economic mechanisms that are not obvious to the general public, voters seldom hold politicians accountable for running up debt. Hence, the harmful effects continue.