In 6 Months Since Budget Deal: Federal Debt Up $1 Trillion
We will start to threaten the $20 trillion level on U.S. government debt later this year. The national debt is currently just short of $19.27 trillion. We become more indebted to the tune of $12,000 every second and approximately $1.3 billion every day.
The debt was exactly $10.63 trillion on the day Obama took office. The latest calculation from Treasury shows the debt has now hit $19.26 trillion. This is by far the largest increase in debt under any U.S. president in our history. For comparison, the national debt increased $4.9 trillion during the eight-year presidency of George W. Bush.
U.S. Debt Clock: http://www.usdebtclock.org/
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The media hasn't noticed this story since the numbers were released a few days ago. Boehner and McConnell caved on the deal and the debt has exploded in response.
FEDERAL DEBT UP $1 TRILLION SINCE BUDGET DEAL
(CNS WASHINGTON) - In the six months that have passed since then-retiring John Boehner and Senate Leader Mitch McConnell cut a budget deal with President Barack Obama that suspended the legal limit on the federal debt until March 15, 2017, the federal debt has increased by more than $1 trillion.
Negotiating the deal with President Obama was one of former House Speaker John Boehner’s last acts before leaving office last year. When the Senate approved the budget on Oct. 30, the national debt stood at $18.15 trillion. As of Monday, according to the Treasury Department, it was $19.17 trillion.
The $1 trillion increase in the debt in the six months since then equals approximately $6,828 for each of the 151,320,000 persons whom the Bureau of Labor Statistics estimated had a full or part-time job in the United States as of this March.
WHAT DOES JOE BIDEN THINK ABOUT THE DEBT
BIDEN BUSTED FOR DEBT HYPOCRISY
Top Photo by William Banzai7
May 5, 2016 at 10:25 PM
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