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National Debt

Federal Debt Update – Nearing $19 TRILLION

  • January 27, 2016

    Following the budget deal brokered by then House Speaker John Boehner (R-OH), the national debt has risen more than half a trillion dollars in the last three weeks, as the suspension of the debt ceiling in late October has allowed the government to borrow as much as it wants. Before the debt ceiling was suspended, the national debt stood at $18.15 trillion. But over the last 22 days, it soared $578 billion. As of the end of November 2015, total national debt stood at $18.72 trillion. 

     

    With just about a year left in office, Barack Obama is on pace to leave the next president with between $19 and $20 trillion in debt. Just six years ago when he took office, total debt stood at $10.6 trillion, which means it now has increased by almost $8 trillion—roughly 70 percent—during his tenure as president

     

    The exploding debt remains an issue of top concern for many Americans, some feeling as though they are the only ones who can take action, since Congressional leaders and the White House have done little to balance the budget since the 1990’s. Just this month, USA Today reported that the U.S. Treasury Department received a check for $2.2 million from an anonymous donor to pay down the national debt.


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