US Gross National Debt Spikes $1 Trillion in Less Than 6 Months

As of the latest reporting by the Treasury Department, the US gross national debt rose by $41.5 billion on Thursday, February 22, to a grand total of $20.8 trillion.
Here’s the thing: On September 7, 2017, five-and-a-half months ago, just before Congress suspended the debt ceiling, the gross national debt stood at $19.8 trillion.
At that time, I was holding my breath waiting for the gross national debt to take a huge leap in a single day – as it always does after the debt ceiling gets lifted or suspended – and jump to the next ignominious level. It sure did the next day, when it jumped $318 billion.
And it continued. Over a period of 8 weeks, the gross national debt jumped by $640 billion. Four weeks after that, it had ballooned by $723 billion, at which point Fed Chair Yellen – whose cheap-money policies had enabled Congress to do this for years – said that she was “very worried about the sustainability of the US debt trajectory.”
Then Congress served up another debt ceiling – a regular charade lawmakers undertake to extort deals from each other, beat the White House into submission, and keep the rest of the world their on their toes. It goes like this: First they pass the spending bills, directing the Administration to spend specific amounts of money on a gazillion specific things spread around specific districts. Then they block the means to pay the credit card bill.
That debt ceiling was suspended on February 8, at which point the gross national debt began to surge again, adding $1 trillion ($960.4 billion rounded to the nearest 100 million), a 5% jump in the gross national debt in just 5.5 months:

US Gross National Debt Spikes $1 Trillion in Less Than 6 Months US-Gross-National-Debt-2011-2018-02-24

US Gross National Debt Spikes $1 Trillion in Less Than 6 Months US-Gross-National-Debt-2011-2018-02-24

https://wolfstreet.com/2018/02/24/us-gross-national-debt-spikes-1-trillion-in-less-than-6-months/

Oh man

US Gross National Debt Spikes $1 Trillion in Less Than 6 Months

US Gross National Debt Spikes $1 Trillion in Less Than 6 Months

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