America’s national debt has been out of control for a long time. Eight years of President Obama certainly didn’t help either. Now it has reached a record high which should concern all Americans.
CNS News reports:
It’s Official: Debt Tops $20 Trillion for First Time; Jumps $317,645,000,000 in 1 Day
The federal debt officially surpassed $20 trillion for the first time on Friday, as the debt subject to the legal limit set by Congress jumped $317,645,000,000 in one day–following President Donald Trump’s signing of a spending-and-debt-limit deal that will fund the government through Dec. 8.
At the close of business on Thursday, Sept. 7, according to the Daily Treasury Statement for Friday, the total debt of the federal government was $19,844,587,000,000 and the portion of it subject to the legal limit set by Congress was $19,808,747,000. After President Trump signed the legislation suspending the debt limit, the total debt immediately jumped to $20,162,177,000,000 and the portion of it subject to the limit jumped to $20,126,392,000,000, according to the Daily Treasury Statement for Sept. 8, 2017.
That means the total debt jumped $317,590,000,000 on the day it officially topped $20 trillion for the first time and that the part of the debt subject to the legal limit jumped $317,645,000,000 on that day.
As a nation, we need to get our financial house in order. The debt needs to be addressed somehow.