A Depressing Milestone
Thanks, Mom and Dad! Look at all this money you’ve left us responsible for! For the first time in American history, the federal government has more than $20 trillion in outstanding debt. The debt ceiling was sitting in the $19.8 trillion range until last Friday when President Trump signed a bill into law that, along with giving additional aid to hurricane victims, suspended the national debt ceiling. Suspending the debt ceiling allows the U.S. Treasury Department to borrow freely until that date, thus increasing the national debt to $20.1 trillion.
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