US Debt Breaks $17 Trillion
Congratulations Congress and White House! Debt has now breached 17 trillion dollars, according to the Treasury Department on Friday, October 11, 2013. The jump of $328 billion dollars pushed it over the $17 trillion mark. The $328 billion dollar increase was also a record, from the $238 billion dollar jump two years ago. The increase was due to a “replenishing” of its stock for “extraordinary measures”. This replenishing occurs as soon as there is a new debt space provided. Thanks for raising that debt ceiling Congress! Generally, Congress would set a cap for the borrowing limit, or a debt ceiling. However, this is the first time in history a cap was not provided. Congress with President Obama set a deadline, instead of a.... Continue Reading
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