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 Does Anyone In Washington Even Care That We Are 20 Trillion Dollars In Debt?

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PostSubject: Does Anyone In Washington Even Care That We Are 20 Trillion Dollars In Debt?   Wed May 03, 2017 11:09 am

Debt Insanity: Does Anyone In Washington Even Care That We Are 20 Trillion Dollars In Debt?

Michael Snyder
End Of The American Dream
May 3, 2017
There has been a tremendous amount of talk about the spending deal that was just reached in Congress.
Most of the focus has been on who “won” and who “lost” politically, and if you have been keeping up with my articles you definitely know my opinion on the matter. But what nobody is really talking about is that this deal actually increases spending at a time when our debt has been absolutely exploding. We added more than a trillion dollars a year to the U.S. national debt during Obama’s eight years in the White House, and our debt binge actually accelerated toward the end of his second term. In fact, the national debt increased by more than 1.4 trillion dollars during fiscal 2016…
Quote :
In fiscal 2016, which ended on Friday, the federal debt increased $1,422,827,047,452.46, according to data released today by the U.S. Treasury.
At the close of business on Sept. 30, 2015, the last day of fiscal 2015, the federal debt was $18,150,617,666,484.33, according to the Treasury. By the close of business on Sept. 30, 2016, the last day of fiscal 2016, it had climbed to $19,573,444,713,936.79.
Since we are already in so much debt, we might as well shoot for the moon, right?
This new spending deal increases spending in a whole bunch of different ways, but it doesn’t do anything to raise more revenue.

At the moment, the U.S. national debt is stuck at $19,846,087,305,498.20 because the debt ceiling has not been raised. The federal government is using accounting tricks to keep that number from moving, but the moment the debt ceiling is finally raised by Congress that number will jump up by hundreds of billions of dollars.
By the time fiscal 2017 is over, we will almost certainly have added at least another trillion dollars to the debt, and the Congressional Budget Office is projecting that an additional $10 trillion will be added to the debt over the next ten years.
These days we toss around the phrase “a trillion dollars” as if it isn’t a big deal.
But it is a big deal.
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