General Category > Economy/Business

National debt tops $22 trillion for the first time as experts warn of ripple effects

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ABX:
That's 22,000,000,000,000.00


--- Quote ---The national debt surpassed $22 trillion for the first time on Tuesday, a milestone that experts warned is further proof the country is on an unsustainable financial path that could jeopardize the economic security of every American.
The Treasury Department reported the debt hit $22.012 trillion, a jump of more than $30 billion in just this month.
The national debt has been rising at a faster rate following the passage of President Donald Trump’s $1.5 trillion tax-cut package a little more than a year ago and as the result of congressional efforts to increase spending on domestic and military programs. The nation has added more than $1 trillion in the last 11 months alone....

https://www.usatoday.com/story/news/politics/2019/02/12/national-debt-tops-22-trillion-first-time-ever/2849978002/



--- End quote ---

ABX:

Drago:
Need to caption your chart...that is a "debt as a % of GDP" chart I think?

Inflation is going to bite the average American first...now that the Fed has been browbeaten into fewer (or none) interest rate increases.

ABX:

--- Quote from: Drago on February 12, 2019, 11:12:15 pm ---Need to caption your chart...that is a "debt as a % of GDP" chart I think?

Inflation is going to bite the average American first...now that the Fed has been browbeaten into fewer (or none) interest rate increases.

--- End quote ---

Yes, you are correct.

Fishrrman:
See this story about a runaway train up in Canada a few days' back:
http://trn.trains.com/news/news-wire/2019/02/06-site-of-fatal-british-columbia-derailment-has-challenged-cp-for-more-than-a-century?utm_source=Yesmail&utm_medium=email&utm_campaign=News0_TRN_190212_00000

It's almost allegorical, regarding the debt situation...

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