National debt jumps $500 billion in less than six months
by Pete Kasperowicz
| August 17, 2018 04:21 PM
The U.S. national debt has increased by more than half a trillion dollars in less than six months, amid predictions that the U.S. is on the verge of returning to another explosion in government borrowing.
The debt rose to an all-time high of $21.4 trillion on Thursday, according to government data posted Friday. That's more than $500 billion above the $20.88 trillion seen March 7, just a bit more than five months ago.
While the debt continues to rise, the pace of growth has slowed for much of 2018. It only took about six months for the debt to jump from $20 trillion to $21 trillion, a mark it hit in mid-March.
Growth of about $500 billion over the last five months is a relative improvement, one that reflects the surge of tax receipts that flowed into the government starting in April, when individual tax returns are due.
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