National debt hits new milestone, topping $22 trillion

[TexasTowelie]

Source: AP

WASHINGTON (AP) — The national debt has passed a new milestone, topping $22 trillion for the first time.

The Treasury Department’s daily statement showed Tuesay that total outstanding public debt stands at $22.01 trillion. It stood at $19.95 trillion when President Donald Trump took office on Jan. 20, 2017.

The debt figure has been rising at a faster pace following passage of Trump’s $1.5 trillion tax cut in December 2017 and action by Congress last year to increase spending on domestic and military programs.

Michael Peterson, head of the Peter G. Peterson Foundation, says “our growing national debt matters because it threatens the economic future of every American.”

Read more: https://www.apnews.com/91b54fd7207c45eb93523567152e43dc

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Trumponomics at work (which is more than can be said for Trump).

[sakabatou]

1. Remember, the national debt only becomes a problem when a Dem is in charge

[ck4829]

2. +1

[sandensea]

3. You can practically see the twinkle in Paul Singer's eye.

[democratisphere]

4. And you thought the increase in the national debt was all Obama's fault.

[progree]

5. 10.3% increase in 2 years. Give him time ....

Last edited Wed Feb 13, 2019, 12:42 AM - Edit history (1)

"We’ve got to get rid of the $19 trillion in debt. ... Well, I would say over a period of eight years. And I’ll tell you why.”

-- DJT, March 31, 2016 interview with the Washington Post.

Politifact meter rates this Trump promise "Stalled". That's the most wildly generous rating possible for this.

[Bengus81]

6. Inherits a stable economy and a 4.7% unemployment rate......

And manages to BLOW $2 TRILLION in slightly less than two years. Trump hit $2 TRILLION added to the ND on 1/15/19. The speed will increase with each billion in tax revenue that Corporations get out of paying because of the tax SCAM.

[oldsoftie]

7. Surprising no one. In a few months we'll see another story about it hitting 23. Nobody cares.

Nobody will sponsor any of the heavy lifting that would be needed to actually reduce it to an acceptable level. R or D. Because it would be painful, on some level, to everyone in order to be fixed. "Taxing the rich" wont even bring in enough extra revenue to pay for what we've already been committed to, much less pay down the debt.
I never had any kids, so it wont really hit me when it all goes to hell. But I feel sorry for my friends grandkids.

[The Liberal Lion]

13. THIS

The only thing I would add to your comment is that I don't think you are going to have to wait for your friends grandkids to see the results of this debt binge by the republicans. Debt itself isn't that bad if it leads to increased productivity and increased general welfare. The debt that trump and his nazis are making is doing neither. It is therefore unsustainable. When you look at the right wing spending priorities we see improved revenues to benefit the people is not the aim. As a result implosion becomes reality.

[IronLionZion]

8. Republicans never utter one peep about the national debt

when it's a Republican president giving tax cuts during a strong economy or starting a pointless war or building a useless border wall.

But if a Democratic president wants to provide economic stimulus during a recession or help people get health insurance, then the debt is strangling innovation and killing jobs somehow. I remember hearing about Obama giving food stamps and phones and all sorts of free stuff

Obama is killing our economy now by shooting Trump's bull market in the head and causing a record number of auto loan defaults. Damn Democrats.

[summer_in_TX]

9. 104 percent of GDP.

Scary stuff.

[cstanleytech]

10. We go from surplus under a Democrat to massive debt due to the mismanagement of two Repugnant

administrations and their party.

[oldsoftie]

14. But the gross national debt still rose each of the "surplus" years anyway.

Iraq was a HUGE addition to it after the Clinton years.
Cheney should be made to pay for it all since HE made it up

[SunSeeker]

11. And taxes on the middles class have gone up. Tax and spend Republicans!

[The Liberal Lion]

12. At this number every American currently owes about $60k to the government

PLUS interest. Mind you this amount is growing. And what are you getting for this 60k? Quite frankly, nothing but failure and ineptitude. Yeah, not me. I'm not paying for this shit.

[Blue_Tires]

15. I never want to hear about "fiscally responsible" Republicans ever again...

[ffr]

16. Deficit spending is deferred taxes. Simple as that. Why so much during good times?

Because corporate welfare is the only way to prop up a tRump economy.