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With a government shutdown looming Feb. 9th, a wild week ahead,
Government borrowing, national debt explode under Trump

The National Debt Clock in New York City last Nov.,
the total is about $100 billion higher now.
Photo credit: Shannon Stapleton, Reuters

– Editor’s Note:
Enjoy your tax cut while you can – this country is going further in debt with no way out!
Expect spending cuts to affect American households within the next year.

– “The U.S. government is set to borrow nearly $1 trillion this year, an 84 percent jump from last year”
“It was another crazy news week, so it’s understandable if you missed a small but important announcement from the Treasury Department: The federal government is on track to borrow nearly $1 trillion this fiscal year — Trump’s first full year in charge of the budget.

“That’s almost double what the government borrowed in fiscal year 2017.”

“It’s the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.”

“Treasury mainly attributed the increase to the “fiscal outlook.” The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax law,” by Heather Long, Washington Post.
Read more

– “National debt hits historic $20 trillion mark [Sept., 8, 2017]”
“The U.S. national debt reached $20 trillion for the first time ever last Friday [Sept., 8, 2017] after President Trump signed a bipartisan bill temporarily raising the nation’s debt limit for three months,” By John Bat, CBS News.
Read more

Posted by Steve on February 5, 2018 at 12:05 am | Permalink

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