That’s $67,547 for every man, woman, and child in our nation. Debt like this will crash our nation like it has every other nation that spends itself into oblivion.
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.
Disgraceful legacy of not destroying liberalism.
Modern Monetary Theory tells us that the Gummint can purchase whatever it wants so long as it’s in its own currency.
The bad news: it ain’t “modern”. Everybody from JFK onwards believed it, especially Bush and Obummer.
It’s almost like we elected a guy who didn’t care about the national debt. Who rather than continue the trend that Obama had for most of his presidency and lower the deficit, thought it would be a good idea to CUT a bunch of taxes on corporations thinking it would spur growth. How has that worked out for us? The deficit is huge and the debt continues to grow without an end in site.
I know it is SACRILEGE to say here. But I truly thought that Trump should have cut taxes on individuals and actually slightly raised taxes on corporations and cut spending on Military & some social programs. Our country was thriving and growing at the time where it could have taken it. But instead of being content with 3% growth, he thought it would jump to 4 or 5%. I don’t see any evidence of that happening.
I think we missed a great opportunity to pay down our debt.
JV, when Obozo took office, the debt was $6 trillion. When he left, it was around $18 trillion. If you’re going to lie about Obozo’s “fiscal smarts,” at least pick something hard to refute.
Trump (and every single member of Congress) is a Big Spender and none of them give a flying fickle finger of fate about the debt. My grandchildren will be liberally pissing on their graves, too.
Dad29. I assume you understand the difference between DEBT and DEFICIT? The Debt is the total of all your previous deficits. Obama was handed the recession, remember? The gov’t was taking in WAY less money than they were at the end of this administration. Then he spent a ton of money on the stimulus to give money BACK to you and spur growth, which WORKED. And after 2010, ALMOST every year he decreased the deficit.
https://www.thebalance.com/national-debt-under-obama-3306293
I wouldn’t sit here and say that I agree with all his fiscal decisions. But when handed a failing economy, he helped bring it back and we are enjoying what we have now BECAUSE of that. Nothing we have seen Trump do has changed the direction in a significant way. All the trends continue from what we saw when Obama left office.
https://www.forbes.com/sites/chuckjones/2019/02/13/6-reasons-trump-did-not-inherit-a-mess-from-obama/#4dca602d75ef
Now Trump… he was handed a good economy and has managed to drive our debt to unprecedented levels when he didn’t have to. And he doesn’t care because he will either be out of office, in jail, or dead by the time it comes back to bite us.
I think that’s just a trick to keep us from paying attention to any Constitutional crises created by Trump.