Saturday, December 5, 2020

Tag: Hits $21.5 Trillion

US Gross National Debt Jumps by $1.27 Trillion in Fiscal 2018, Hits $21.5 Trillion

by Wolf Richter, Wolf Street:

But wait — these are the Boom Times!

The US gross national debt jumped by $84 billion on September 28, the last business day of fiscal year 2018, the Treasury Department reported Monday afternoon. During the entire fiscal year 2018, the gross national debt ballooned by $1.271 trillion to a breath-taking height of $21.52 trillion.

Just six months ago, on March 16, it had pierced the $21-trillion mark. At the end of September 2017, it was still $20.2 trillion. The flat spots in the chart below, followed by the vertical spikes, are the results of the debt-ceiling grandstanding in Congress: