Saturday, October 24, 2020

Tag: US National Debt Spiked $363 billion in Two Weeks

US National Debt Spiked $363 billion in Two Weeks, $1 Trillion in 12 months. But Who Bought This Pile of Treasury Securities?

by Wolf Richter, Wolf Street:

Nope, the Fed dumped. But there was huge demand elsewhere.

The US Gross National Debt has jumped by $363 billion in the two weeks since President Trump signed the law that suspended the debt ceiling. This surge pushed the total debt to $22.39 trillion. That’s up by $1.01 trillion from 12 months ago. And these are the good times. Watch this debt balloon during an economic downturn! Whoopee!  Note the technical term at the top right of the chart: