1 of 1- Common Sense
- Exchanger
Offline - Registered: 2/16/2015
- Posts: 3,256
Total government debt hit a record $19.38 trillion
The U.S. national debt is creeping up again, after holding steady for the last few months thanks to the annual flood of individual and corporate tax receipts.
Total government debt hit a record $19.38 trillion on Thursday, up nearly $98 billion from the day before. It's the first time it has ever exceeded $19.3 trillion.The debt will soar higher still in the coming months, and is expected to approach $20 trillion by the time President Obama leaves office.
“We hold these truths to be self-evident,” former vice president Biden said during a campaign event in Texas on Monday. "All men and women created by — you know, you know, the thing.”
- tennyson
- Exchanger
Offline
- Registered: 2/06/2015
- Posts: 6,654
Re: Total government debt hit a record $19.38 trillion
It certainly is the case that the USA debt is one topic that needs to be addressed. Problem is that in an election cycle in particular no one wants to address the hard and unpopular which it will be. Our total debt now is about 104% of our country's GDP (Gross Domestic Product) which is the monetary value of all the finished goods and services produced within the US for one year.
It is interesting to note, however, that China which is a country that some believe is in such a great shape in comparison to the US has a debt to GDP ratio of almost 250%. See the story below from The Guardian this June of 2016.
Last edited by tennyson (7/02/2016 10:03 am)
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"