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Utopia Talk / Politics / 495 billion debt in 4 weeks
| Sat Sep 07 17:43:10|
US government debt with 495 billion Dollars increase in four weeks
US government debt is growing, and growing, and growing. Hardly noticed by the general public, the debt level is currently often jumping from day to day. From March to August 1st, US government debt was pegged at 22.02 trillion US Dollars. Because the debt ceiling had been reached. It was not until the end of July that it was agreed in Congress that significantly more debt could be incurred by 2021. Then, optically hidden debts that had been postponed into the future could quickly be posted in the official debt statistics from August onwards.
And so the US government debt has risen from 22.022 trillion US Dollars at the end of July to 22.517 trillion US Dollars as of Wednesday, as data from the US Treasury shows. An increase of 495 billion Dollars or 2.24% in just four weeks! From Tuesday to Wednesday alone it was a jump of $18 billion, the day before a jump of $39 billion.
Since Donald Trump’s inauguration in January 2017 (debt level 19.95 trillion Dollars), US government debt has increased by 2.567 trillion Dollars or 12.86%. Now we would think: “But this is gigantic? What madness? But wait. Look at its predecessors. George Bush Junior and Barack Obama managed to double the debt burden of the USA (here the details). So Donald Trump still needs a second term in office and has to put even more pressure on the pump if he wants to achieve similar brilliant results. Of course, it will be more difficult for Trump to keep up with Obama in percentage terms. Because Obama had “only” increased from 11 to 20 trillion Dollars. Trump must increase from 20 to 40 trillion Dollars if he wants to double. Well, that’s bullshit. This stupid percentage effect.
| Sat Sep 07 17:59:53|
it's also unfair to compare Trump to Obama on raw #'s as Obama started w/ a much higher deficit (more than double) what Trump was handed
& Trump is hiking that deficit right back up
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