In another milestone for the Federal government, over the weekend, the national debt surpassed 21 trillion dollars. Despite having the GOP (those prognosticators of fiscal discipline) running every branch of government, the debt has grown 5%, or 1.1T since Donald Trump took office in January 2017. Nearly half of this increase has occurred since February 9th. By comparison, Barack Obama managed to grow the debt by a little over 2 trillion dollars in the same span.
Thankfully, congress will be able to continue to spend like drunken sailors until at least March, 2019. At that point, we’ll need to increase the debt limit once again to tap into the seemingly endless free money which can be quite literally written into existence by the Federal Reserve.
Depending upon what projection you prefer, the national debt will increase by anywhere from 2 to 4 trillion dollars in the next 4 years. Not to fear though, during the 2016 campaign, the Donald promised to eliminate the national debt by the end of his second term… OK, that’s at least a positive goal, though naively optimistic. Of course, a couple months after saying this, the soon to be president …
Read more at the Texian Partisan
(The opinions in this article are the opinions of the author and do not necessarily represent the views of Southern Nation News or SN.O.)