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US National Debt Hits Historic $20 Trillion Mark

posted by martyb on Friday September 15 2017, @12:20PM   Printer-friendly
from the mucha-moolah dept.

DeathMonkey writes:

The U.S. national debt reached $20 trillion for the first time ever last Friday after President Trump signed a bipartisan bill temporarily raising the nation's debt limit for three months.

While at Camp David, Mr. Trump, with the stroke of his presidential pen, increased the statutory debt last Friday by approximately $318 billion, according to the Treasury Department. Before the bill's completion, the U.S. debt was sitting around $19.84 trillion.

The legislation allowed the Treasury Department to start borrowing again immediately after several months of using "extraordinary measures" to avoid a financial default. The bill passed last Thursday 80-17 in the Senate and in the House 316-90 on Friday. Around $15 billion in emergency funding for Hurricane Harvey recovery efforts was attached to the borrowing measure.

https://www.cbsnews.com/news/national-debt-hits-historic-20-trillion-mark/

[That works out to just shy of $62,000 per American. --Ed.]

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  • (Score: 4, Insightful) by Rivenaleem on Friday September 15 2017, @12:51PM (2 children)

    by Rivenaleem (3400) on Friday September 15 2017, @12:51PM (#568404)

    Burning straw ment is terrible for the environment. I propose that straw men become the new unit of currency. This way we will be incentivised to sequester atmospheric CO2 by growing more and more straw.

    Starting Score:    1  point
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  • (Score: 1, Funny) by Anonymous Coward on Friday September 15 2017, @01:30PM (1 child)

    by Anonymous Coward on Friday September 15 2017, @01:30PM (#568414)

    How about a "Burning Straw Man Festival"?

    • (Score: 0) by Anonymous Coward on Friday September 15 2017, @02:00PM

      by Anonymous Coward on Friday September 15 2017, @02:00PM (#568432)

      This is sexist against Straw Women.