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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.]
(Score: 2) by etherscythe on Friday September 15 2017, @05:54PM
This may or may not be true of a family business. It's almost certainly untrue of massive bank accounts. Warren Buffet and Bill Gates have limited their children's inheritance, probably so they don't turn out like Paris Hilton. Lineal succession has a long tradition, but its flaws are some of the most well-documented history on the planet.
"Fake News: anything reported outside of my own personally chosen echo chamber"