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

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: 2) by VLM on Friday September 15 2017, @06:39PM

    by VLM (445) Subscriber Badge on Friday September 15 2017, @06:39PM (#568613)

    The two are not necessarily conflicting.

    Also we're more honest about it. Some of the stuff in China is pure WTF, but put on a nice smile so as not to lose face. The Russians invented the Potemkin Village, the Chinese perfected it and produce it on an industrial scale.

    A third answer is most of the time we aren't going to build good stuff in stupid areas. You want to live in a shack, find a house in a flood plain that gets washed away every couple years. Eventually people will get sick of it and move, until then they get shacks.

    A forth answer is most of our rebuilt stuff is really good, but the minority of junk is very loud when you have a country this big, therefore we hear endlessly about rebuilt junk.

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