US Gross National Debt Spikes by $640 Billion in 8-Weeks to $20.5 Trillion

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imagine, even for Congress.

In its infinite wisdom, Congress didn’t raise the debt ceiling in September; it only suspended it through December 8, after which the horse-trading will start all over again. But Congress is busy listening to lobbyists about the tax cuts – who gets them and who pays for them – and the debt ceiling isn’t even on the back burner. So here we go again.

But this charade has some peculiar effects, beyond its entertainment value: For months on end, it covers up the true extent of US government debt, and its continued surge. Then suddenly, the floodgates open.

Over just these six years, the debt has ballooned by $5.7 trillion, or 39%, from $14.8 trillion [...]

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US Gross National Debt Spikes by $640 Billion in 8-Weeks to $20.5 Trillion - Wolf Street

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