While the major news story in the past 24-hours has been the Iowa caucuses, one major news story may just throw a wrench into the 2016 election. Under President Barack Obama, America’s debt has officially reached a record $19 trillion!!
From The Washington Examiner:
The national debt hit $19 trillion for the first time ever on Friday, and came in at $19.012 trillion.
It took a little more than 13 months for the debt to climb by $1 trillion. The national debt hit $18 trillion on Dec. 15, 2014.
That’s a slightly stepped-up pace compared to the last few $1 trillion mileposts. It took about 14 months for the debt to climb from $17 trillion to $18 trillion, and about the same amount of time to go from $16 trillion to $17 trillion.
Back in November, the debt ceiling was suspended again, after having been frozen at $18.1 trillion for several months. As soon as it was suspended, months of pent-up borrowing demand by the government led to a $339 billion jump in the national debt in a single day.
Under current law, the debt ceiling is suspended until March, 2017, meaning the government can borrow without limit until then. Obama is expected to leave office with a total national debt of nearly $20 trillion by the time he leaves office.
Given this latest news, there is even more of a reason to stop Hillary Clinton from becoming our next president and continuing President Obama’s reckless spending agenda!
What are your thoughts on the national debt reaching $19 trillion? Share your opinion below!