Thread: US national debt tops $20T for first time in history

US national debt tops $20T for first time in history

Published September 11, 2017
Government Spending FOXBusinessOpens a New Window.


Why Trump struck a bipartisan deal with Democrats on the debt ceiling

Rep. Ron DeSantis (R-FL) discusses President Trump's decision to reach across the aisle and work with the Democrats on extending the debt ceiling.


The national debt surpassed $20 trillion for the first time in U.S. history on Friday.

According to data released Monday, the total national debt climbed about $318 billion to $20.162 trillion as of Friday, the same day President Donald Trump signed a bill suspending the debt ceiling and allowing the federal borrowing limit to extend until Dec. 8. The deal Trump signed, which also allocated more than $15 billion in disaster aid for Hurricane Harvey, was passed 316-90 in a House vote; all opposed to the measure were Republicans.

“Surpassing $20 trillion in debt is the latest indicator of our nation's dire fiscal condition,” Michael A. Peterson, president and CEO of the Peter G. Peterson Foundation, a non-partisan organization dedicated to addressing America’s long-term fiscal challenges, said in a statement. “As a result of our inability to address our growing debt, we are now on pace to spend $6 trillion on interest alone over the next 10 years.”

The U.S. debt ceiling had been capped at around $19.84 trillion since March 15. The 2017 fiscal year budget expires at the end of September.

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“America’s debt is projected to grow and compound rapidly in the years ahead. Our budget deficit is on track to exceed $1 trillion annually in just five years,” Peterson said. “The good news is that many solutions exist. In the coming months, Congress and the administration have a critical opportunity to enact fiscally responsible tax reform that grows the economy, not the debt.”

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America’s debt is projected to grow and compound rapidly in the years ahead. Our budget deficit is on track to exceed $1 trillion annually in just five years,” Peterson said. “The good news is that many solutions exist. In the coming months, Congress and the administration have a critical opportunity to enact fiscally responsible tax reform that grows the economy, not the debt.”

Yes, grow the economy, not the debt. Create more good jobs, not more debt.

Pass Rand Paul's bill to stop foreign aid and put that money into rebuilding TX, LA, FL

Stop the waste, fraud and abuse of our money.

Defund refugee, asylum and illegal alien programs

Cut the pork projects!

Let's stop all foreign aid excerpt direct humanitarian aid to any country - ANY country.

Send the illegals home, get them off welfare, put Americans to work and get them off welfare.

Tell every department in the government to cut the budget by at least 20%, and do it by cutting waste.

If we are going to help refugees, get with the UN and find a place near their home or in their homeland for them to live. It would be cheaper, better for them and better for us.
We owe those whose countries and lives we have destroyed for very bad reasons.

Better still, go to Halliburton, KBR, Bechtel, and all those who scammed the American government out billions in this never-ending war, get back those stolen dollars and use that to help the refugees in that country.

This debt is dangerous. The vultures are circling this country as we speak, if we don't get rid of that debt -----

Trump cut $11 billion of this crap out of the State Department budget, but ole captured McCain put all that "pork" back in, he's Chairman of the committee that reviews and approves State Department appropriations. I really can't stand that hypocrite any more. I never really like him to begin with, but now I despise him.