U.S. debt jumps a record $328 billion â€” tops $17 trillion for first time

sermonindex Oct 19, 2013

U.S. debt jumped a record $328 billion on Thursday, the first day the federal government was able to borrow money under the deal President Obama and Congress sealed this week.

The debt now equals $17.075 trillion, according to figures the Treasury Department posted online on Friday.
The $328 billion increase shattered the previous high of $238 billion set two years ago.

The giant jump comes because the government was replenishing its stock of "extraordinary measures” ”” the federal funds it borrowed from over the last five months as it tried to avoid bumping into the debt ceiling. ...

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Sidewalk Oct 19, 2013

It is as if one group is pushing on the gas and the other group trying to push the brake. Smoke is pouring out and the smell of burning is hitting the nostrils, all at 100 miles per hour, and the bridge ahead has been washed away.

Oh Lord hear my cry!

M

murrcolr Oct 20, 2013

The level of borrowing is unsustainable and a correction will come....

sermonindex Oct 20, 2013

Oh Lord hear my cry!

for what?

D

dohzman Oct 21, 2013

I believe we will eventually see China step in, almost have to.

M

murrcolr Oct 21, 2013

The Greatest Depression ever will soon be on us.