History Landmark Dotard-land DEBT O$P$ $22Trillions China owns USA! MAGA!!

[obama.bin.laden]

https://www.rt.com/business/451325-debt-record-22-trillion/


History made: US national debt tops $22 trillion
Published time: 13 Feb, 2019 00:38Edited time: 13 Feb, 2019 00:38

© Global Look Press/Nikolay Gyngazov

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The US national debt has climbed above $22 trillion. It is projected to continue rising by a trillion each year over the next decade, due to the cost of pensions and medical care for the retiring Baby Boomers.
On Tuesday, the US Treasury Department published the daily statement showing outstanding public debt standing at $22.01 trillion. The sum total of government budget deficits has increased by $2.06 trillion since President Donald Trump took office in January 2017.

National Debt Tweets

✔@NationalDebt
https://twitter.com/NationalDebt/status/1095431279816790016

$22,012,840,891,685.32 (+) #NationalDebt

362
5:15 AM - Feb 13, 2019
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The Congressional Budget Office (CBO) is projecting the deficit for fiscal year 2019 to be $897 billion, a 15 percent increase over last year’s $779 billion – and greater than the entire Pentagon budget, for comparison’s sake. The CBO has estimated the deficit will continue to increase by $1 trillion annually starting in 2022, due to the rising cost of entitlement programs like Social Security and Medicare.
The deficit nearly doubled during the administration of President Barack Obama, growing by $9.3 trillion as the Federal Reserve engaged in massive “quantitative easing” programs to bail out the financial sector from the crash of 2008.

zerohedge@zerohedge
https://twitter.com/zerohedge/status/1095445516001988608

US National Debt Tops $22 Trillion https://www.zerohedge.com/news/2019-02-12/us-national-debt-tops-22-trillion …

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6:12 AM - Feb 13, 2019
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US National Debt Tops $22 Trillion
Total US debt has now risen by over $2 trillion since Trump took office... but notably slower than Obama's pace of borrowing...
zerohedge.com​

223 people are talking about this



The new debt record “is another sad reminder of the inexcusable tab our nation’s leaders continue to run up and will leave for the next generation,” according to Judd Gregg and Edward Rendell, co-chairmen of the Campaign to Fix the Debt, a project of the nonpartisan Committee for a Responsible Federal Budget.
One expert has pointed out that just the current unfunded liabilities amount to over 500 percent of last year’s gross domestic product, and paying them down would require 10 percent of the GDP for more than five decades, which is unlikely to actually happen at best.

Jeffrey Gundlach

✔@TruthGundlach
https://twitter.com/TruthGundlach/status/1089693631689121792

Currently $122 Trillion US unfunded liabilities per Debtclock. That’s 564% of Fiscal ‘18 GDP. To fund would require 10% of GDP for 56+ yrs.

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More bad news came from the Federal Reserve Bank of New York, which published the US household debt and credit report on Tuesday showing the private debt of Americans reached the record $13.5 trillion at the end of 2018.
Though mortgage debt has gone down for the first time in two years, credit card borrowing matched the $870 billion mark it had reached prior to the 2008 crisis.
ALSO ON RT.COMAs US debt spirals to $22 trillion, former Fed chair Janet Yellen is suddenly concerned
For more stories on economy & finance visit RT's business section

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[AhMeng]

Every President and Congress kick the can down the road...Lol

 

[obama.bin.laden]

https://amp.usatoday.com/amp/2849978002




Subscribe
National debt tops $22 trillion for the first time as experts warn of ripple effects



Michael Collins | USA TODAY | 7 hours ago

President Trump is proposing a $4 trillion-plus budget that projects a $1 trillion or so federal deficit. AP's Economic Reporter Josh Boak says the plan is like a 'Christmas list, a wish list' that amounts amounts to a 'massive bet'. (Feb. 12)

AP

WASHINGTON – The national debt surpassed $22 trillion for the first time on Tuesday, a milestone that experts warned is further proof the country is on an unsustainable financial path that could jeopardize the economic security of every American.



The Treasury Department reported the debt hit $22.012 trillion, a jump of more than $30 billion in just this month.

The national debt has been rising at a faster rate following the passage of President Donald Trump’s $1.5 trillion tax-cut package a little more than a year ago and as the result of congressional efforts to increase spending on domestic and military programs. The nation has added more than $1 trillion in debt in the last 11 months alone.

“Reaching this unfortunate milestone so rapidly is the latest sign that our fiscal situation is not only unsustainable but accelerating,” said Michael A. Peterson, chief executive officer of the Peter G. Peterson Foundation, a nonpartisan organization working to address the country’s long-term fiscal challenges.



For Americans, the growing debt should be a concern, experts said, because over time it can push up interest rates for consumers and businesses. The higher rates can ripple through the economy, nudging up rates for mortgages, corporate bonds and other types of consumer and business loans.

More: In government shutdown aftermath, federal workers still hurting, survey finds

More: Can the middle-class revival under Trump last?

A big national debt can also make it harder for the government to increase spending to combat the next recession or devote more money to retraining workers and helping the poor, among other programs.

President Donald Trump is pictured during a White House meeting at the Roosevelt Room.

Brendan Smialowski, AFP/Getty Images

Peterson attributed the growing national debt to "a structural mismatch between spending and revenues." The biggest drivers are the aging population, high healthcare costs, and growing interest payments, combined with a tax code that fails to generate sufficient revenue, he said.

The debt eclipsing $22 trillion “is another sad reminder of the inexcusable tab our nation’s leaders continue to run up and will leave for the next generation,” said Judd Gregg and Edward Rendell, co-chairmen of the nonpartisan Campaign to Fix the Debt, a project of the nonpartisan Committee for a Responsible Federal Budget.



With deficits rising and gross debt scheduled to jump by more than $1 trillion annually, Congress must take action to put the country on a more sustainable path, Gregg and Rendell said.

“The fiscal recklessness over the past years has been shocking, with few willing to step up with a real plan,” they said. “We need responsible leadership to fix the debt, not a worsening of partisanship.”



Contributing: Paul Davidson

More: Will Trump tax cuts, spending hikes blow up deficit and doom economy?

More: The national debt and the federal deficit are skyrocketing. How it affects you





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President Trump speaks at rally in El Paso

Originally Published 11 hours ago

Updated 7 hours ago


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[Ang4MohTrump]

Every President and Congress kick the can down the road...Lol

Long ages already! Every Wars since Vietnam they borrow and print $$$$$$$$$$$$ KNN Bankrupted Beggar bastards!

 

[Ang4MohTrump]

https://www.cbsnews.com/news/us-national-debt-tops-22-trillion-for-first-time-in-history/



National debt tops $22 trillion for first time in U.S. history

By Kathryn Watson

Updated on: February 12, 2019 / 5:27 PM / CBS News







The U.S. national debt has topped $22 trillion for the first time in history, according to daily figures released by the Treasury Department on Tuesday.

The debt has ballooned by more than $2 trillion in the two years since President Trump took office in January 2017, when the debt stood at $19.9 trillion. It surpassed $21 trillion for the first time in history in March 2018. Under the Obama administration, the national debt grew from $10.6 trillion to $19.9 trillion, an increase that drew sharps criticism from Republicans.
In an interview with the Washington Post in 2016, Mr. Trump vowed to eliminate the national debt "over a period of eight years." Top White House economic adviser Larry Kudlow, who joined the White House after the president said he would eliminate the debt, told CBS News last month Mr. Trump probably didn't mean he would eliminate the debt entirely.

• Is fiscal conservatism dead?

"I don't know, you know, I wasn't there, I read about some of this — I think what he was really referring to was he would stop the upward rise as a burden on the economy," Kudlow said in January. "In other words, to me, the measure is not, what is the deficit or this or that. It's as a share of GDP. That's your burden on the economy. And I would argue that it is and will continue to come down as a burden on the economy."
But the ratio of debt-to-GDP has also increased, something that's unusual in a strong economy. In June 2018, the Congressional Budget Office said in a report that the level of debt as a share of GDP had reached its highest levels since World War II.
Michael Peterson, CEO of the Peter G. Peterson Foundation, a fiscal policy think tank, said Tuesday's milestone is only "the latest sign that our fiscal situation is not only unsustainable, but accelerating."
"Our growing national debt matters because it threatens the economic future of every American," Peterson said in a statement. "As we borrow trillion after trillion, interest costs will weigh on our economy and make it harder to fund important investments for our future ... In order to build the strong and stable future that we want for America, we must put our fiscal house in order and begin to manage our national debt."
First published on February 12, 2019

© 2019 CBS Interactive Inc. All Rights Reserved.

Kathryn Watson

Kathryn Watson is a politics reporter for CBS News Digital.




https://www.bloomberg.com/news/arti...onal-debt-soars-to-a-record-22-trillion-chart

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U.S. National Debt Soars to a Record $22 Trillion: Chart
By
Sophie Caronello
and
Brendan Murray

February 13, 2019, 5:33 AM GMT+8

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The U.S.’s financial burden is growing despite a strong economy. Total public debt climbed to more than $22 trillion as of Feb. 11, according to a Treasury Department report Tuesday. The country’s obligations are mounting as President Donald Trump debates members of Congress over funds for a wall along the southern border and fiscal experts including former Federal Reserve Chair Alan Greenspan warn about the dangers of rising budget deficits.

 

[Ang4MohTrump]

http://www.themarketdigest.org/econ...t-tops-22-trillion-for-the-first-time-158774/

https://www.marketwatch.com/story/u...or-the-first-time-2019-02-12?siteid=rss&rss=1


U.S. national debt tops $22 trillion for the first time



Published: Feb 12, 2019 5:00 p.m. ET











U.S. financial picture getting worse in wake of Trump tax cuts



By
JeffryBartash

Reporter

AFP/Getty Images
Uncle Sam, aka the United States, is racking up a lot of debt. The national debt just topped $22 trillion for the first time.
The U.S. national debt topped a record $22 trillion this week, less than a year after it crossed the $21 trillion mark, indicating a further deterioration in the nation’s finances.

The Peterson Foundation said the U.S. national debt has risen by $1 trillion in the past 11 months, calling it “the latest sign that our fiscal situation is not only unsustainable, but accelerating.”

The foundation drew its estimate from the Treasury Department’s daily statement on the government financial assets and liabilities. The group has long called for reducing the national debt to ensure the nation’s long-term financial health.

Read: The rise of the robots and decline of inflation: How AI is keeping prices low

“We already pay an average of $1 billion every day in interest on the debt, and will spend a staggering $7 trillion in interest costs over the next decade,” asserted Michael Peterson, CEO of the foundation. “In order to build the strong and stable future that we want for America, we must put our fiscal house in order and begin to manage our national debt.”

Read: Inflation? What inflation? Falling price pressures clear runway for economy in 2019


Economists agree the U.S. will suffer in the long run if the government fails to rein in the debt, but that day may still be a long way off.

The standard method of judging a nation’s fiscal health is to look at the level of debt relative to GDP — or the size of the economy. The ratio of publicly held debt-to-GDP is seen rising from about 78% in 2019 to 106% by 2029 and to as high as 193% by 2049 under current tax and spending policies, the Brookings Institution calculates in a new report.

While the interest payments on such a large debt would siphon off a lots of money the government could use for other things, it’s by no means clear how much the economy would suffer.

Japan has run huge debt-to-GDP ratios for years and it still has one of the strongest economies in the world. The country’s debt is around 236% of GDP.

The U.S. national debt soared in the aftermath of the 2007-2009 recession, accelerated again after the Trump tax cuts in 2017 and an increase in federal spending.

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Jeffry Bartash







https://www.independent.co.uk/news/...ury-congressional-budget-office-a8710546.html



US national debt has increased $2 trillion since Donald Trump took office, new data shows

President reportedly not concerned because 'I won't be there'

• Andrew Buncombe Seattle @AndrewBuncombe
• Friday 4 January 2019 01:49
• 42.2Kshares
• 49 comments

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The Independent US

The US national debt has increased by more than $2 trillion dollars since Donald Trump entered the White House, according to new data.

Figures released by the Treasury Department showed the debt stood at $21.974 trillion at the end of 2018, more than $2 trillion higher than when Mr Trump took office.



The debt stood represented 78 per cent of the US’s gross domestic product (GDP) in the fiscal year 2018, the highest percentage since 1950, analysis by CNN concluded.





The deficit, which measures the difference between what the government spends and what it collects, rose to 3.8 per cent of GDP in 2018, up from 3.5 per cent in 2017.



The national debt has been rising in the aftermath of the 2008 financial crisis, when Congress and Barack Obama approved stimulus funding in order to keep the economy afloat.

When Mr Trump first took office, having vowed to reduce it to zero in eight years it, it began to go down.



But analysts say it started to increase again as a result of a Republican tax cut, passed at the end of 2017, that a represented the largest of its kind in a generation.

According to the Congressional Budget Office, debt could grow to 96 per cent of GDP (or $29 trillion) by 2028.



“Three decades from now, for instance, debt held by the public is projected to be about twice as high in relation to GDP as it is this year—which would be a higher ratio than the United States has ever recorded,” it said in a new report.

Support free-thinking journalism and subscribe to Independent Minds


US national debt has increased $2 trillion since Donald Trump took office, new data shows

President reportedly not concerned because 'I won't be there'

• Andrew Buncombe Seattle @AndrewBuncombe
• Friday 4 January 2019 01:49
• 42.2Kshares
• 49 comments

Click to follow
The Independent US

The US national debt has increased by more than $2 trillion dollars since Donald Trump entered the White House, according to new data.

Figures released by the Treasury Department showed the debt stood at $21.974 trillion at the end of 2018, more than $2 trillion higher than when Mr Trump took office.



The debt stood represented 78 per cent of the US’s gross domestic product (GDP) in the fiscal year 2018, the highest percentage since 1950, analysis by CNN concluded.





The deficit, which measures the difference between what the government spends and what it collects, rose to 3.8 per cent of GDP in 2018, up from 3.5 per cent in 2017.



The national debt has been rising in the aftermath of the 2008 financial crisis, when Congress and Barack Obama approved stimulus funding in order to keep the economy afloat.

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To address the debt, Mr Trump in October announced an initiative to cut spending by five per cent across the various departments of his cabinet.

However, last year the Daily Beast website reported the president had privately expressed little concern about the numbers because “I won’t be here”.

 

[Ang4MohTrump]

 

[Ang4MohTrump]

The ACTUAL DEBT is actually 10X MORE and only USA is CHEATING THE WORLD using DIRTY TRICKS! FUCKING BASTARDS = MUST DIE!




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