February 5, 2016

Total U.S. Debt Surpasses $19 Trillion; Rises $8.4 Trillion Under President Obama

Two months ago, when we calculated that the US would need a new "debt ceiling" of $19.6 trillion to last until after Obama's tenure, we may have been too optimistic: since the increase in the hard debt limit of $18.15 trillion which was raised at the end of October, the US appears to be growing its debt at a far faster pace than we had originally expected, and according to the latest public debt data, as of the last day of January, total US debt just hit 19,012,827,698,417.93.

This means that if the nominal US GDP as of December 31 which was $18.12 trillion grows... Read more.

ZeroHedge

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