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$166 billion jump spurs concerns over policy.
The nation's debt leapt $166 billion in a single day last week, the third-largest increase in U.S. history, and it comes at a time when Congress is balking over higher spending and debt has become a key policy battleground.
The one-day increase for June 30 totaled $165,931,038,264.30 - bigger than the entire annual deficit for fiscal year 2007 and larger than the $140 billion in savings the new health care bill will produce over its first 10 years. The figure works out to nearly $1,500 for every U.S. household, or more than 10 times the median
Originally posted by PurpleDog UK
One day soon, everyone will suddenly WAKE UP and realize that America, the reserve currency nation is BROKE........ we all know that but the SHEEPLE are having a tough time grasping the concept.....
$166 Billion in one day is an awful lot,...??? is that really accurate or correct ??
Originally posted by BuffaloJoe
Well, through the end of May 2010, the US had managed to spend $42,000 per second that they didn't have. Glad to see they're working hard on that issue.
Can you even print money that fast?
Daily debt calculations jump and fall, and big shifts are common. But all three of the biggest one-day debt increases have occurred under the tenure of President Obama, and all of the top six have been in the past two years - an indication of just how quickly the pace of deficit spending has risen under Mr. Obama and President George W. Bush.
Originally posted by ~Lucidity
reply to post by kozmo
You do realize the enormity of the debt and deficit accumulated in the 8 years prior and carried over, right?