Federal spending out of control. What’s new?
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Publication By PETE KASPEROWICZ | Washington Examiner:
The national debt hit $19 trillion for the first time ever on Friday, and came in at $19.012 trillion. It took a little more than 13 months for the debt to climb by $1 trillion. The national debt hit $18 trillion on Dec. 15, 2014.
That’s a slightly stepped-up pace compared to the last few $1 trillion mileposts. It took about 14 months for the debt to climb from $17 trillion to $18 trillion, and about the same amount of time to go from $16 trillion to $17 trillion.
Under current law, the debt ceiling is suspended until March, 2017, meaning the government can borrow without limit until then. Obama is expected to leave office with a total national debt of nearly $20 trillion by the time he leaves office.
See full story here: http://www.washingtonexaminer.com/national-debt-hits-19-trillion/article/2582097
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