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A Belated Holiday Gift to Americans - U.S. Debt Just Hit $34 Trillion
It was September 21st when we wrote that America's debt level had hit $33 trillion.
So, in approximately 3 months the U.S. government has added $1 trillion to its debt load. For a whopping $34 trillion and growing.
That's dangerous stuff right there.
And to think, we have politicians saying they've reduced the deficit (the amount the government spends over and above what it brings in each year). There's a term for politicians making that claim. Liar.
It's actually a little surprising that our debt is growing so significantly, so quickly.
But, as mentioned before, a large reason for this exponential growth has to do with the increased interest rates that must be paid on America's debt each and every time a new issuance is released. And that isn't likely to change any time soon.
So, we'll likely be back in the next few months with a report that America's debt has hit its next high watermark. Unfortunately, it's nothing to celebrate. And for those who understand the ramifications of carrying this extraordinary amount of debt, it's a harbinger of bad times ahead.