02/10/18

US Gross National Debt Soars $1.27 Trillion In Fiscal 2018, Hits $21.5 Trillion



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US Gross National Debt Soars $1.27 Trillion In Fiscal 2018, Hits $21.5 Trillion
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Authored by Wolf Richter via WolfStreet.com,

But wait — these are the Boom Times!

The US gross national debt jumped by $84 billion on September 28, the last business day of fiscal year 2018, the Treasury Department reported Monday afternoon. During the entire fiscal year 2018, the gross national debt ballooned by $1.271 trillion to a breath-taking height of $21.52 trillion.

Just six months ago, on March 16, it had pierced the $21-trillion mark. At the end of September 2017, it was still $20.2 trillion. The flat spots in the chart below, followed by the vertical spikes, are the results of the debt-ceiling grandstanding in Congress:

These trillions are whizzing by so fast they're hard to see. What was that, we asked? Where did that go?

Over the fiscal year, the gross ....

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