The US national debt is already grown by $1 trillion in a month (lemmy.ml)

submitted 2 years ago by [email protected] to c/[email protected]

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https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-penny

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[-] [email protected] 10 points 2 years ago

Seems like a totally sustainable situation.

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[-] [email protected] 6 points 2 years ago

You realize the debt ceiling is about paying old debt, not incurring new debt, yes?

https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/debt-limit

"The debt limit does not authorize new spending commitments. It simply allows the government to finance existing legal obligations that Congresses and presidents of both parties have made in the past."

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this post was submitted on 11 Jul 2023

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