While Americans were sleeping, the US debt jumped a record $328 billion in one day on Thursday and now is over $17 trillion. The jump was not a result of new spending, but instead because the government was replenishing its stock of “extraordinary measures”.
U.S. debt jumped a record $328 billion on Thursday, the first day the federal government was able to borrow money under the deal President Obama and Congress sealed this week.
The debt now equals $17.075 trillion, according to figures the Treasury Department posted online on Friday.
The $328 billion increase shattered the previous high of $238 billion set two years ago.
The giant jump comes because the government was replenishing its stock of “extraordinary measures” — the federal funds it borrowed from over the last five months as it tried to avoid bumping into the debt ceiling.
The PJ Tatler could not have stated it any better when it comes to the games that only the government is allowed to play.
This robbing Peter to pay Paul nonsense should be banned — especially since neither Peter or Paul have any extra cash anyway. If the feds were a private business, they would have been arrested, tried, and convicted for cooking the books long ago.