Wednesday, February 3, 2016

Federal debt hits $19 trillion; new record set

Federal debt hits $19 trillion; new record set


The federal government is now officially $19 trillion in debt, according to the latest figures released by the Treasury Department Monday that show the Obama administration crossed that ignominious line late last week.

President Obama took office with the debt at $10.6 trillion, and has added more than $8 trillion during his seven years in the White House — a record pace that the Congressional Budget Office says is likely to continue.