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Thursday, November 05, 2015

National debt sees one-day record increase after debt limit suspended

http://www.usatoday.com/story/news/politics/2015/11/04/national-debt-sets-one-day-record-after-debt-limit-suspension-becomes-law/75173708/

The U.S. national debt shot up $339.1 billion Tuesday — the largest daily increase in the national debt in history, according to Treasury Department data.
The increase is largely a matter of accounting, in that the Treasury Department had been using "extraordinary measures" to artificially hold the total U.S. debt under the debt limit imposed by Congress. So on paper, the national debt had been frozen at $18.1 trillion since March, as the Treasury instead deferred payments to pension funds and borrowed from reserve accounts in order to keep the government running.
But once President Obama signed a suspension of the debt limit into law on Monday, the Treasury Department was able to borrow new money for spending Congress had already authorized — averting a potential debt crisis as its accounting measures began to run out.

Everything is a crises with these people..Fear keeps us distracted or so they think it does.


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