Federal debt explodes by $1 trillion in five weeks since deal suspending limit became law

Fox News ^ | July 10, 2023 | Peter Kasperowicz

[McGruff]

The U.S. national debt has increased by $1 trillion in the five weeks since President Biden signed a bill into law that effectively turns off the debt ceiling until 2025.

According to Treasury Department data, the total national debt stood at $32.47 trillion on July 6, $1 trillion more than the $31.47 trillion level last seen on June 2. The national debt had been stuck at or near that June 2 level for months because the government had hit the debt ceiling and was legally prohibited from borrowing any more money.

On June 3, however, Biden signed legislation reflecting negotiations with House Republicans that requires a small spending cut next year and allows unlimited federal borrowing until 2025. With no debt ceiling in effect, federal borrowing jumped more than $350 billion in a single day and crossed the $32 trillion mark in less than two weeks.

[Ken522]

As foretold, the US Treasury is printing money to infinity!

[jacknhoo]

Kevin McCarthy should be impeached.

[AndyJackson]

Shocked, I am not.

[PGR88]

Our Founding Fathers never intended “money” to be anything other than gold and silver

We now have “money” as just another political tool - manufactured at will by those in government to further their ideology, their own interests and those of their cronies.

[Right_Wing_Madman]

the US Treasury is printing money to infinity!

The Federal Reserve Bank prints money, not the US Treasury.

[hanamizu]

Kevin McCarthy should be impeached.

---

Representatives and Senators cannot be impeached. They can be removed by two-thirds vote of their house, resign, die or be rejected by their voters.

But this story cannot be true. /s

Just the other day, FJB leaned in and whispered, “I lowered the deficit by 1 1/2 trillion dollars”, to wild applause by his thrilled audience.

[cuz1961]

Federal debt explodes by $1 trillion in five weeks since deal suspending limit became law

/\

..and that’s just the cocaine bill,,,

,, the kiddie sex slave bill will probably be double that

/s

[Worldtraveler once upon a time]

--- "...the total national debt stood at $32.47 trillion on July 6, $1 trillion more than the $31.47 trillion level last seen on June 2."

We are a Ponzi scheme, set for collapse. The only remaining question is -- when?

[MileHi]

Thanks, Kevin.

[M Kehoe]

In the fwiw department, I wish I could print money too.

5.56mm

[JSM_Liberty]

They were fiddling with the numbers before the deal. This is just the debt figure getting back to a more accurate number.

[wrench]

The Federal Reserve Bank actually buys the currency from the US Gov’t for 1 dollar a bill (does not matter the denomination).

They are federal reserve notes, not money.

I have actually seen the printing presses in action, but they do not offer samples.

[FlingWingFlyer]

Wait until the far-left turd rollers pass their Make Every African Kawanda a Multi Millionaire bill. Americans are going to be screwed royally.

[griffin]

Oh, they are just STARTING. FREE MONEY!!! CHEAP VOTES!!!

Fecking idiots.

[Varsity Flight]

Unaffordable house

Unaffordable vehicle

Unaffordable rent

.....Young folks... = Bicycles

Congress living pretty, untouched.

[griswold3]

They will have to print reparations on 1,000,000 bills like Zimbabwe.

[dartuser]

a small spending cut next year and allows unlimited federal borrowing until 2025 ...

I didn't know that was part of the deal ...

I guess that's why it's called the Uniparty.

[Diana in Wisconsin]

Another good reason, among MANY these days, to keep your gun safe filled to capacity, your mattress stuffed with some paper cash and junk silver, and have your own financial house in order!

Pay off ALL your debt ASAP of you aren’t already concentrating on doing so. Sharpen up your Prepper skills, too!

Yeah, none of this will matter if we’re in for the Socialist Democrat BEATING they so dearly want to inflict upon us, but it helps your own peace of mind! ;)

[Chode]