To: i-node who wrote (70549 ) 5/8/2018 2:55:51 PM From: bentway 1 RecommendationRecommended By
Read Replies (2) | Respond to Under Trump's watch, national debt tops $21 trillion for first time ever cbsnews.com About a year ago, President Trump pledged to eliminate the national debt " over a period of eight years ." But for the first time in history, the national debt surpassed $21 trillion this week, according to the U.S. Treasury. The landmark comes shortly after Congress passed, and Mr. Trump signed, a suspension on the federal debt limit last month, allowing the government to borrow an unlimited amount of money until March 1, 2019.U.S. Treasury data . Since then, the GOP-led Congress has passed a $1.5 trillion tax cut bill and a two-year spending deal which, together, are expected to drive the deficit and debt further upward. The Committee for a Responsible Federal Budget estimates annual deficits could top $2.1 trillion per year in the next decade, which would send the national debt soaring even higher.Is fiscal conservatism dead? under the Obama administration , when it jumped from $10.6 trillion to $19.9 trillion, nearly doubling, but few have been as outspoken about the situation with Republicans controlling Capitol Hill and the White House. Sen. Rand Paul, R-Kentucky, held up the spending bill last month on the Senate floor, blistering Republicans for doing exactly what they had criticized the Obama administration for doing."I ran for office because I was critical of President Obama's trillion-dollar deficits," Paul said at the time. "Now we have Republicans hand-in-hand with Democrats offering us trillion-dollar deficits." Sen. Bob Corker, R-Tennessee, called the national debt the "greatest threat to our nation" when it exceeded $20 trillion for the first time in September.open to eliminating the debt ceiling entirely .
