Horrible numerical news out of DC. The national debt just hit $21 Trillion.
The national debt exceeded $21 trillion for the first time on Thursday, a little more than six months after it hit first $20 trillion on Sept. 8.
The national debt was $21.031 trillion on Thursday. The government releases total debt figures each business day, but it lags by one day.
Federal borrowing has been on the rise again since February, when Congress passed legislation to suspend the debt ceiling. That move allowed the government to borrow as much as it needs to fund the activities approved by Congress.
I was shocked too. And VERY disappointed. At this rate, the debt bomb will only reach $34 Trillion or so by 2024, far short of my forecast of $40 Trillion. Pathetic. We need a war or a new entitlement or something. And soon. Let’s us try to think of something easy that we can communicate to Congress – slowly and with pictures, of course. Remember, every Trillion printed means Trillions more at the disposal of the Banksters. We need to make them happier.
How about a war to make the world safe for social security? We could start bombing Brazil in an hour or two. That would beat thinking about our own ticking bomb.