U.S. Debt Jumped $72 Billion Same Day U.S. House Voted to Cut Spending $6 Billion

National Debt Clock/Wiki Commons image

Terrence P. Jeffrey
CNS News

The national debt jumped by $72 billion on Tuesday even as the Republican-led U.S. House of Representatives passed a continuing resolution to fund the government for just three weeks that will cut $6 billion from government spending.

If Congress were to cut $6 billion every three weeks for the next 36 weeks, it would manage to save between now and late November as much money as the Treasury added to the nation’s net debt during just the business hours of Tuesday, March 15.

At the close of business on Monday, according to the Treasury Department’s Bureau of the Public Debt, the total national debt stood at $14.166 trillion ($14,166,030,787,779.80). At the close of business Tuesday, the debt stood at $14.237 trillion ($14,237,952,276,898.69), an increase of $71.9 billion ($71,921,489,118.89).

Read Full Article

RELATED:
Collapse Coming: Budget Cuts Will Only Speed It Up

Enter your email address to subscribe to our newsletter:


Delivered by FeedBurner