US
Debt Soars By $100 Billion On Last Day Of 2014, Hits Record $18.14
Trillion
1
January, 2015
It
seems like it was only yesterday when
we reported that,
in yet another sleight of hand for the US Treasury and Social
Security Administration, US debt rose by $32 billion on the last day
of November sending total US debt above $18 trillion for the first
time ever. As we further noted, it also meant "that total
US debt has increased by 70% under Obama, from $10.625 trillion on
January 21, 2009 to $18.005 trillion most recently."
Fast
forward to today when we are happy to report that according to the US
Treasury, America's debt-funded spending spree, while supposedly
slowing down if looking at the declining monthly budget deficit
report, never actually has.
As
of the last day of 2014, total US debt soared by $98 billion in one
day (driven again by Social Security debt surging on the last day of
the month to a record $5.117 trillion), and closing off 2014 with a
new all time high total of $18.141 trillion in Federal debt -
an increase of $136 billion in the month of December and$790
billion for all of 2014.
Source: US
Treasury
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