U.S. marks 3rd-largest, single-day debt increase

$166 billion jump spurs concerns over policy

The nation's debt leapt $166 billion in a single day last week, the third-largest increase in U.S. history, and it comes at a time when Congress is balking over higher spending and debt has become a key policy battleground.

The one-day increase for June 30 totaled $165,931,038,264.30 - bigger than the entire annual deficit for fiscal year 2007 and larger than the $140 billion in savings the new health care bill will produce over its first 10 years. The figure works out to nearly $1,500 for every U.S. household, or more than 10 times the median daily household income.

Daily debt calculations jump and fall, and big shifts are common. But all three of the biggest one-day debt increases have occurred under the tenure of President Obama, and all of the top six have been in the past two years - an indication of just how quickly the pace of deficit spending has risen under Mr. Obama and President George W. Bush.

Click to expand...

Phoenix said:

From the Washington Times:



It takes $166 Billion in ONE DAY to spark concern over policy? People should have been concerned long before now.
The numbers that represent spending in this country are astounding.

I guess we know what the shovel is for in "Shovel ready projects":mrgreen:

Click to expand...