National debt hits $19 trillion
Washington Examiner
February 2, 2016
The national debt hit $19 trillion for the first time ever on Friday, and came in at $19.012 trillion.
It took a little more than 13 months for the debt to climb by $1 trillion. The national debt hit $18 trillion on Dec. 15, 2014.
That’s a slightly stepped-up pace compared to the last few $1 trillion mileposts. It took about 14 months for the debt to climb from $17 trillion to $18 trillion, and about the same amount of time to go from $16 trillion to $17 trillion.
The federal government has been free to borrow as much as needed for the last several years. Years ago, Congress passed legislation to increase the debt ceiling to a certain level of debt, and borrowing had to stop once that limit was hit.
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