National Debt Exceeds $20 Trillion

Sep 12, 2017

The U.S. national debt exceeded a record $20 billion on Monday.

The national debt is the cumulation of all yearly deficits and surpluses that the government has run up.

Due to accounting tricks and extreme measures, the Treasury actually lowered the national debt by $100 billion since the beginning of the Trump administration.

After last Thursday’s agreement to suspend the debt ceiling, the U.S. Treasury issued $317 billion in additional debt. Some of the money will go towards the victims of the hurricanes.

The Office of Management and Budge estimates that the deficit for 2017 will be $100 billion higher than originally thought. The deficit is projected to be $702 billion for 2017.