WASHINGTON – The link>link> link>US link> , the world’s leading debtornation, has reached another questionable milestone in its seeminglyheadlong rush into economic oblivion.
The combined debt of the United States has topped $21 trillion for thefirst time, according to government statistics, following an announcement amere six months ago that the debt had hit $20 trillion for the first time.
link> link>link>USlink> President Donald Trump in Februarysigned a letter to end the suspension of debt-limits, which now permitsunlimited borrowing until March 1, 2019, according to Marketwatch.com.
While a much wider link>link> link>US link> budget deficit is predicted byeconomists following the new December 2017 Trump tax cut, the rapid pace oflarge-scale borrowing has surprised many, as Washington’s February $215billion deficit is up 12 percent from the same month last year.
The unprecedented debt figure is only the beginning, claimed PeterPeterson, an investment banker and former United States Secretary ofCommerce under link>link> link>US link> President Richard Nixon.
‘Our national debt reached a staggering $21 trillion today, having grown by$1 trillion in just the past six months,’ Peterson noted, according to theWashington Examiner.