gold, page-56507

US Gross National Debt Jumps by $1.2 Trillion in Fiscal 2019, to $22.7 Trillion, Hits 106.5% of GDP

But what happens if there’s actually a recession?The US gross national debt jumped by $110 billion on the last two business days of Fiscal Year 2019, and by a breath-taking $1.2 trillion during the entire fiscal year, after having already jumped by $1.27 trillion in Fiscal 2018, the Treasury Department reported today.

This ballooned the US gross national debt to a vertigo-inducing $22.72 trillion.These beautiful trillions whipping by are a joy to behold: so much action in so little time. The flat spots in the chart below are the results of the debt-ceiling charade in Congress. When the debt ceiling is lifted, the debt spikes back to trend, and nothing changed:

https://wolfstreet.com/2019/10/01/us-gross-national-debt-jumps-by-1-2-trillion-in-fiscal-2019-to-22-7-trillion-106-5-of-gdp/