The latest data from the US Treasury Department shows America’s gross national debt ballooned by $1.2 trillion to a breathtaking $21.52 trillion on September 28, the last day of fiscal year 2018.
During that period, the US national debt increased by 6.3 percent and now amounts to 105.4 percent of the country’s current-dollar Gross Domestic Product (GDP).
According to the Treasury Department’s Bureau of the Fiscal Service, the national debt at the end of fiscal year 2017 was an estimated $20.25 trillion. The large deficit is a result of federal benefit payments pushed into August instead of September, the service said.
READ MORE: https://prepareforchange.net/2018/10/03/soaring-by-38000-per-second-us-national-debt-now-exceeds-21-5-trillion/US Gross National Debt Soars $1.27 Trillion In Fiscal 2018, Hits $21.5 Trillion https://t.co/vvoWTmnNDK pic.twitter.com/zVhLATj3Ou— Confluence Intel (@ConfluenceIntel) October 2, 2018