Record deficits as national debt tops $26TRILLION!
Recorded at a time of near record unemployment that’s averted at the witching hour. Record stock market recovery.
Record stimulus spending.
Record, or at least very near record social division and discord.
Record contempt for anyone with a differing opinion.
Record name calling.
The national debt rose above $26 trillion for the first time this week, as the U.S. government spends at a historic pace while pumping trillions into coronavirus relief.
The debt has been climbing upward at a startling pace. According to data released by the Treasury Department, the national debt hit $24 trillion on April 7 and $25 trillion on May 5.
Meanwhile, the government recorded a budget deficit of $1.88 trillion for the first eight months of this budget year, larger than any annual shortfalls in U.S. history. The deficit for the October-May period was more than double the $738.6 billion for the same period last year, according to Treasury Department numbers released Wednesday.