Washington is already $300B over US debt limit
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by John Crudele,
Congratulations, fellow taxpayers, the US is now more than $17 trillion in debt!
The number climbed by more than $300 billion on Thursday night the second President Obama signed into law the bipartisan government financing and debt ceiling increase legislation.
The White House used “extraordinary measures” to get around the limit.
My research found that Washington had already overspent by $16.964 trillion and that our leaders got away with going over the limit by taking money from a slush account called the Exchange Stabilization Fund and various government pension funds. There was more than $200 billion in these unusual borrowings as of Thursday.
The US Treasury came clean on this Friday when it acknowledged the $300 billion-plus added debt on its website.
According to USDebtClock.org, the amount of debt adds up to $53,715 per US citizen. If you count only those of us who pay taxes, the amount per capita triples to $148,629.
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