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U.S. debt jumps a record $328 billion — tops $17 trillion for first time

Posted By admin On October 19, 2013 @ 6:55 am In Money Watch | Comments Disabled

Stephen Dinan
Washington Times [1]
October 19, 2013

U.S. debt jumped a record $328 billion on Thursday, the first day the federal government was able to borrow money under the deal President Obama and Congress sealed this week.

The debt now equals $17.075 trillion, according to figures the Treasury Department posted online on Friday.

The $328 billion increase shattered the previous high of $238 billion set two years ago.

The giant jump comes because the government was replenishing its stock of “extraordinary measures” — the federal funds it borrowed from over the last five months as it tried to avoid bumping into the debt ceiling.

Full article here [1]

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[1] Washington Times: http://www.washingtontimes.com/news/2013/oct/18/us-debt-jumps-400-billion-tops-17-trillion-first-t/

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