A Foolish Take: How Big Is the National Debt Now?
For ordinary Americans, deficit spending just isn't an option, and getting yourself into huge amounts of debt is a recipe for financial disaster. However, the U.S. government has had no qualms about continually spending more than it brings in, and regardless of whether Republicans or Democrats have controlled the White House and Congress, the trend for the national debt has been unquestionably on the upswing.
The Treasury Department recently reported its latest information on the size of the public debt. As of the end of the government's 2019 fiscal year, which ended on Sept. 30, the total amount that the U.S. government had borrowed rose to $22.687 trillion. That was up by roughly $1.17 trillion from the end of fiscal 2018, marking the second straight year that the national debt had risen by more than $1 trillion.
Data source: U.S. Treasury. Chart by author.
Source Fool.com
