Biden vs. Reality: The U.S. National Debt Is Rising By $1 Trillion About Every 100 Days

Another fine Saturday brings with it a "shot & chaser" story and ushers in the beginning of March with a reminder that the federal government continues wild spending that's keeping the country headed at high speed toward the cliff of bankruptcy. Before the chaser, though, remember all the promises about Biden's "Build Back Better" agenda adding zero dollars to the national debt? -- President Biden @POTUS: “My Build Back Better Agenda costs zero dollars. Instead of wasting money on tax breaks, loopholes, and tax evasion for big corporations and the wealthy, we can make a once-in-a-generation investment in working America. And it adds zero dollars to the national debt.” -- On top of that, we had claims from President Biden last summer about how much he cut the federal debt: -- Biden: "I'm the first one to cut the federal debt by $1,700,000,000,000!"Show more

At least Biden, the Democrats and many Republicans are focusing on what's most important: Trying to send a lot more money to Ukraine. The U.S. national debt is rising by $1 trillion about every 100 days. Yikes. Rand Paul @RandPaul: “Washington's addiction to spending is hurting our economy and currency. It has to stop.” -- It doesn't appear there are nearly enough politicians (or voters for that matter) who care to stop it. -- Jon Gabriel @exjon: https://twitter.com/i/status/1763968346507374685 -- "This is fine" indeed: The debt load of the U.S. is growing at a quicker clip in recent months, increasing about $1 trillion nearly every 100 days.

The nation’s debt permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury. It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace. Before that, the $1 trillion move higher from $31 trillion took about eight months. U.S. debt, which is the amount of money the federal government borrows to cover operating expenses, now stands at nearly $34.4 billion, as of Wednesday. Bank of America investment strategist Michael Hartnett believes the 100-day pattern will remain intact with the move from $34 trillion to $35 trillion. -- What could possibly go wrong?

• More at: Twitchy - Here's a 'Biden vs. Reality' Double Shot and Chaser About the Debt
https://twitchy.com/dougp/2024/03/02/heres-a-biden-vs-reality-shot-and-chaser-about-the-national-debt-n2393529
CNBC: The U.S. national debt is rising by $1 trillion about every 100 days
https://www.cnbc.com/2024/03/01/the-us-national-debt-is-rising-by-1-trillion-about-every-100-days.html