The total debt surpassed $22 trillion for the first time ever in February — $2 trillion higher than when Trump took office. With a record deficit and $15 trillion in debt, @BarackObama is spending $4 million of our money on his Hawaii vacation. The massive shortfall is being attributed to a 20 percent drop in corporate revenue and increased federal spending. The budget gap was $234 billion in February alone, which surpassed the earlier monthly record of $231.7 billion seven years ago, according to an analysis of data by Bloomberg. Federal Reserve Chairman Jerome Powell warned Congress last month that the federal debt matters — it’s growing faster than the gross domestic product —and the nation must address the issue.

Source: Huffington Post March 24, 2019 03:00 UTC