Federal Reserve Chairman Janet Yellen, referencing the Congressional Budget Office's long-term budget projections, told the Joint Economic Committee of Congress today that under current policies the federal government’s deficits “will rise to unsustainable levels.”
(Worthy News) - In the six months that have passed since then-retiring House Speaker John Boehner and Senate Majority Leader Mitch McConnell cut a budget deal with President Barack Obama that suspended the legal limit on the federal debt until March 15, 2017, the federal debt has increased by more than $1 trillion.
The Senate passed “The Bipartisan Budget Act of 2015” with a vote held in the early morning hours of Friday, Oct. 30. Obama signed it on Monday, Nov. 2.
At the close business on Oct. 30, 2015, the total federal debt was $18,152,981,685,747.52. By the close of business on April 28, 2016—the latest date for which the Treasury has published the number--the total federal debt was $19,186,207,744,589.55.
That is an increase of $1,033,226,058,842.03. [ ... Read More (Source) ]
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