Debt Jumped a Third of a $Trillion When Limit is Extended

The same day the debt ceiling was raised the debt jumped by a staggering amount.

Here is President Obama talking how great it is that Republicans increased spending and funded the government for two years.

Now here is the reality, reported by the Washington Examiner: “Debt ceiling lifted, and the same day, debt jumps $339B.”

The U.S. national debt jumped $339 billion on Monday, the same day President Obama signed into law legislation suspending the debt ceiling.

That legislation allowed the government to borrow as much as it wants above the $18.1 trillion debt ceiling that had been in place.

The website that reports the exact tally of the debt said the U.S. government owed $18.153 trillion last Friday, and said that number surged to $18.492 on Monday.

The increase reflects an increasingly common pattern that can be seen in the total U.S. debt level when the debt ceiling is reached.

The story goes on to recite how this has been done before but not with so much money.

This time around, the national debt has been frozen at its ceiling of about $18.1 trillion since late January, longer than nine months. The Bipartisan Policy Center estimated that the government had somewhere around $370 billion worth of extraordinary measures to use this time around.

This highlights how much the Republicans have failed us by enabling this spending spree instead of stopping it. They are adopting an attitude that debt levels don’t matter.