US debt hits record under Trump, Republicans mum 5 SHARES Share it! Share TweetBy Agence France-PresseMore massive than the US economy, the national debt hit a new record of $22 trillion under President Donald Trump but Republicans who traditionally rail against debt and deficits have remained mum. “If we don’t have a strong military, you don’t have to worry about debt, you have bigger problems,” Trump told reporters last week. Republican deficit hawks quietBut despite faster growth, the budget deficit climbed 17 percent to $779 billion last year, the worst since 2012. The Fed calls this “a macroeconomic risk.”And household debt now stands at $13.5 trillion, well above the previous peak before the crisis.

Source: Manila Bulletin February 20, 2019 02:03 UTC