On September 30th, A.D. 2016, the U.S. government closed out the 2016 fiscal year with an “official” National Debt of $19,573,444,713,936.79.
Makes me laugh.
Government can calculate the U.S. National Debt to the penny. How responsible!
And yet, government has no idea what happened to $6.5 trillion that was given to the Pentagon and subsequently disappeared.
In any case, the National Debt grew by $1,422,827,047,452.46 ($1.4 trillion) in fiscal 2016. That averaged out to over $100 billion in deficit spending per month.
That annual deficit spending increase has been a de facto $12,000 subsidy for every American household.
The fiscal 2016 deficit spending (debt) amounts to roughly 7.5% of the entire US economy. Without that 7.5% in debt-based “stimulation,” where do you suppose the economy would be right now?