A Limerick on Thanksgiving Day leftovers: A 24 Billion dollar increase in Federal Debt.
The U.S. Treasury increased the net debt of the United States $24,327,048,384.38 on the day after Thanksgiving, which equals $211.69 for each of the nation’s 114,916,000 households. (CNSNEWS)
In August 2011, the debt ceiling — the amount of money the federal government is allowed to borrow — was raised by $2.4 trillion, to $16.394 trillion. According to the National Debt Clock, as of Nov. 23, the total debt was nearing the limit, at $16.3 trillion. You also could think of it as about $51,000 per person in the US.
A decadent town on Potomac,
where cronyism fills up its stomach.
It is borrow and spend,
print more money to lend.
Our government has run amok.