The United States has now officially accumulated a $20 trillion debt. The ceiling was broken after the White House allowed the Treasury to borrow more money. As of Tuesday, the American national debt stood at $20.16 trillion, according to the US Debt Clock website. This is almost $62,000 per person and over $167,000 per tax payer.
The debt number had been stagnant since March due to the debt ceiling, as the US Treasury faced a temporary ban on further borrowing. On Friday, President Donald Trump signed a law to suspend the debt ceiling until December 8. The Treasury can now borrow freely till that date. Since Trump’s inauguration, the debt has increased about $215 billion from around $19.94 trillion. READ MORE
