The U. S. Government’s massive one-day debt increase had a profound impact on the amount of money it will have to fork over just to service its interest payment. On Friday, Sept 9th, the U. S. Treasury increased the total debt by a stunning $318 billion. Thus, the total U. S. Government debt increased from $19.84 trillion on Thursday to $20.16 trillion on Friday.
We must remember when the U. S Treasury adds more debt to its balance sheet; the government is now obligated to pay additional funds to service the interest on that debt. So, for each increase in U. S. Government debt, comes with it, an increase in its debt service payment.
This post was published at SRSrocco Report on SEPTEMBER 12, 2017.