Peter G. Peterson Foundation CEO Comments On Federal Debt Passing $20 Trillion For First Time
The U.S. federal government's gross debt surpassed $20 trillion on Friday, according to a daily Treasury statement.
The debt jumped from $19.8 trillion to $20.1 trillion after Congress suspended the debt ceiling for three months, allowing the Treasury to borrow again on the open markets.
For months, it had been using off-book extraordinary measures to keep from defaulting. Since President Trump signed a bill including the debt lift Friday, it was able to start unwinding those measures with regular borrowing, and increase the debt. . .