GOVERNMENT & POWER • DEBT & SPENDING
Four hundred and thirty-one billion dollars. That’s what Washington borrowed in July. One month. That was $140 billion more than the same month last year. The CBO dropped the number Monday, and it barely registered a headline. Do the math on your own coffee break: every day of July, the Treasury sold roughly $14 billion in new debt just to cover the bills. Your Social Security check, your Medicare, the interest on debt already piled up — all of it, running on debt that keeps compounding on itself.
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That’s $6 billion a day, seven days a week, for a country not at war and not in recession.
