mo4ch:>History made: US national debt tops $22 trillion | Mo4ch News

The US national debt has climbed above $22 trillion. It is projected to continue rising by a trillion each year over the next decade, due to the cost of pensions and medical care for the retiring Baby Boomers.On Tuesday, the US Treasury Department published the daily statement showing outstanding public debt standing at $22.01 trillion. The sum total of government budget deficits has increased by $2.06 trillion since President Donald Trump took office in January 2017.The Congressional Budget Office (CBO) is projecting the deficit for fiscal year 2019 to be $897 billion, a 15 percent increase over last year’s $779 billion – and greater than the entire Pentagon budget, for comparison’s sake. The CBO has estimated the deficit will continue to increase by $1 trillion annually starting in 2022, due to the rising cost of entitlement programs like Social Security and Medicare.The deficit nearly doubled during the administration of President Barack Obama, growing by $9.3 trillion as the Feder…