This will make your credit card debt following Black Friday look like chump change.
The national debt has officially skyrocketed past $18 trillion for the first time as of Friday, reports The Blaze.
A chart from the U.S. Treasury Department shows that our nation’s debt currently sits at $18.005 trillion. Amazingly, the debt increased a whopping $40 billion in just two days.
If you’re wondering who you’re indebted to for the debt, don’t hesitate to thank President Obama. After all, the national debt has increased by almost 70 percent throughout his presidency.
When he first assumed office, the national debt clocked in at $10.626 trillion, meaning it has increased nearly $7.5 trillion in six years.
Of course, Republicans are seizing on the Democratic administration’s overspending.
Republican National Committee Chairman Reince Priebus called the debt milestone a “sad moment for America,” emphasizing the terrible mess Obama’s spending leaves for younger generations to mop up.
“He has the worst record of any president when it comes to putting America deeper in debt,” Priebus said in a statement. “Spending more money than we have is immoral; it hurts future generations who will be left to pay off the bills. Taking care of this generation shouldn’t require robbing the next.”
“Americans concerned about our unsustainable spending habits should think twice before electing another big spending liberal like Hillary Clinton to the White House,” the RNC chairman concluded. “We literally cannot afford to continue Barack Obama’s policies. Our children and grandchildren deserve better.”
Back in November, House Speaker John Boehner (R-Ohio) and incoming Senate Majority Leader Mitch McConnell (R-Kent.) pledged to address the “national debt that has Americans stealing from their children and grandchildren, robbing them of benefits that they will never see and leaving them with burdens that will be nearly impossible to repay.”
