


Another fine Saturday brings with it a "shot & chaser" story and ushers in the beginning of March with a reminder that the federal government continues wild spending that's keeping the country headed at high speed toward the cliff of bankruptcy.
Before the chaser, though, remember all the promises about Biden's "Build Back Better" agenda adding zero dollars to the national debt?
On top of that, we had claims from President Biden last summer about how much he cut the federal debt:
At least Biden, the Democrats and many Republicans are focusing on what's most important: Trying to send a lot more money to Ukraine.
Yikes.
It doesn't appear there are nearly enough politicians (or voters for that matter) who care to stop it.
"This is fine" indeed:
The debt load of the U.S. is growing at a quicker clip in recent months, increasing about $1 trillion nearly every 100 days.
The nation’s debt permanently crossed over to $34 trillion on Jan. 4, after briefly crossing the mark on Dec. 29, according to data from the U.S. Department of the Treasury. It reached $33 trillion on Sept. 15, 2023, and $32 trillion on June 15, 2023, hitting this accelerated pace. Before that, the $1 trillion move higher from $31 trillion took about eight months.
U.S. debt, which is the amount of money the federal government borrows to cover operating expenses, now stands at nearly $34.4 billion, as of Wednesday. Bank of America investment strategist Michael Hartnett believes the 100-day pattern will remain intact with the move from $34 trillion to $35 trillion.
What could possibly go wrong?
It's because of all the Building Back Better, or something.
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