U.S. Added Nearly $700 Billion to National Debt in Four Months

Headlines USA - The U.S. government added $696 billion to the national debt over the past four months, borrowing $94 billion in the month of January alone, the Congressional Budget Office reports.

The number further heightens the risk that America will experience some kind of financial crisis unless deficits are tamed, president of the Committee for a Responsible Federal Budget Maya MacGuineas warned.

“If we continue to borrow at this rate, it leaves us on the path to another year of a $1.8 trillion or higher deficit,” MacGuineas stated Monday. “If these estimates aren’t alarming enough, the national debt continues to climb toward record levels – equaling about the size of the entire U.S. economy today.”