The federal government has piled up debt since the latest budget deal was signed into law, tacking $462 billion onto the national credit card since Nov. 2 as the Treasury Department replenished its funds and began another round of borrowing to take it all the way into 2017.
A staggering $339 billion in total debt was added on just the first day after President Obama signed the budget agreement — the single largest hike in history.
The debt has continued to rise, albeit more slowly, in the days since, putting the president on track to come close to the $20 trillion mark by the time he leaves office in January 2017.
Meanwhile, the early deficit numbers for fiscal year 2016, which began Oct. 1, are already looking more grim.
The government ran a deficit of $136 billion last month, up 12 percent compared with the previous October, as spending ballooned and taxes remained nearly flat. It was the worst October since 2010, when the government was still spending on the stimulus and was on pace for a deficit of more than $1 trillion that year.
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