US Government Borrows $1.8T in Four Months

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The government hit the debt ceiling back in January which blocked any net new debt from being created from January to June. Once the debt ceiling was lifted, the government wasted no time in catching up for all the months where borrowing was frozen. From July through October, the government borrowed an eye watering $1.8T!!

Note: Non-Marketable consists almost entirely of debt the government owes to itself (e.g., debt owed to Social Security or public retirement)

Figure: 1 Month Over Month change in Debt