U.S. Avoids Government Shutdown With More Spending

On Thursday, the United States House of Representatives passed a $1.1 trillion spending bill. The bill barely passed with 219 in favor and 206 against.

The U.S. government would have run out of funds that evening at midnight if the bill had not passed. The new bill will fund nearly the entire government’s spending for the next fiscal year.

However, funding for the Department of Homeland Security will run out in February. The Republicans hope to force President Barack Obama to roll back his immigration policy.

The national debt now stands at $18 trillion. It will continue to grow quickly if the Congressional Budget Office’s predictions are accurate. The cbo predicts the nation’s deficit will grow each year from now to 2021, when it will return to the trillion-dollar level.

Private debt is also astronomical. Total U.S. debt is $60 trillion today—that includes government, business, mortgages and consumer debt.

To learn where this debt will lead the U.S., watch the Key of David program “‘We Don’t Have a Spending Problem.’”