The US government’s balance sheet continues to expand at a scorching pace, with more than a quarter of a trillion dollars in debt added in two months.
New data from the Treasury Department’s Debt to the Penny system shows the country’s national debt rose from $34.297 trillion on February 21st to $34.571 trillion on April 24th.
That’s an increase of $273.859 billion in about 60 days.
The record-high US debt level comes as billionaire investor Leon Cooperman warns that the country is inching closer to a financial crisis.
According to the hedge fund manager, the country missed the opportunity to achieve financial sustainability when it largely set aside the recommendations of the Simpson-Bowles report.
The report, which was released in December 2010 during the Obama
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