As the United States focuses on the attempted coup d’état of Speaker of the House John Boehner, falling oil prices and President Obama’s potential year of vetoes, one important facet of U.S. politics was ignored as the year came to an end: the national debt.
On the final day of 2014, the total national debt level rose by around $98 billion, which was driven by the soaring Social Security debt on the last day of 2014 (it now stands at $5.12 trillion). This is an astounding figure considering that on the final day of November the debt rose just $32 billion.
In total, the U.S. national debt level stands at $18.12 trillion, including an increase of $136 billion in the month of December and $790 billion for the entire year.
Here is a chart from the U.S. Treasury outlining this massive jump in the debt:
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