National debt spikes $578 billion in three weeks

The national debt has surged more than half a trillion dollars in the last three weeks, as the suspension of the debt ceiling in late October has allowed the government to borrow as much as it wants.

Before the debt ceiling was suspended, the national debt stood at $18.15 trillion. But over the last 22 days, it soared $578 billion.

As of Friday, total national debt stood at $18.72 trillion.

Rep. Mike Coffman, R-Colo., marked the spike in debt late last week, when he warned that the debt has jumped by more than $8 trillion under President Obama's watch.

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