I'm always watching the debt and usually the delta in total debt is 30-40% higher than the deficit. For example if the deficit for the year is 1 trillion the total debt will go up by 1.4 trillion. From what I understand this is because of some creative accounting where they don't count certain types of spending, they call it "off-budget".

But for Jan-Mar our deficits have added up to over a trillion (600+ billion in March!) but our total debt has stayed at 28 trillion. I heard that they are reducing the amount of reserve cash in the treasury by a trillion so maybe that's the reason? Anyway if that's the case that means that borrowing is going to ramp way up after they run out of excess cash.


Total Debt: