The previous high of $238 billion was set two years ago.
The Washington Times reports that the sudden increase can be attributed to the government's "replenishing its stock of 'extraordinary measures' - federal funds it borrowed from over the last five months as it tried to avoid bumping into the debt ceiling."
Since May, the federal debt barely increased, staying right around $16.7 trillion. But Congress's recent deal, which went into effect on Wednesday, completely suspended the government's borrowing limit.
When the debt ceiling increased on Wednesday, the Treasury Department was subsequently able to refund pensions and programs that had been unfunded since May.
The government can now borrow as much money as it needs to until February 7 (the deadline set by Congress).
During the government shutdown, House Republicans fought to attach some limits to the debt increase, but eventually gave in and accepted the Senate's deal. Not one spending cut was included in that deal.
Democrats argued that the "clean" debt ceiling suspension does not encourage out-of-control spending.
It may not encourage sky-high spending, but it certainly allows for it.
Your thoughts on the rising debt? Tell us in the comment section below.
Its all a bit too late now. The dollar will be sacrificed and America will collapse as a world power and economically. That may be for the good in the medium to long term but it leaves the way open for the Sino-Soviet (in all but name) axis to impose their hegemoney.upon the world. Strangely, perhaps, I see this as a good thing in the short term. In the long term it represents the collapse of Western Democracy and a new dark age. OK it looks like that was the way that the US Psychos were taking us but it may become much worse as the Russians and Chinese are better at dark ages.
The Eurozone collapse will follow the collapse of the USA or might even precipitate it. The end game might be a multi-tiered Europe with the first tier comprised of Germany, France, Denmark, the Netherlands,Belgium and even a shattered Great Britain embraced in a political union with outlying eurostates involved in various free-trade arrangements.
We must look to the stars for our salvation....
...but only Itys will come.