Think you understand the size and scope of the national debt? It’s growing much more quickly than you think thanks to the many ways the government borrows money, according to an analysis from the Washington Examiner.

While most people assume the national debt grows each year because of the budget deficit, that’s not the only way that national debt expands. In the last 10 years, the national debt has actually expanded past the collective sum of adding every year’s budget deficit together … by more than $3 trillion.

That difference comes from two main things:

1. Decisions related to federal lending (e.g., student loans, mortgage programs, other federal credit programs)
2. Intra-government holdings, or money the government borrows from itself

The Washington Examiner reported:

Conservatives have criticized this form of borrowing since it’s essentially the government borrowing from itself to fund deficit spending. But it continues to happen: 10 years ago, total intra-government holdings were $3.7 trillion, and they now stand at $5.4 trillion — a $1.7 trillion increase.

At least under current projections, these components are expected to keep rising over the next decade. The Congressional Budget Office says the budget deficit is expected to rise again to $1 trillion by 2024, and that “other means of financing” are also expected to add dozens of billions of dollars each year.

If big government continues to overspend, our country is headed toward a debt crisis. Click here to help Tea Party Patriots push for a commonsense spending plan that would balance our budget within five years!