noworldsystem.com


US public debt tops $12 trillion for first time ever

US public debt tops $12 trillion for first time ever

AFP
November 18, 2009

http://www.youtube.com/watch?v=zGnQGaa1vEQ

The US public debt topped 12 trillion dollars for the first time in history, Treasury officials disclosed Tuesday, moving past a key barrier that raised hackles in Congress.

Treasury data showed Monday’s outstanding debt at 12.031 trillion dollars, up from 11.999 trillion on Friday.

The ballooning debt reflects the massive deficit spending by the government in an effort to revive an ailing economy over more than one year.

The public debt topped 10 trillion dollars in September 2008.

The debt is quickly approaching the statutory limit of 12.104 trillion dollars, meaning Congress would have to raise the ceiling to prevent a shutdown of government operations.

Read Full Article Here

Dems Looking To Raise Debt Ceiling To $13 Trillion

 


1 Comment so far
Leave a comment

There is a NYT article on the US debt today (see http://euandus3.wordpress.com/2009/11/23/12-trillion-in-debt-living-beyond-our-means/). It hasn’t been just after the financial crisis of 2008 that the US Government has had unbalanced annual budgets… And consider consumer “use” of credit cards? Is there something about our society–about ourselves–that we are missing because we are in it? (e.g. a fish doesn’t “see” its water). I don’t think we are digging deep enough.

Comment by euandus2




Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s



%d bloggers like this: