Addicted to Debt: 100% of GDP!


From Agence France Presse, 2 hours ago, August 3, 2011:

US debt shot up $238 billion to reach 100% of gross domestic project after the government’s debt ceiling was lifted, Treasury figures showed Wednesday.

Treasury borrowing jumped Tuesday, the data showed, immediately after President Barack Obama signed into law an increase in the debt ceiling as the country’s spending commitments reached a breaking point and it threatened to default on its debt.

The new borrowing took total public debt to $14.58 trillion…putting it in a league with highly indebted countries like Italy and Belgium.
Read the rest of the article, here.
~Eowyn

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DCG
DCG
8 years ago

hopeandchange sucks…

Dave
Editor
Dave
8 years ago
Reply to  DCG

And it bites, too.
-Dave