US debt has reached $US13 trillion ($A15.66 trillion) for the first time in history, the Treasury Department says.
Amid vast government spending designed to stave-off economic calamity, the debt reached $US13,050,826,460,886.97 ($A15.72 trillion) on June 1.
The debt has increased by around $US1.6 trillion ($A1.93 trillion) in the last year and more than doubled in the last ten years.
It now stands at just under 90 per cent of annual gross domestic product, the US Treasury said on Wednesday.
© 2010 AFP
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ReplyDelete* The High Cost Of The U.S. Budget
* US public debt tops $12 trillion for first time ever:
http://rightways.wordpress.com/2010/02/09/the-high-cost-of-the-u-s-budget/
Would this bankrupts US government?