US debt rises to $17 trillion after cap hike
20 Oct 2013 12:01 AM GMT
The USA’s public debt has increased to $17 trillion after the Congress hiked the debt ceiling. The treasury department reported that the public debt stands at $17.076 trillion, a $329 billion rise from the $6.747 trillion debt on Wednesday when the cap was upped.
Under the bipartisan deal, the Treasury can borrow money necessary to meet the government expenses till February 7. During the Obama Administration so far, $6.5 trillion has been added to the US debt. ‘For the first time in our nation’s history, our national debt has topped $17 trillion. This is unacceptable,’ tweeted Republican Senator Ted Cruz after the Treasury released the figures.
Under the bipartisan deal, the Treasury can borrow money necessary to meet the government expenses till February 7. During the Obama Administration so far, $6.5 trillion has been added to the US debt. ‘For the first time in our nation’s history, our national debt has topped $17 trillion. This is unacceptable,’ tweeted Republican Senator Ted Cruz after the Treasury released the figures.
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