Thursday, August 4, 2011

Time to thank Jaime Herrera for doing HER part in this: US borrowing tops 100% of GDP: Treasury

Congrats to Ridgefield Barbie for helping to rape the entire country with her cowardice and lack of vision... she voted for the debt ceiling bill that fixed NOTHING and screws EVERYONE.

US borrowing tops 100% of GDP: Treasury

US debt shot up $238 billion to reach 100 percent 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, over end-2010 GDP of $14.53 trillion, and putting it in a league with highly indebted countries like Italy and Belgium.

Public debt subject to the official debt limit -- a slightly tighter definition -- was $14.53 trillion as of the end of Tuesday, rising from the previous official cap of $14.29 trillion a day earlier.
Cross posted at Clark County Politics.

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