US debt reached $238 billion, 100% of GDP on Wednesday, figures from the Treasury Department show:
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 aftersigned 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.
We are now spending more than we produce per year. No wonder we are being lectured by China on how to manage our money.
Oh Boy: Clinton Reportedly Used Private Server For Clinton Foundation and State Department Business | Katie Pavlich
Team Jeb Hits Back at Trump for Being 'Soft on Crime,' Cites Past Support for Legalizing Drugs | Cortney O'Brien
Sen. Chris Murphy Admits That Gun Control Legislation From Washington Probably Won’t Stop Shootings | Matt Vespa
Latest Clinton Email Server Dump Reveals 150 More Documents Flagged For Classified Information | Katie Pavlich