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News Link • Economy - Economics USA

US borrowing tops 100% of GDP: Treasury


US gross debt shot up $238 billion to reach 100 percent of gross domestic product after the government's debt ceiling was lifted, Treasury figures showed.

On Tuesday, the Treasury had to add more than $200 billion of commitments immediately after President Barack Obama signed into law an increase in the debt ceiling.


1 Comments in Response to

Comment by Powell Gammill
Entered on:

You know what this means?!!!!  It's time to redo the formula for calculating the GDP again.

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