It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
(visit the link for the full news article)
he amount of U.S. debt subject to the country's legal maximum has topped $14 trillion for the first time.
On Wednesday, the amount of debt subject to the cap hit $14.001 trillion at the close of trade, according to the daily Treasury statement released on Thursday.
That means the country is less than $300 billion away from the $14.294 trillion debt ceiling, which is a cap on how much the federal government can legally borrow.
The debt ceiling has become a focal point of the debate over spending and debt. Even though congressional leaders say the cap will be raised, Republicans are vo
The US debt ceiling is $US 5.95 TRILLION, set on August 5, 1997.
Here is the current debt level from the Bureau of the Public Debt.
In 1940, the debt ceiling of the U.S. Treasury was $49 Billion. With a population of 132 million, that's $370 per person. The present debt ceiling is $5,950 Billion. With a population (1996 est.) of 265 million, that's $22,450 per person.
Since 1940, U.S. population has risen by a little over 100%. The debt ceiling has risen by 12043% or 120.5 times. We don't know how high a stack of $100 bills it would make, but here are some comparisons to show you how big a number 5.95 TRILLION really is.
Originally posted by mtnshredder
reply to post by zorgon
Allen Grayson is great. I don't always agree with his party but he is a very intelligent man. His delivery and tact is priceless. I always liked this one, he OWNS Bernanke.