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Us Borrowing Tops 100% Of Gdp

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http://au.news.yahoo.com/thewest/a/-/world/9970964/us-borrowing-tops-100-of-gdp-treasury/

WASHINGTON (AFP) - 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.

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The last time US debt topped the size of its annual economy was in 1947 just after World War II. By 1981 it had fallen to 32.5 percent.

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http://au.news.yahoo...f-gdp-treasury/

WASHINGTON (AFP) - 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.

And that doesn't include municipal debts either.

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You are right - the figure does not include muni's and I am not clear if there are other forms of debt at the State level. The most States are meant to meet the Balanced budget requirements however these are a mockery. Most States are heavily in debt and i dont think this is included in the Federal Debts. Perhaps someone can elucidate.

And that doesn't include municipal debts either.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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