US debt increases to $17 trillion

Last Updated: Saturday, October 19, 2013 - 11:17

Washington: The public debt of United States has increased to a whopping USD 17 trillion after the Congress increase the debt ceiling this week.

The Department of Treasury, on yesterday, reported that the public debt stands at USD 17.076 trillion, an increase of USD 329 billion from the USD 6.747 trillion debt on Wednesday, when the Congress lifted the debt ceiling.
Under the bipartisan debt ceiling deal, the Treasury can borrow money necessary to meet the government expenses till February 7 next year.

During the Obama Administration, so far, USD 6.5 trillion has been added to the American debt.
"For the first time in our nation`s history, our national debt has topped USD 17 trillion. This is unacceptable," Republican Senator Ted Cruz tweeted after the Treasury released the latest figures.

PTI

First Published: Saturday, October 19, 2013 - 11:17

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