US Debt 14 Trillion Dollars
Published / Last Updated on 16/05/2011
US Debt 14 Trillion Dollars
US Debt has now reached the limit set by Congress last century and the US treasury are now fighting to cut the $14trn debt. Investment into two large government pension funds will now be suspended in an attempt to prevent a breach of the limit.
According to Timothy Geithner Treasury secretary, he is now urging politicians to set a higher debt limit - he has also written to Congress previously stressing the importance of taking action to increase the debt limit.