$10 Trillion in Debt
Posted in H.L. News, Main Blog (All Posts) on October 2nd, 2007 11:01 am by HL
U.S. $10 trillion in the red
Miami Herald
Excerpt
WASHINGTON — As the national debt heads toward the $10-trillion mark, generous Americans are sending checks to the federal government.
Donations to the Bureau of the Public Debt have topped $2.5 million so far this year. That’s the highest amount since at least 1996.
It’s not making much of a dent, though.
For the fifth time since 2001, Congress is raising the debt limit, increasing it by $850 billion to $9.815 trillion. The Senate approved the plan on a 53-42 vote Thursday. That’s $9,815,000,000,000.00.
The House of Representatives has already signed off on the plan, without a direct vote.
According to the folks who follow this stuff closely, the national debt has been rising by an average of $1.36 billion per day since September of last year.
And each citizen now has a share of nearly $30,000.