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U.S. National Debt Passes Debt Ceiling
CBS News reports that the National Debt has passed the statutory Debt Limit.
The latest calculation of the National Debt as posted by the Treasury Department has - at least numerically - exceeded the statutory Debt Limit approved by Congress last February as part of the Recovery Act stimulus bill.
The ceiling was set at $12.104 trillion dollars. The latest posting by Treasury shows the National Debt at nearly $12.135 trillion.
No doubt the government will soon raise the spending limit. You can always find the latest National Debt number here, here and here.
Posted on December 19, 2009
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