Business News and Opinion

Posted on 11/17/2011 at 8:45:09 AM

Nearly 100% of GDP of the United States. The President of the United States Barack Obama

The debt of the U.S. Federal State exceeds 15,000 billion since Tuesday, according to figures released Wednesday by the Treasury Department. It reached that day 15,033.6 billion at the close of daily counts of the Treasury, or 55.8 billion more than the previous day, the ministry said. This corresponds to 99% of U.S. GDP expected by the White House for all of 2011.

The crossing to higher threshold of 15,000 billion took place while the Joint Commission of Congress to reduce the budget deficit barely reach an agreement that would define budgetary savings of at least 1200 billion cumulative ten years.Failing agreement by November 23, the law provides for the automatic implementation, from 2013, cuts in government spending by a total of 1.200 billion over ten years, divided equally between defense spending and the remaining costs.

The U.S. public debt had reached upwards of 10,000 Cape billion in September 2008. Since then, the United States earn 1,000 billion additional debt every seven and a half months on average. In its latest "Public Finance Monitor" published in September, the International Monetary Fund (IMF) estimates that public debt of the United States is expected to reach 100% of GDP at the end of the year, 105% in 2012, and continue to move up to 115% in 2016.

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