A Closer Look at U.S. Federal Debt and the Debt Limit

The U.S. federal debt limit was last increased to $14.294 trillion on February 12, 2010. That federal debt limit is expected to be exceeded by mid-May to June and the 2011 ending estimated debt is $15.476 trillion. Federal debt ending 2010 was $13.5 trillion with $4.5 trillion held by government accounts and $9.0 trillion held by the public.

Analytical perspectives from the White House’s Office of Management and Budget website provide further breakdown on U.S. federal borrowing.

Wall Street Journal, April 19, 2011

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