US debt shot up $238 billion to reach 100 percent of gross domestic project after the government's debt ceiling was lifted, Treasury figures showed Wednesday.
The US Capitol is reflected in the water surrounding the skylight of the Capitol Visitor Center on Capitol Hill in Washington, DC, in July 2011. US debt shot up $238 billion to reach 100 percent of gross domestic project after the government's debt ceiling was lifted, Treasury figures showed Wednesday.
Treasury borrowing jumped Tuesday, the data showed, immediately after President Barack Obama signed into law an increase in the debt ceiling as the country's spending commitments reached a breaking point and it threatened to default on its debt.
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About the author
- Writer: AFP News agency
- Position: Agence France-Presse
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