National Debt Crosses $13 Trillion Mark
Via Mark Knoller, the Treasury Department announced that as of yesterday, the U.S. national debt has crossed the $13 trillion mark. The exact number is now $13,050,826,460,886.97, a record high.
Of course, the $13 trillion mark itself is not meaningful. But Congressional rhetoric around it might be. Though unemployment remains high and the economy is generally weak, the Hill looks more and more concerned with deficits and debt than with adding stimulus to bolster the recovery.
The current U.S. gross domestic product is around $14.6 trillion, making debt 89 percent of GDP, and the current congressionally authorized debt ceiling is $14.3 trillion.