27, the U.S. government announced that it will ask Congress this week will increase federal debt ceiling $ 1.2 trillion. This shows that the U.S. government is facing increasing financial pressure.
data show that, to the end of this year, the amount of U.S. government debt of $ 15.2 trillion from the existing ceiling remaining $ 100 billion. Required by law, President Obama proof submitted to the Congress. If approved, the U.S. federal government’s debt ceiling will rise to $ 16.4 trillion.
After months of arduous negotiations, the U.S. Congress finally the two parties this summer to improve the government debt ceiling to reach agreement. Under the agreement, the U.S. debt ceiling will be about $ 14.3 trillion in the original basis by at least $ 2.1 trillion. Congress on July and September, respectively, increased $ 400 billion debt limit and $ 500 billion.
data show that in fiscal year 2011 (end of September), the U.S. federal government budget deficit of about 1.3 trillion U.S. dollars, for three consecutive years exceeded $ 1 trillion mark. 2009 fiscal year, the U.S. budget deficit reached a record 1.41 trillion deficit for fiscal 2010 reached $ 1.29 trillion. Prior to fiscal year 2009, the U.S. federal government deficit never exceeded $ 1 trillion.
Since the end of a series of debt maturity
, the U.S. government is facing financial pressures, only a single month in December to a variety of federal trust funds to pay interest on nearly $ 82 billion, while the government needs to issue bonds to raise needed funds , which directly led to the debt amount approaching the legal limit.
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