external debt

External Debt and Public Debt as % of GDP, by country

In the United States, a highly controversial issue right now is the debt ceiling limit.

The current debt ceiling of the US, set by law, is $14.3 trillion. According to the United States Treasury, this limit was reached in May 2011 and, if the limit is not raised, the US could fulfill all its obligations only until August 2, 2011 — less than a week from now.

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