US debt crosses record 19 trillion likely to increase

Date

2/6/2016 11:48:57 PM

(MENAFN- Khaleej Times)

The United States of America is now officially a whopping $19 trillion in debt - that's T for trillion which translates tonearly $19000 billion.

According to the latest figures released by the US Treasury Department on Monday (February 1) technically the US federal government is in debt The Washington Times reported.

According to the report President Obama took office in 2009 with $10.6 trillion adding up to $8 trillion during his two terms- taking thenational debt to$19 trillion at a 'record pace'.

The Congressional Budget Office has said that this is likely to increase further.

As of February 5 the total federal government debt stood at $19.01 trillion. Of this $13.7 trillion is debt held by the public and the rest is internal government borrowing including the IOUs the government has left in the Social Security trust fun over the last three decades WT further reported.

So how much is the US citizen in debt?

According to a popular US national debt counter site www.us.debtclock.org:

- Debt per UScitizen: $58853

- Debt per taxpayer: $158836

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