Congress Sets New Federal Debt Limit: $9 Trillion
The federal debt has risen from $542 billion to more than $8 trillion since 1975.
Enlarge...Federal debt has risen from $542 billion to more than $8 trillion since 1975. Debt as a percentage of Gross Domestic Product, once at 34.7%, is now above 60%. NPR...Morning Edition, March 16, 2006 · Faced with a potential government shutdown, the Senate votes to raise the nation's debt limit for the fourth time in five years. The bill passed by a 52-48 vote, increasing the ceiling to $9 trillion. The bill now goes to the president...READ MORE