  U.S. debt reaches $16 trillion for the first time September 5, 2012 - 10:20 AMT PanARMENIAN.Net - U.S. government debt reached $16 trillion for the first time after rising $1 trillion since November, according to Treasury Department data. The debt rose to $16.02 trillion on Aug 31 as Republicans and Democrats debate ways to trim the budget deficit. The parties will have to negotiate on raising the $16.4 trillion federal debt ceiling. Treasury officials have said the U.S. will reach the limit in the fourth quarter of this year and can take measures so that Congress doesn’t have to raise it until 2013, Bloomberg reported. U.S. government debt reached $14 trillion in December 2010 and $13 trillion in June 2010. Ten years ago today the debt was $6.2 trillion. Partner news  Top stories Tigran Sargsyan noted that the new plant will be constructed after the current one is finally out of operation. IFC invested $244 million in 40 projects across a range of sectors, including financial markets, manufacturing, and mining. Armenian Prime Minister addressed a letter to Public Services Regulatory Commission over the reconsideration of gas prices. Armenia’s Public Services Regulatory Commission plans to reconsider electricity generation and distribution prices.   Partner news |  Latest news Penguin reaches $75mln agreement in iBooks price fixing lawsuit  In a press release, Penguin's parent company, Pearson, noted it had made a $40 million provision for settlement in its 2012 accounts.Baku says OSCE Minsk Group activity yielded “certain results” Bahar Muradova says the report of the political committee of the OSCE PA summer session comprises provisions on the conflict.Diplomats say Iran installed 700 high-tech centrifuges The new IR-2m centrifuges are believed to be able to enrich two to five times faster than the old machines.FBI agent kills man in Boston bombings case The agent shot in self-defense in the incident, which occurred at Todashev's house, the law enforcement source said. |
