U.S. debt reaches $16 trillion for the first timeSeptember 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. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Mirzoyan says meeting with Bayramov was “constructive” At the moment, Ararat Mirzoyan said, there is no basis for additional comments. OSCE vows support for Armenia “in all three directions of security” Achieving stable peace between Armenia and Azerbaijan remains a priority of the OSCE, said Ian Borg. 151 detained as civil disobedience campaigns continue in Yerevan Citizens have been blocking streets in the Armenian capital, demanding Nikol Pashinyan’s resignation. France welcomes Armenia-Azerbaijan meeting in Almaty France has welcomed the new round of negotiations between the foreign ministers of Armenia and Azerbaijan. |