America Should Brace for Debtpocalypse in August Unless Congress Acts, Treasury Chief Says

Sputnik

By Ilya Tsukanov

June 25, 2016

US federal debt surpassed $28 trillion in March, with every man, woman and child in the country owing more than $85,000 for the federal government’s spending. Combined debt – which includes federal debt plus all other public and private obligations, stands at over $85 trillion – or over four times the US’ annual GDP.

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