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US debt tops 9 trillion for first time { October 2007 } Original Source Link: (May no longer be active)    http://today.reuters.com/news/articleinvesting.aspx?type=bondsNews&storyID=2007-11-07T230701Z_01_N07545790_RTRIDST_0_USA-ECONOMY-DEBT.XML http://today.reuters.com/news/articleinvesting.aspx?type=bondsNews&storyID=2007-11-07T230701Z_01_N07545790_RTRIDST_0_USA-ECONOMY-DEBT.XML US debt tops $9 trillion for first time-Treasury Wed Nov 7, 2007 6:07 PM ET WASHINGTON, Nov 7 (Reuters) - The U.S. Treasury Department said on Wednesday publicly held U.S. debt breached $9 trillion this week for the first time ever, just five weeks after Congress had raised the statutory borrowing limit. At the end of September, U.S. President George W. Bush signed a measure to increase the debt limit ceiling to $9.815 trillion from $8.965 trillion, allowing the government to keep issuing debt. The increase in the debt limit is the fifth since Bush took office in January 2001. The U.S. debt stood at about $5.6 trillion at the start of his presidency. In approving the debt limit increase, Congressional lawmakers said the $850 billion increase should be large enough to allow the government to continue borrowing into 2009, well beyond next year's presidential and congressional elections. The Bush administration estimated the U.S. federal budget deficit for fiscal 2007 would total $163 billion. The deficit for the year ended Sept. 30 narrowed by 34.3 percent from the $248 billion gap in fiscal 2006. (Reporting by Nancy Waitz; editing by Gary Crosse) © Reuters 2007.

Billions in federal lands sold off { December 3 2007 } Budget deficit hits 374b { October 20 2003 } Buffett attacks america as rich spending junkies { March 7 2005 } Buffett makes billions betting against dollar { March 5 2005 } Bush presides over biggest spending since 1990 Cheney says deficits dont matter { January 12 2004 } China holds the mortgage to the dollar { August 31 2005 } China loses faith in dollar Congress approves 1tr debt { May 27 2003 } Debt near ceiling again { February 20 2003 } Fd chair blames long term rates on world savings glut { March 20 2006 } Federal deficit estimated almost another trillion { January 25 2005 } Financial crisis if foreign investors pull out { November 21 2005 } Foreign investors finance US debt by 2b a day Government borrows billion a day { October 8 2004 } Greenspan leaves us with record debt { January 23 2006 } Greenspan warns not to pay down debt { March 22 2001 } Raise debt limit Raises debt limit { June 27 2001 } Republicans raise debt limits to 9 trillion { March 17 2006 } Short term yields above long term in reinversion Snowballing debt awaits taxpayers { December 1 2003 } Treasury needs to raise 8 trillion debt limit { February 2006 } UN calls for asian help US deficits { January 26 2005 } US debt tops 9 trillion for first time { October 2007 } War spending drives record deficit estimate Whitehouse urges raise debt ceiling { May 20 2003 } Files Listed: 27

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