US Debt to Hit $19.6 Trillion By 2015
Debt on course to exceed GDP for first time
By Rob Quinn, Newser Staff
Posted Jun 9, 2010 4:05 AM CDT
Some fund managers have started selling off US Treasury bonds, worrying that the US won't be able to support its national debt.   (AP Photo/Richard Drew)

(Newser) – America's national debt is now at a dizzying $13.6 trillion and will reach $19.6 trillion in 5 years, according to a Treasury Department report. By 2015 the debt will, for the first time, exceed the value of all goods and services produced in America in a year, reaching 102% of GDP, Reuters notes.

The debt—enough to buy a couple of Canadas or, if you'd prefer, a dozen or two Iraq wars—includes Social Security obligations as well as debt held by both domestic and foreign investors. Bill Gross, head of the world's biggest mutual fund, warns that a "debt super cycle" looms, and that the US won't be able to support the debt if real interest rates go up instead of down.

More From Newser
My Take on This Story
To report an error on this story,
notify our editors.
US Debt to Hit $19.6 Trillion By 2015 is...
Show results without voting
You Might Like
Showing 3 of 10 comments
Jun 10, 2010 5:54 PM CDT
i'm interested in purchasing canada. direct me to an agent plz
Jun 9, 2010 11:49 PM CDT
Well that's not a lot when considering Meg Whitman spent 71 million dollars of her own money to finance her campaign. So we doing ok as a Nation. Thanks President Obama!
Jun 9, 2010 9:12 PM CDT
Its only money, and by that time Gold should be at $5000 an ounce and the US has 261 million metric tons PS thats 32000 ounces per person approx+/- living in US based on 300 million