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U.S. Federal Debt Hits $13 Trillion Record, As Congress Passes Emergency Spending Bills

Economics / US Debt Jun 06, 2010 - 06:09 AM GMT

Best Financial Markets Analysis Article The federal government is now $13 trillion in the red, the Treasury Department announced Wednesday. This is the first time the government has fallen so far into debt. Lawmakers and staffers on Capitol Hill have been awaiting the milestone with fascination for more than a week, and its arrival is likely to complicate efforts for Democrats as they try to pass several emergency spending bills this month.

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