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U.S. debt surpasses record $16 trillion
Updated: Wednesday, 05 Sep 2012, 3:13 AM EDT
Published : Wednesday, 05 Sep 2012, 2:47 AM EDT
Growing government costs are leading to record debt.
The United States Treasury Department announced that the current debt owed by the government and the American people has surpassed $16 trillion.
This is the first time that number has exceeded 16 trillion.
That number is rising at $4 billion per day.
The total debt equals out to over $50,000 owed by every American citizen.
For an up-to-date estimate on the U.S. debt, you can visit the website www.usdebtclock.org .
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