How much debt faces the United States in its fiscal crisis?
U.S. faces fiscal crisis with $12 trillion debt When the debt limit must be raised again in February, a dozen senators led by Sen. Kent Conrad, behind the podium, and Sen. Judd Gregg, left, plan to block action unless they get a vote on their commission. FULL ARTICLE AT USA TODAY http://iplextra.indiatimes.com/article/08EM5oneQlcoH WASHINGTON — After $787 billion in stimulus spending and $700 billion in bank bailouts, 2010 is fast shaping up to be the year of the federal budget diet. Bipartisan support is growing in Congress for action to stabilize the nation’s bulging debt, which is now $12.1 trillion. Influential experts from former Federal Reserve Board chairman Alan Greenspan to former comptroller general David Walker have joined the cause. The public debt is the amount owed to individual investors, including foreign countries, but excluding money the government owes to its own trust funds. It has soa
