National Debt Tops $13 Trillion

The National Debt topped $13-trillion for the first time in U.S. history - reflecting the surge in government spending that will push the Debt to increasing highs through the rest of the decade.

Posted on the Treasury Department website this afternoon, the National Debt hit $13,050,826,460,886.97 as of June 1st.

Tallied against the nation's Gross Domestic Product, the latest Debt number amounts to nearly 89.4 percent of the total economy.

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As with so much that comes from the government these numbers must be taken with a very large grain of salt. Our national debt if it is calculated to include forward obligations for which we have no money including various entitlement programs is conservatively $60 Trillion. Some estimates place it closer to $100 Trillion.