WASHINGTON - The Senate voted Thursday to allow the national debt to swell to nearly $9 trillion, preventing a first-ever default on U.S. Treasury notes.
In 1987, right before the October crash, the national debt was $2.3T
But 10 short years ago, the national debt was a mere $5T, most of which was domestically owned.
When the 9/11 attacks occurred, the national debt was a shade under $5.8T.
Over the last few years the debt has been growing about $500B per year, more and more of which is going into foreign hands.
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Thursday, March 16, 2006
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