A New World Record

And it’s not a record to be proud of.

At $14 trillion, US debt surges to all-time high

The United States just passed a dubious milestone: Government debt surged to an all-time high, topping $14 trillion – $45,300 for each and everyone in the country.

That means Congress soon will have to lift the legal debt limit to give the nearly maxed-out government an even higher credit limit or dramatically cut spending to stay within the current cap. Either way, a fight is ahead on Capitol Hill, inflamed by the passions of tea party activists and deficit hawks.

See also:
At $14 trillion, US govt debt surges to all-time high
National Debt Tops $14 Trillion … Increased 60% Under Speaker Pelosi
Record $14 trillion-plus debt weighs on Congress
US National Debt $14 Trillion And Growing
National debt greater than $14 trillion
Federal Debt Tops $14 Trillion, U.S. Treasury Reports
Record $14 trillion-plus debt weighs on Congress
US National Debt Crosses Alarming Level of $14 Billion
American deficit reaches $14 trillion; Congressional leaders set for fight over raising debt ceiling
Republicans coming to grips with debt ceiling
Some commentators now say everyone should chill about debt ceiling
Who Owns The U.S. National Debt?
How the Debt Ceiling Could Ding You
The US won’t default, even if the debt ceiling stays
The debt ceiling and default
Real Time US National Debt Clock

So, will Congress actually do something meaningful to rectify this bad situation we’re in or will they just kick the can down the road again?

/the longer we wait to make the tough choices that will be required, the more painful those choices will be