To keep the federal government running into early next year, the Senate has voted to extend Washington's line of credit by an additional $1.9 trillion, to $14.3 trillion. The House is expected to follow suit next week.http://content.usatoday.com/communities/ondeadline/post/2010/01/senate-oks-19t-boost-in-debt-—-to-143t/1
The nation's current debt limit — $12.4 trillion, which Congress approved on Christmas Eve — will be reached in mid-February. Doing the math, AP says $14.3 trillion in debt works out to $45,000 for every American.
Be afraid - - $14.3 trillion in debt ($45,000 for every American) is unsustainable, banana republic, hyper inflation territory.