Economy

The US debt ceiling explained and more facts

As of June 29, 2011, the Total Public Debt Outstanding of the United States of America was $14.46 trillion.
The United States has had public debt since its inception. Debts incurred during the American Revolutionary War and under the Articles of Confederation led to the first yearly reported value of $75,463,476.52 on January 1, 1791.
The US debt ceiling as been raised 77 times already since it was first introduced in 1917

Source: Wikipedia