3 Jun 2010

US deficit tops $US13 trillion

7:21 pm on 3 June 2010

The United States deficit has reached $US13 trillion for the first time in history.

The new peak was hit amid vast government spending designed to stave-off economic calamity.

The debt has increased by about $US1.6 trillion in the past year and more than doubled in the past 10 years.

It is now stands almost 90% of the annual gross domestic product of the United States.