Trillion? US national debt clock in Times Square runs out of digits for the first time as debt exceeds $10 trillion

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The US government's debts have ballooned so badly the National Debt Clock in New York has run out of digits to record the spiraling figure. The digital counter marks the national debt level, but when that passed the $10 trillion point last month, the sign ran out of digits for the first time.

The clock, located in Times Square, shows the amount of money owed by the US government. It was created by the late Manhattan real estate developer Seymour Durst, who put the sign up in 1989 to call attention to what was then a $2.7 trillion debt. The clock's owners say two more zeros will be added, allowing the clock to record a quadrillion dollars of debt.

For the time being, the Times Square counter's electronic dollar sign has been replaced with the extra digit required. For its part, the digital dollar symbol has been supplanted by a cheaper version - perhaps a sign of the times for the American economy.

Some economists believe the $700bn bail-out plan for ailing US financial institutions could send the national debt level to $11 trillion.

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Images courtesy of AP Photo/Kathy Willens

Original Source: BBC News and Times UK