Those accumulating deficits will push federal debt held by the public to significantly higher levels.

UK credit binge pushes debt above 500% of GDP 4.

Those deficits would push total debt held by the public to 77 percent of GDP by 2021.

The FSA has been pushing for the whole buffer to be "safer" sovereign debt.

As in the United States, governments can often push public debt off the books by setting up the loans through quasi-public corporations or private corporations supported by government loan guarantees.

The increase pushed total revolving debt to $407.2 billion.

"One has to be constantly mindful that to push debt into the future is frowned upon and not deemed to be the wisest course," he said.

After that, the growing imbalance between revenues and noninterest spending, combined with spiraling interest payments, would swiftly push debt to unsustainable levels.

That would push debt as a percent of equity to 89 percent from an already high 83 percent.

The deficits that will accumulate under current law will push federal debt held by the public to significantly higher levels.