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Since March 1962, the debt ceiling has been raised 74 times, according to the Congressional Research Service. Ten of those times have occurred since 2001. Expect more of the same over the next decade.
Even though its total share of the total U.S. public debt outstanding fell from 8.5% to 7.9% between FY 2012 and FY 2013, China increased the amount of its holdings of U.S. government-issued debt by nearly $130 billion, lending approximately 18% of all the new debt borrowed by the U.S. Treasury in Fiscal Year 2013.