2014 Event The U.S. House of Representatives passes a $1.1 trillion budget within hours of the deadline, avoiding a government shutdown when current funding expires 2014 Event The G-20 summit in Australia ends with a commitment by leaders of the 20 nations to take steps to raise their collective GDP by $2 trillion over the next four years; critics say that proposed measures are not specific enough to achieve this goal 2014 Event Indian Prime Minister Narendra Modi will begin targeting assets stored overseas in an effort to avoid taxes; the Indian government estimates that up to $2 trillion may be in hiding; the nation follows China and Russia in magnitude of offshored wealth 2014 Event U.S. Treasury Secretary Jacob Lew urges Congress to increase the debt ceiling because the U.S government debt is expected to hit $17.2 trillion soon 2014 Event According to the Bloomberg Billionaires Index, the net worth of the 300 richest people in the world collectively increased by $524 billion; the group has an aggregate net worth of $3.7 trillion 2011 Event Newspapers report that Japan will issue over 10 trillion yen in emergency government bonds to help pay for their earthquake and tsunami recovery efforts 2010 Event U.S. President Barack Obama proposes a $3.8 trillion budget for fiscal 2011 which projects a record-high budget deficit of $1.6 trillion in fiscal 2010 1982 Event U.S. budget deficit reaches more than $110 trillion for fiscal year 1982 1981 Event U.S. national debt tops $1 trillion
