National, News

Framing The Debt Limit Debate


Today’s national debt—the public debt that government has accumulated to finance its out-of-control spending—is approximately $14.3 trillion. To put that into perspective, the government’s annual budget for 2011, which is in itself bloated, is roughly $3.7 trillion. And to put the future health of our economy in perspective, President Obama proposed in his 2012 Budget proposal that we add $9 trillion to that debt over the next ten years.

Our government borrows nearly 40 cents on every dollar it spends. And the more we borrow, the higher these projections go. In other words, our national debt isn’t a problem…it’s a crisis.

via Morning Bell: Framing The Debt Limit Debate | The Foundry: Conservative Policy News..

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About Prince of Peeps

I'm the little bird on the backyard fence telling the world about whatever is on my mind. Some people may stop to listen, some may not. I call it the way I see it, and tell it the way I think it ought to be.

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