Posted on 03/17/2009 5:37:12 PM PDT by Lady GOP
National debt hits record $11 trillion By: Manu Raju March 17, 2009 06:42 PM EST
The eye-popping national debt surpassed $11 trillion Monday, the largest in U.S. history.
The new Treasury Department figures on the national debt were released as the non-partisan Congressional Budget Office is expected to project that the annual budget deficit will be higher than previously estimated by the White House's Office of Management and Budget. The debt, which refers to the cumulative amount of money the government owes, hit $10.9 trillion on Friday.
The whopping number has major ramifications for President Barack Obama, who is trying to push through a raft of big-ticket bills on health care, energy, education and climate change — while also attempting to stabilize the swooning economy.
Sen. Kent Conrad (D-N.D.), chairman of the Budget Committee, said Tuesday that the numbers could force Congress to make "adjustments" to Obama's $3.6 trillion budget plan.
(Excerpt) Read more at dyn.politico.com ...
Drudge has link posted now
Isn’t it cheaper by the dozen, so why don’t we just go for a dozen trillion and then start asking our grandkids to start PAYING UP.
We cant pay it back. They are def stuck with it. We’re broke and the Chicoms are financing all our debt.
It’s time to consider making deficit spending unconstitutional except in the direst of circumstances.
Totally agree. Both party receive an F from me on spending. They are out of control.
take you FAMILY money away from you, and give it to the world
In this climate of complete dectruction of wealth there may not be any left by the time they are done.
Amen. My house is tiny for a reason. I do not have the nicest house on the block. Come hell or highwater, I can still make my payments.
I wuld love to have a 3,500 sq ft house, my paycheck does not allow it.
If I was not working, I could still make the payments.
The List, ping
I could swear the figure he used to attack President Bush's record was over 12 Trillion.
After all, whatever bad happens in the next four years will be Bush's fault don't you know. /s
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