Free Republic

By the middle of 2008, for example, American households had build up debt of $13.9 trillion, more than double what it was a decade before. Businesses had accumulated debt of $10.9 trillion, also doubling in a decade. And financial institutions had piled up debt of $16.6 trillion, up from $6.3 trillion in 1998. And the federal government? During that same period -- drum roll -- its debt rose from $3.8 trillion to $5.3 trillion. The thing to remember is that debt is debt, no matter where it is, and unless it's paid back, all of it will get passed on...