As the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plan, the American public is largely unaware that the true deficit of the federal government already is measured in trillions of dollars, and in fact its $65.5 trillion in total obligations exceeds the gross domestic product of the world.
2 comments:
To be fair, Obama inherited most of the debt from some other dude.
Bush did spend a lot of money to keep the country safe from terrorism. He is also to blame for the Medicare drug benefit. The rapidly expaning Social Security and Medicare obligations are the fault of Congressional Democrats. America's debt obligations are rapidly expanding under Obama.
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