CIVICS NEWS Comment: This of course doesn't even count the $23 trillion in bailouts under Bush and Obama. Nor does it account for the coming shortfalls in Medicare and Social Security, a fiscal gap that amounts to $99 trillion (9 times greater than the GDP: the value of all of the goods and services produced in America in a year). Don't miss the archive of posts under "Government Debt."
Obama’s Spending Plans Will Nearly Double the National Debt
Terence P. Jeffrey - CNSNews - August 24, 2009
In news leaked late Friday to the Reuters news agency, the White House conceded that the national debt will increase by $9 trillion over the next ten years, nearly doubling a national debt that now stands at $11.67 trillion.
Until now, the White House had been estimating that the national debt would increase by $7.108 trillion between 2010 and 2019. On Friday evening, Reuters reported that an unnamed senior administration official was saying that a report due from the Office of Management and Budget on Tuesday would indicate that the debt would actually increase by $9 trillion during that period, almost $2 trillion more than the administration had previously estimated. [...]
I think his approval ratings have gone down because he promised us change, and all we got is change...(coins-leftovers). Terrible!!! Now, that’s all we are left with..some pocket change.
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