Home > Economy, Government > Debt as far as the eye can see

Debt as far as the eye can see

President Obama’s fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation’s economic output by 2020, the Congressional Budget Office reported Thursday. – from Washington Times.

90%.  That is a staggering amount not seen by this country in generations.

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