March 16, 2015

Just a Friendly Reminder About Uncontrolled Debt

The federal debt isn’t going away any time soon – in fact, it’s only getting bigger. The Daily Signal reports, “It’s March 16, 2015, and it is the day the debt limit returns – with a vengeance. Since Congress suspended the debt limit for more than a year last February, the debt subject to the limit has grown by nearly $1 trillion, from $17.2 trillion to more than $18.1 trillion. A $900 billion increase in the national debt adds more than $2,800 in additional government debt for every American. Over the past 13 years, the debt subject to the limit has increased by nearly $12 trillion. … Public debt doubled since before the Great Recession, and is now at levels not seen since right after World War II. Now it’s at $41,000 for every American, and a child born in 2015 will be faced with a public debt of $142,000 by the time he or she leaves college, absent budget reforms.” Boy, pretty soon we’re going to be talking real money. More…

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