Obama’s Spending Plans Will Nearly Double the National Debt

[efoods]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.

Since the beginning of the republic in the late 18th century, the U.S. government has accumulated a total of $11.67 trillion in debt. In the next decade, under the budget plans the Obama administration

Read entire article

  Print this page.

Comment Rules

Comments are closed.