The Capital Cities Curmudgeon -- All Criticism, All the Time

We are dedicated to ridiculing big government as best we can. We honor an ancient truism: "There are people who can slap you on the back with one hand and pick your pocket with the other." We assume they are all politicians.

Wednesday, July 27, 2011

That Nasty Ol' National Debt

What makes it an issue now? $14.3 trillion dollars worth of U.S. debt.

It is not just the size of this debt, probably the greatest that any nation has ever owed in history, it is that it was initially due to a financial rescue program in 2008 when President Bush and Congress sought to avoid a collapse of Wall Street and banks. The TARP funds were eventually repaid.

Part of the current debt is due to massive spending programs by the Obama administration, allegedly to “create or save” jobs and “stimulate” the economy. They did neither. 


Read more here.
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)