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arepo
arepo asked in Politics & GovernmentGovernment · 10 years ago

The national us-debt has reached $15 trillion today!?

...and the last debt ceiling was increased to $16.694 trln. At such rates, will it be sufficient until the next elections?

http://www.brillig.com/debt_clock/

3 Answers

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  • Anonymous
    10 years ago
    Favorite Answer

    That is one of the consequences of an economy only growing at 1.5%-2.5% GDP and 9% unemployment.

    Spending is only half of the equation in a budget deficit. Even if spending remained at the same level, or was reduced, if revenues produced are reduced at a greater rate, it would still result in Treasury needing to issue enough debt, to cover the deficit.

  • redbeard
    Lv 4
    10 years ago

    I kinda hope they will have to address this again before elections. seeing as how they tried to dodge it this last time.

  • ?
    Lv 4
    10 years ago

    BUSH!!!!!!!!!

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