Tuesday, November 25, 2008

Mounting debt

U.S. Government Reaches $7.38 Tln Debt Limit, Treasury Says According to Bloomberg news.
Former US comptroller general has pointed that total obligations, including Social security can be as high as 51 Trillion. For the first time in US history our National debt exceeds the combined value of all the households in the country. The debt has sky rocketed under the dual leadership of President Bush and the Democratic Senate and House of Representatives lead by Harry Reed (Dem) and Nancy Pelossi (Dem).

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