Tuesday, March 17, 2009

National debt hits record $11 trillion - Manu Raju - POLITICO.com

National debt hits record $11 trillion - Manu Raju - POLITICO.com: "The eye-popping national debt surpassed $11 trillion Monday, the largest in U.S. history.

The new Treasury Department figures on the national debt were released as the non-partisan Congressional Budget Office is expected to project that the annual budget deficit will be higher than previously estimated by the White House's Office of Management and Budget. The debt, which refers to the cumulative amount of money the government owes, hit $10.9 trillion on Friday."

The government is spending future generations money to bail themselves out of the mess they got us into. Make no mistake, the meltdown could not have happened in a free market. The meltdown occurred because of government regulation and intrusion into the markets, preventing self correction.

The government ineptness and and lack of oversight caused all economic troubles we face today, this is why we need limited government as outlined in the constitution.

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