Just in time for the DNC convention.
Debt tops $16 trillion
The Treasury Department said Tuesday that the federal government has now officially topped $16 trillion in debt.
The announcement, which came just an hour before Democrats gaveled in their convention in Charlotte, N.C., to renominate President Obama for another four-year term, immediately boosted the government’s grim fiscal picture back to the fore of the national debate.
Debt has risen at a meteoric pace under Mr. Obama — in less than four years in office he has already eclipsed President George W. Bush’s eight years. His advisers say he has a “plausible” plan to stabilize the debt, but defend his spending plans, saying to withdraw government stimulus now would hurt the economic recovery.
Read more at Washington Times.
Maybe the headline should be “U. S . debt is $16 Trillion”, no difference, Bush is not president now!
Debt clock at image 3:36 pm CST
See the clock for yourself at U. S. Debt clock.
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