All Commentary
Monday, January 9, 2012

It’s Official: U.S. Government Debt Equals GDP

“The soaring national debt has reached a symbolic tipping point: It’s now as big as the entire U.S. economy. The amount of money the federal government owes to its creditors, combined with IOUs to government retirement and other programs, now tops $15.23 trillion.” (USA Today)

Onward and upward!

FEE Timely Classic
The Evil of Government Debt” by Sheldon Richman