All Commentary
Friday, June 4, 2010

U.S. Debt Hits $13 Trillion


“The federal government is now $13 trillion in the red, the Treasury Department reported Wednesday, marking the first time the government has sunk that far into debt and putting a sharp point on the spending debate on Capitol Hill.” (Washington Times, Wednesday)

$13,050,826,460,886.97 … it looks so small doesn’t it? Well, according to the Institute for Truth in Accounting the number is really more like $74,000,000,000,000.

FEE Timely Classic:
Monetary Policy Disasters of the Twentieth Century” by Kirby R. Cundiff