National debt hits record $11 trillion

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.

by Manu Raju
Politico

The whopping number has major ramifications for President Barack Obama, who is trying to push through a raft of big-ticket bills on health care, energy, education and climate change — while also attempting to stabilize the swooning economy.

Read the rest:
http://www.politico.com/new
s/stories/0309/20139.html

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2 Responses to “National debt hits record $11 trillion”

  1. antiimpmedia Says:

    “The trust in the American economy goes down while it experiences an unexampled depression and more than 70% of economy American experts prove that. The wisp of trillions they pump will not survive their economy and will have no real effect or positive results because the war in Iraq and Afghanistan devours hundreds trillion dollars. The historic drop down of Dollar against the other currencies continues. The green currency became no more trustful. Oil price exceeded110 dollar and gold knocks 1000 dollar door. The American economy will soon declare bankrupt after they failed politically and their military losses went up.”

    Islamic Army in Iraq Leader, March 2008

  2. antiimpmedia Says:

    Of course, this is the link:
    http://antiimpmedia.wordpress.com/2008/03/21/trillions/

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