Leap in U.S. Debt Hits Taxpayers with 12% MORE RED INK

peaceandlove · 05-31-2009, 07:26 PM

Leap in U.S. Debt Hits Taxpayers with 12% MORE RED INK

Bottom line: The government took on $6.8 trillion in new obligations in 2008, pushing the total owed to a record $63.8 trillion.

By Dennis Cauchon, USA TODAY

May 31, 2009

Taxpayers are on the hook for an extra $55,000 a household to cover rising federal commitments made just in the past year for retirement benefits, the national debt and other government promises, a USA TODAY analysis shows.

The 12% rise in red ink in 2008 stems from an explosion of federal borrowing during the recession, plus an aging population driving up the costs of Medicare and Social Security.

That's the biggest leap in the long-term burden on taxpayers since a Medicare prescription drug benefit was added in 2003.

Article continues: http://www.campaignforliberty.com/wire.php?view=5588

RED INK LINK

US DEBT CLOCK (Debt Per Citizen Today $36,925 ): http://www.usdebtclock.org/

Wow, if you try to do anything else on your computer while that debt clock is running in another page, everything slows way down!

05-31-2009, 07:26 PM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Leap in U.S. Debt Hits Taxpayers with 12% MORE RED INK Leap in U.S. Debt Hits Taxpayers with 12% MORE RED INK Bottom line: The government took on $6.8 trillion in new obligations in 2008, pushing the total owed to a record $63.8 trillion. By Dennis Cauchon, USA TODAY May 31, 2009 Taxpayers are on the hook for an extra $55,000 a household to cover rising federal commitments made just in the past year for retirement benefits, the national debt and other government promises, a USA TODAY analysis shows. The 12% rise in red ink in 2008 stems from an explosion of federal borrowing during the recession, plus an aging population driving up the costs of Medicare and Social Security. That's the biggest leap in the long-term burden on taxpayers since a Medicare prescription drug benefit was added in 2003. Article continues: http://www.campaignforliberty.com/wire.php?view=5588 RED INK LINK US DEBT CLOCK (Debt Per Citizen Today $36,925 ): http://www.usdebtclock.org/ Wow, if you try to do anything else on your computer while that debt clock is running in another page, everything slows way down! Last edited by peaceandlove; 06-13-2009 at 11:22 PM.