BUDGET SANITY – GETTING OUR PRIORITIES STRAIGHT

Has the case of debt really changed that much in recent times ?

As regards the debt overall, it is accelerating rapidly with annual deficits back now at over $1 Trillion per year. The first trillion in total debt was reached in Reagan’s presidency, the third trillion less than a decade later under G.W.Bush, and the last trillion, raising the total above $20 Trillion was added in just over six months. Obligations on those amounts in interest beyond the sums themselves impede discretionary spending in much needed areas.