Debt

The politicians didn’t mention it – and the news media apparently didn’t find it worth reporting, but, nevertheless, Congress has raised the statutory Debt Limit from 5.5 trillion dollars to 5.95 trillion dollars. The bill authorizing the 495 billion dollar debt ceiling hike was [...]

If you listened to recent statements from the White House, you probably learned how the booming Clinton economy whittled the federal budget deficit down to a miniscule $23 billion dollars for fiscal 1997 — lowest in 23 years. The deficit figure was allegedly submitted by the number crunchers [...]

$5,385,463,327,534.04 AND CLIMBING! Do you believe this? The national debt is is now the greatest in history, according to the Bureau of the Public Debt. Federal taxes as a share of the gross domestic product (GDP) reached 20.8 percent in the second quarter of 1996. The federal government took [...]