and that the debt has grown from $10.632 trillion to its current level of $18.99 trillion, an increase of $8.36 trillion or 78.6 percent since President Obama took office, one would think that it would get top billing on the numerous debates that both parties have participated in so far.
An updated examination of the federal debt and
deficit issues by the Council on Foreign Relations provides us with a sense of
where the problems lie and when the debt and deficit issues will reach a crisis
point. While Washington is busy patting itself on the back over its
recent "progress" on reducing deficit spending from over $1 trillion
annually (or 10 percent of GDP) back in 2009 to 2012 to its current level of
$435 billion or 3 percent of GDP in 2015, this "progress" will prove
to be very short-lived.
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