Debt approaches historic high

posted by
March 1, 2011
Liberty Unbound
by Gary Jason  
Posted in Commentary

"A recent report went virtually unnoticed, given the uprisings of oppressed peoples from Libya and Egypt to Wisconsin and Indiana. (In the last two cases I refer to the uprisings of the taxpayers against the tax eaters.) It turns out that the government debt of this fabulously progressive nation now exceeds its GDP. Yes, if you add what the federal, state, and local governments owe to creditors, the sum exceeds what the county produces in a year, which is about $15.1 trillion." (02/28/11)  


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