Govt. Debt was USD9.1 Trillion, According to Treasurydirect.Gov

Posted on 06 December 2009 by Siddhi Sharma


Concerning The Daily Progress editorial column of 27th November (“Debt remains a grave danger”):

The 1st verdict says, “Govt. debt has two folded in the previous 2 years alone, to USD12 trillion.” No it has not. On 25th November 2007, govt. debt was USD9.1 trillion, as per to the treasurydirect.gov or treasury direct. Doubling-up it in 2 years would signify it would have to be USD18.2 trillion at the present. [smartads]

The explanation of “health care legislation that detracts figure will inflate the nation’s shortfall by another USD1 trillion or more in ten yrs” is pathetic. A further trillion dollars of debit in ten years would add to the county’s debt, but not “balloon the country’s deficit.”

1st, a trillion USD would just add to the debt by an extra 8.3 %, over 10 yrs no fewer. 2nd, the use of the utterance “deficit” makes me be unsure if The Progress be acquainted with the dissimilarity between deficit & debt.

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