During his State of the Union address the President said that all his new proposals would not add one penny to the national debt, he also claimed that his administration had reduced spending by over $2 trillion. I have no way of knowing whether those statements are true or not, but I do know we continue to spend well beyond our means.
For the record on February 12, 2013 the national debt was $16,494,367,339,423. On February 13, 2013 the national debt was $16,524,304,599,079. In one day, the national debt increase by:
$29,937,259,656
That’s twenty-nine billion plus in one day
Draw any conclusion you will from the above, but these are the facts. Even if you believe as Paul Krugman does that this is no time to deal with short-term issues because we are still in a fragile recovery, isn’t it time to hold our politicians accountable for dealing with this debt over the long-term? Keep in mind that of the total debt, $4,855,702,571,931 is intergovernmental debt which is largely the treasury bonds held by the Social Security and Medicare Trusts.
Consider the chart below from the Concord Coalition:
Related articles
- SOTU FACT: National Debt Is Now $52K+ Per American (speaker.gov)
- 458 Years to Pay Off the National Debt? (missionmining.wordpress.com)
QUINNSCOMMENTARY 
I have not believed one of his speeches since he has been in office. He says one thing and then the direct opposite happens. His speeches are all empty words meant to appease the people for the moment.
LikeLike