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January 7, 2010

We Owe, We Owe: Staring Into a Spending Abyss

Houston Chronicle, Houston Chronicle

The United States economy arrives in 2010 with hopes for a better year than last, but also with an old and large elephant in the national living room. Two symbolic elephants, really: the soaring federal budget deficit and the spiraling national debt.

Those of a mind to see for themselves can go to www.usdebtclock.org for a quick and jarring representation of just how fast both are growing. Here you can see the dollar digits change at an eye-crossing blur on both the budget deficit and the national debt. (The U.S. Debt Clock Web site is a real-time compilation of federal economic and demographic statistics.)

For fiscal year 2009, which...

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Related Topics: budget

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