The national debt level of the United States has always been a subject of controversy. But, given that four consecutive years of $1 trillion budget deficits (2009-2012) has pushed the national debt to over 100% of gross domestic product (GDP), it is easy to understand why people (beyond politicians and economists) are starting to pay close attention to the issue these days. read more
At $16 trillion and rising, our national debt is draining free enterprise and weakening the ship of state.” — House Speaker John A. Boehner, Jan. 3, 2013 With a debt ceiling limit looming in the next two months, Congress and the Obama administration appear set to have another bruising battle over spending priorities. read more