We are $14.481 trillion (and counting) in debt. That’s up from $293 billion 50 years ago. It’s up from $9.986 trillion when President Obama was poised to take office at the end of 2008 (see Table S-9). Heck, it’s up $14 billion (more than the annual profits of Coca-Cola, Disney, or Conoco-Phillips) from just five days ago. How are we accruing such colossal sums of debt?
President Obama and many members of Congress seem to think that defense spending is largely to blame. Is it?
Real journalism.Trusted by millions.
Unlimited access to in-depth reporting, expert analysis, and the stories that shape our country.
Subscribe Now
Already a member? Log in
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.