Tuesday, April 19, 2011
America loves debt!
US President Barack Obama says America needs to be more fiscally responsible. Ironically, Mr. Obama is also calling for an increase in national debt ceiling. Currently, the country is more than 14-trillion dollars in debt. According to the congressional budget office, nearly 200-billion dollars of interest was paid out to public debt holders in 2010. With its own accounting is such disarray, many say America has lost legitimacy to lead the world on economic issues.
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