LEGISLATIVE

ARE WE FIXING THE BUDGET?

Editorial by Sharon Edwards

Imagine finding a bill from the federal government in your mailbox for $27,500.00. Sounds pretty far out, right? But that is the share of the national debut each U.S. citizen would owe today to pay off our national debt of some $8 trillion. And it is increasing at the rate of $2.83 billion a day. According to the Concord Coalition, U.S. debt is greater than the combined economies of the seven biggest countries in the world. We used to own our debt, but for years now the U.S. has relied on other countries to loan us the money to finance it; China, who is becoming a major economic power, holds much of it.

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