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$10 Trillion, and No Headlines
National Debt Passes a Milestone
October 4, 2008

All the headlines have been about the $700 billion financial package, rejected then passed in Congress this week. I saw no headlines—not even an article about a $10 trillion amount.

On Sebtember 30, the last day of the 2008 U.S. fiscal year, the National Debt topped $10 trillion for the first time in our history. And it continues to soar at a phenomenal rate. It has already risen to ###. (National Debt Clock provided by zFacts.com)

And how did we get here?

Graph of National Debt, 1950-2008

Draw your own conclusions.

 

   

copyright © 2010, J. C. Adamson