National Debt Soars $500B In Under A Month
1 Nov 2008
NEW YORK (CBS) ― It's the surge you won't hear anyone boast about.
Never before in U.S. history has the national debt increased as much and as rapidly as it has over the past month.
Since September 30, the day the national debt hit the $10-trillion mark for the first time, the government has run up over $500 billion in new debt.
That's more than the federal deficit for the entire 2008 fiscal year, which ended September 30. And it's the most rapid increase in the national debt ever: over half a trillion dollars in less than a month - 23 days to be exact.
I don't envy the next President. Cleaning up after W will NOT be easy.
On the bright side, IF McCain/Palin win and really do make it their policy to balance the budget, things'll be really ugly four years from now!!!
Have a nice day.
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