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Not only is the federal government borrowing 40 cents of every dollar it spends, it has also accumulated a national debt that is nearly 70 percent of the U.S. annual economic output. That is expected to be 100% be the end of 2011 if a new direction is not taken.
Compare that to an American household that already had debts of 70 percent and then started putting 40 cents of every dollar it was still spending on credit cards
Continue reading on Examiner.com Feds in Washington Borrow 40% of Every $1 Spent - National Watchdog Politics | Examiner.com http://www.examiner.com/watchdog-po...gton-borrow-40-of-every-1-spent#ixzz1O3czeUys
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http://www.examiner.com/watchdog-po...gton-borrow-40-of-every-1-spent#ixzz1O3acFqxy
Compare that to an American household that already had debts of 70 percent and then started putting 40 cents of every dollar it was still spending on credit cards
Continue reading on Examiner.com Feds in Washington Borrow 40% of Every $1 Spent - National Watchdog Politics | Examiner.com http://www.examiner.com/watchdog-po...gton-borrow-40-of-every-1-spent#ixzz1O3czeUys
Read more
http://www.examiner.com/watchdog-po...gton-borrow-40-of-every-1-spent#ixzz1O3acFqxy