Presented here, in one chart: References Nakamura, David. Obama Asks Congress for Debt Limit Hike. Washington Post: Politics and Policy. 12 January 2012. Tapper, Jake. R.I.P., Department of Commerce? President Obama Seeks to Consolidate Government Agencies. ABC News: Political Punch. 13 January 2012.
I could not resist posting this beautiful graph of the current state of the momentousness US debt. The graph is particularly useful for eyeballing the historical path of U.S. debt to GDP. Often pundits will say that our current debt-to-GDP ratio is not unreasonable because it is not too high relative to the period…
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