And not a good milestone - from The Washington Free Beacon:
Auditor: Government Will Owe More Money Than Entire Economy Produces
An auditor for the Government Accountability Office told lawmakers Wednesday that in the next few years the federal government will owe more than our entire economy produces.
Gene Dodaro, the comptroller general for the Government Accountability Office, testified at the Senate Budget Committee to provide the results of its audit on the government’s financial books.
“We’re very heavily leveraged in debt,” Dodaro said. “The historical average post-World War II of how much debt we held as a percent of gross domestic product was 43 percent on average; right now we’re at 74 percent.”
And the chickens will be coming home to roost for our children and their children. We are spending like a drunken sailor and there is no backup plan. The whole Potomac basin needs to be cleaned out and we need to start over again. Back to square one.
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