Obama has climbed that mountain. Sooner than the nation had hoped.
The eye-popping national debt surpassed $11 trillion Monday, the largest in U.S. history.
The new Treasury Department figures on the national debt were released as the non-partisan Congressional Budget Office is expected to project that the annual budget deficit will be higher than previously estimated by the White House’s Office of Management and Budget. The debt, which refers to the cumulative amount of money the government owes, hit $10.9 trillion on Friday.
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Sen. Kent Conrad (D-N.D.), chairman of the Budget Committee, said Tuesday that the numbers could force Congress to make “adjustments” to Obama’s $3.6 trillion budget plan.
Yeah, the budget will be cut back to $3.2 trillion instead. Because Congress is looking out for you.
It depends on how you look at it. At the peak of a high mountain or in the bottom of a deep valley.