President Obama’s Unprecedented Debt

Posted June 5th, 2009 at 6.10pm in Entitlements.

The national debt is skyrocketing. In 2009 publicly held debt is projected to jump to 54.8 percent of GDP, up from 40.8 percent in 2008. A year to year increase of this size hasn’t occurred since World War II. While the main causes of this massive increase – $787 trillion economic “stimulusâ€