Saturday, January 28, 2012

Explaining US Government Spending

Please send this video to anyone who has trouble understanding our government's finances.  Zero Hedge explained the government debt ceiling raise in simple terms:

"The US debt ceiling was raised to $16.394 trillion this week, a number which will be breached before the end of the year, and possibly before the presidential election in November. As a reminder, in 2011, the US economy grew by 1.7%. It almost, but not quite, offset the growth of US debt held by the public, which grew at a brisk 11.3% pace in the past year."