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Don't Look Now But Our Debt Is Getting Worse

Recorded on March 24, 2012

From The Heritage Foundation, I'm Ernest Istook.

No matter how deep in debt you might be, it could be worse.

You could be Uncle Sam.

During the eight years of George W. Bush's presidency, our national debt increased by $4.89-trillion. That's bad. But in only three years of Barack Obama's presidency, our national debt has incrased by more, namely $4.93-trillion.

Debt is piling up at more than twice the rate of the previous Presidency. And the full costs of Obamacare still have not kicked in.

If the Supreme Court declares that health care law unconstitutional, at least Obamacare won't be making spending worse, but we'd still have runaway spending across most of the federal government. In only one significant area is Obama trying to cut back, but unfortunately that's national defense. So not only are we deeper in debt, but we're also becoming less safe.

From The Heritage Foundation, I'm Ernest Istook.