Page 8 - Growing Debt News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Path, our growing debt could cost us jobs and do serious damage to the economy. more of our tax dollars will go to paying off the interest on our loans. businesses will be less likely to open up shop and hire workers in a country that can't balance its books. interest rates could climb for everyone who borrows money. the homeowner with the mortgage, the student with a college loan, the corner store that wants to expand. and we won't have enough money to make job creating investments in things like education and infrastructure, or pay for vital programs like medicare and medicaid. because neith...

In the year 2000, the government had a budget surplus, but instead of using it to pay off our debt, the money was spent on trillions of dollars in new tax cuts while two wars and an expensive prescription drug program were simply added to our nation's credit card. as a result, the deficit was on track to top $1 trillion the year i took office. to make matters worse, the recession meant that there was less money coming in, and it required us to spend even more on tax cuts for middle class families to spur the economy, on unemployment insurance, on aide to states so we could prevent more teacher...

Happens. the markets, and we don't know, could react very negatively if no progress is made this weekend to the idea that they can't get it together, that default, which i think the markets had just assumed wasn't going to happen, could happen. and that a serious debt swing at our growing debt might not happen. i mean, this -- there could be a lot riding on what happens this weekend. >> yes. one of the things the dog that hasn't bark sod far is the markets. they have been serene, almost complacent about this on the theory that it's so obviously a bad thing not to raise the debt ceiling that it...

Government had a budget surplus. but, instead of using it to payoff our debt the money was spent on trillions in new tax cuts. two wars and an expensive prescription drug program were added to our nation's credit card. as a result, the deficit was on track to top one trillion dollars the year i took office. to make matters worse, the recession meant there was less money coming in and it required us to spend even more. on tax cuts for middle class families to spur the economy, on unemployment insurance. on aid to states so we could prevent teamers, firefighters and police officers from being la...

For the last decade we've spent more money than we take in. in the year 2000, the government had a budget surplus. but, instead of using it to payoff our debt the money was spent on trillions in new tax cuts. two wars and an expensive prescription drug program were added to our nation's credit card. as a result, the deficit was on track to top one trillion dollars the year i took office. to make matters worse, the recession meant there was less money coming in and it required us to spend even more. on tax cuts for middle class families to spur the economy, on unemployment insurance. on aid to ...