President Obama recently said, One hundred days ago, in the midst of the worst economic crisis in half a century, we passed the most sweeping economic recovery act in history…One hundred days later, we are already seeing results.” President Obama is right: In the last one hundred days, the U.S. economy has lost over 2 million jobs. The President inherited a recession and a huge budget deficit. Finding the deficit not yet huge enough, he argued for a lot more, pushing the total toward $2 trillion and putting the United …
There is a lot of information about the national debt, but misconceptions cloud the debate. There are five common misconceptions about the national debt. This video explains them, as well as why they are not accurate guides to measure the debt. Heritage’s Brian Reidl also mentions the real threat to the National Debt – unfunded entitlement programs. Reidl closely examines the myths on how the debt was created, and what can be done to reduce the burden. [youtube]http://www.youtube.com/watch?v=YabLqJ0RwPQ [/youtube]
