Our Massive Sinking Hole

How bad is the nation’s financial situation? Consider these facts: Last week, Congress passed yet another continuing resolution to keep the government going. Congress cut $6 billion from the budget.

CNS put that cut into context:

If Congress were to cut $6 billion every three weeks for the next 36 weeks, it would manage to save between now and late November as much money as the Treasury added to the nation’s net debt during just the business hours of Tuesday, March 15.

Just during the business hours? Wow. These numbers are simply staggering. At some point, we need to address our massive debt and deficit. If we don’t take action, the markets will.

Posted by on March 21st, 2011 at 6:28 am


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