Report projects $44 trillion debt
May 30th, 2003
According to the Financial Times,
The Bush administration has shelved a report commissioned by the Treasury that shows the US currently faces a future of chronic federal budget deficits totalling at least $44,200bn in current US dollars.
This figure is apparently 94% of all US household assets. That’s some scary stuff. This makes the government sound like a dot com. Next thing you know, Bush will be calling for Aeron chairs for everyone in the country.
