Congress Hears Dire News on National Debt
Treasury officials told Congress that the government needed to increase the $8.2-trillion national debt by another $781 billion to meet expenses.
“During this administration, America’s debt, that is the total of the deficits, has increased by $3 trillion,” said Sen. Max Baucus of Montana, the top Democrat on the Finance Committee. “That’s a 40% increase in the entire federal debt accrued by our country in its entire history.”
Senate Majority Leader Bill Frist (R-Tenn.) was expected to bring up the debt increase legislation just before Congress leaves March 17 for a weeklong recess -- when lawmakers are itching to go home and not likely to pontificate at length.
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