The national debt has hit $9 trillion for the first time.(Source: Albuquerque Journal, November 8, 2007)
The Treasury Department, which issues a daily accounting of the debt, said Wednesday that the debt subject to limit was at $9 trillion on Tuesday. It was $8.996 trillion on Monday.
Last month, Congress passed and President Bush signed into law an increase in the government's borrowing ceiling to $9.815 trillion. It was the fifth debt limit increase since Bush took office in January 2001. Those increases have totaled $3.865 trillion.
Now correct me if I'm wrong, but wasn't the budget balanced before Bush took office? And remind me again how much money we spend daily on the war in Iraq?