National Debt Reaches $25 Trillion Under Obama Budget


by The Heritage Foundation on Mar 4, 2014 | Views: 102 | Score: 0
Sources: whitehouse.gov
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The Heritage Foundation
The Heritage Foundation on Mar 4, 2014 8:19 AM said:

If President Obama’s FY 2015 budget became law, the national debt would reach $25 trillion by 2024, despite massive tax increases. This debt would consist of $19 trillion borrowed in credit markets (public debt) and $6 trillion borrowed from government agencies (intragovernmental debt).