Here is the bulk of Terry Jeffrey’s May 5 CNSNews.com article:
Uncle Sam’s Latest Line of Credit: $1,888,174,000,000.00 Spent Out of $1,900,000,000,000.00
Of the $1,900,000,000,000.00 increase in federal borrowing authority approved by President Barack Obama and Congress last February, the federal government now has just $11.826 billion left, according to the U.S. Treasury. The other $1,888,174,000,000.00 has been borrowed and spent.
As of the close of business on Wednesday, the federal debt subject to the legal limit equaled $14,282,174,000,000.00. The debt limit–set in a law signed by President Obama on Feb. 12, 2010–is $14,294,000,000,000.00.
The $1,888,174,000,000.00 in new debt the government has accumulated just since Feb. 12, 2010, equals $16,064 for every household in the United States (based on the Census Bureau’s estimate of 117,538,000 households in the country).
There’s no journalistic reason to substitute “trillion” for the series of zeroes Jeffrey chooses to use. That’s a political judgment done solely to illustrate CNS’ right-wing, anti-Obama agenda.
And Lachlan Markay wonders why CNS gets pegged as “conservative activists” instead of journalists. (Hint: It’s because that’s what they are.)
Here is the bulk of Terry Jeffrey’s May 5 CNSNews.com article:
Uncle Sam’s Latest Line of Credit: $1,888,174,000,000.00 Spent Out of $1,900,000,000,000.00
Of the $1,900,000,000,000.00 increase in federal borrowing authority approved by President Barack Obama and Congress last February, the federal government now has just $11.826 billion left, according to the U.S. Treasury. The other $1,888,174,000,000.00 has been borrowed and spent.
As of the close of business on Wednesday, the federal debt subject to the legal limit equaled $14,282,174,000,000.00. The debt limit–set in a law signed by President Obama on Feb. 12, 2010–is $14,294,000,000,000.00.
The $1,888,174,000,000.00 in new debt the government has accumulated just since Feb. 12, 2010, equals $16,064 for every household in the United States (based on the Census Bureau’s estimate of 117,538,000 households in the country).
There’s no journalistic reason to substitute “trillion” for the series of zeroes Jeffrey chooses to use. That’s a political judgment done solely to illustrate CNS’ right-wing, anti-Obama agenda.
And Lachlan Markay wonders why CNS gets pegged as “conservative activists” instead of journalists. (Hint: It’s because that’s what they are.)