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IPFS News Link • Economy - Economics USA

Running in the red: How the U.S., on the road to surplus, detoured to massive debt

• Washington Post

The nation’s unnerving descent into debt began a decade ago with a choice, not a crisis.

In January 2001, with the budget balanced and clear sailing ahead, the Congressional Budget Office forecast ever-larger annual surpluses indefinitely. The outlook was so rosy, the CBO said, that Washington would have enough money by the end of the decade to pay off everything it owed.


1 Comments in Response to

Comment by Powell Gammill
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Hey, did you hear Osama bin Laden was killed by US Special Forces? 

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