Debt and Deficits

Since the Last Senate Budget, U.S. Debt Climbed $5.5 Trillion

That's the D.C. brain trust at work

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If you want a sense of just how massive the nation's debt problem is, consider this: The U.S. added $226 billion in new debt in just the 35 days since President Obama missed the legal deadline to submit his budget.

That's more than the government will spend this year on education, homeland security, law enforcement, housing aid, energy and the environment, combined.

A 1921 law requires the president to submit his budget plan to Congress on the first Monday in February, but Obama so far hasn't produced one, and the White House says it won't release its plan to get the nation's deficits and debt under control until sometime in April.

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