U.S. National Debt over the last Decade (2001 – 2011)

Here’s an interesting graph the WhiteHouse recently released in light of the August 2, 2011 Debt Ceiling increase deadline. Now we all know that the main result of getting into this mess was weak oversight. This didn’t just happen. We did this to ourselves. The recession along and reduction in spending by the US consumer alone amounts to 25% of the problem… tax cuts another 25% and so on… However, the waste in spending in DC alone needs to be further examined. The status quo cannot continue. That is what the Obama administration and Congress (Democrats, Republicans and Tea Partiers alike) – need to deal with today.

Debt Ceiling created by lack of management

Sure, we may be able to raise the debt ceiling, but what about future generations and managing what we do have today? Let’s pull together and make some tough decisions now before we’re back to where we are today.