Our $100 Trillion National Debt
Monday, August 04, 2008
By Terence P. Jeffrey, Editor-in-Chief
Rep. Paul Ryan (R-Wis.)
(CNSNews.com) - The ranking Republican on the House Budget Committee said the U.S. government is headed toward bankruptcy if it stays on its current fiscal course.
“We know that for a fact,” Rep. Paul Ryan (R-Wis.) told CNSNews.com in a video interview. “All the actuaries, all the objective scorekeepers of the federal government, are predicting this.”
To back up this claim, Ryan cited an estimate by the non-partisan Government Accountability Office that says the government faces a $53-trillion shortfall to cover the costs of promised benefits in its entitlement programs.
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