US National debt now sits at $15.3 trillion. In 2008, the national debt sat at $10 trillion. Within three years, the government under the Obama administration is responsible for 1/3 of the debt all by itself.
According to current estimates, the government with its debt and unfunded liabilities, the US owes $120 trillion. Unless something happens and the spending stops, the US may find itself unable to pay its bills.
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