‘Our kids are counting on us’: Why a balanced budget amendment must be enacted to curb the growing national debtGovernor Scott Walker
By Scott Walker (Original source Washington Times)
That’s the share of the federal debt inherited by every child born today in America.
When I was born in 1967, my share of the national debt was $1,640. Back then, the national debt was $326 million. That was about 38 percent of the national economy (as measured by Gross Domestic Product).
By 2008, when Barack Obama was elected as the 44th president, the national debt had grown to $10 trillion. That was 68 percent of the national economy.
Eight years later, the national debt nearly doubled to $19.6 trillion. That was an eye popping 104 percent of the our national economy. Yes, you read that right — our debt is more than the overall economy in America.”
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