In 2007, the U.S. national debt was below $10 trillion, and the budget deficit was about $160 billion. Federal spending was about $3 trillion, and interest payments were approximately $400 billion.
Then the numbers spiraled out of control.
Washington’s Fiscal Mess Is Irresponsible, Unethical, Immoral: Former US Comptroller General
‘We’ve lost our sense of stewardship,’ David Walker said.
Former U.S. Comptroller General Hon. David M. Walker speaks at the Grand Hyatt New York, on September 19, 2016. Riccardo Savi/Getty Images
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
