Data from the Office of Management and Budget’s FY2012 budget shows that 43 cents of every dollar spent in 2011 is borrowed. This fact alone propels our current fiscal state further along the historical trend of budgetary deficits. As the critical debate over the debt ceiling continues, the amount of spending that is borrowed should be put in proper perspective. This makes all the difference in addressing the underlying habits driving our current deficit.
From the Mercatus Center and produced by Veronique de Rugy