Drowning in Debt: What the Nation's Budget Woes Mean for You

American political and economic leaders have sounded the alarm for years about the red ink rising in reports on the federal government's fiscal health. But now the problem of mounting national debt is worse than it ever has been before with -- potentially dire consequences for taxpayers, according to a report by the nonpartisan Peterson-Pew Commission on Budget Reform. "It keeps me awake at night, looking at all that red ink," said President Obama in Nashua, N.H., on Feb. 2. "Most of it is...Full Story
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