Americans are increasingly confused about what the national debt is, and how it effects the economy, but that's no accident; we're being hoodwinked by politicians with a massive assist from the corporate media. Even worse, they're waving the deficit around like a shiny object to distract us from the really pressing issues facing our economy.
Here's some reality: according to the Congressional Budget Office, projected “budget deficits will drop markedly over the next few years” — falling by around two-thirds by 2014 (less so if the “Bush tax cuts” aren't allowed to expire as scheduled). This fact is not all over the news.
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