Leap in U.S. debt hits taxpayers with 12% more red ink

Taxpayers are on the hook for an extra $55,000 a household to cover rising federal commitments made just in the past year for retirement benefits, the national debt and other government promises, a USA TODAY analysis shows.

The latest increase raises federal obligations to a record $546,668 per household in 2008, according to the USA TODAY analysis. That’s quadruple what the average U.S. household owes for all mortgages, car loans, credit cards and other debt combined.

Leap in U.S. debt hits taxpayers with 12% more red ink – USATODAY.com

This dealer says there was no rhyme or reason to the closings that he can see…. His dealership was making a good profit, which contradicts the argument that only the dealerships in the bottom 25% were supposed to close:

Payback Time: Review Finds Closing Chrysler Dealerships Were Republican Donors « Nice Deb

As responsible members of Congress spend time in their districts, listening to their constituents’ views on health care reform, those leaders trying to force a government-run health care system on the American people are trying to downplay the costs and criticisms of their plan.

Conservatives for Patients’ Rights

TEHRAN, Iran (AP) – President Mahmoud Ahmadinejad said Iran test-fired a new advanced missile Wednesday with a range of about 1,200 miles, far enough to strike Israel, southeastern Europe and U.S. bases in the Middle East.

My Way News – Iran says it tests missile, Israel within range

“The case against Nancy Pelosi remaining Speaker of the House is as simple as it is devastating: The person who is No. 2 in line to be commander in chief can’t have contempt for the men and women who protect our nation. America can’t afford it,” Gingrich writes. “Speaker Pelosi has damaged America’s safety. . . . America is losing ground because of Nancy Pelosi’s contempt for those who defend her. Democrats owe it to their country and our national security to replace Nancy Pelosi as Speaker of the House.”

Gingrich: Pelosi ‘Disqualified Herself’ From Being Speaker – The Note

The White House and Democrats have been thrown off balance for three weeks running on a debate Republicans believe has made their opponents look weak and disingenuous on national security policy. The broader terrorism debate has produced the most embarrassing chapter of the reign of House Speaker Nancy Pelosi (D-Calif.), and the more specific one on Gitmo has produced a rare Democratic slap at an Obama policy.

Barack Obama, Dick Cheney plan dueling speeches – Mike Allen and Jim VandeHei – POLITICO.com

Yesterday, the Trustees of the Social Security program released their annual report. The recession has taken a toll on the program’s finances: the system will run deficits beginning in 2016 rather than 2017 and the program’s trust fund will run out in 2037 rather than 2041.  Due to the recession and to faster-than-expected increases in life expectancies, the long-term 75-year deficit increases from 1.7 percent of payroll to 2.0 percent of payroll. That’s an 18 percent increase in the long-term deficit, which is a pretty big deal.

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