The national debt is now about $16.3 trillion. It won’t be long until it’s over $20 trillion. The kabuki theater of the fiscal cliff negotiations is laughable. Stuart Varney weighed in, saying “This president does not want to cut a penny from anything.” Varney is right, and says maybe it would be better to just go over the cliff, because the deal proposed by Obama really stinks. Earlier today I heard that the national debt comes to $140,000 per US household. What will that number be when the debt is at $20 trillion, or $25 trillion?
Speaking of the fiscal cliff and tax hikes, during his noon press conference on gun control, President Obama used the massacre at Sandy Hook to try to push Republicans into agreeing to his demands. I guess it’s not surprising seeing that his campaign is raising funds off the tragedy.