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American Memory
March 15, 2005
Deficits Make You Poorer by Rep. Ron Paul
Most Americans are vaguely aware that Congress has run up huge deficits in recent years, but the numbers involved are so large that it’s hard to grasp what our government’s indebtedness really means to us as individuals. The total federal debt is quickly approaching $8 trillion, courtesy of an administration that borrows roughly one billion dollars every day to pay its bills.
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