I know that you can't trust everything that you read. But I do think that the Wall Street Journal is a credible source on a subject such as this. Not that my Magic 8-Ball would lie to me. I just thought it would be a good idea to seek a second opinion :P
Yes, the Debt is growing all the time, but the amount we add to it each year (the deficit: how much the govt. Spends over how much it takes in in a year) has been shrinking. The last time the Debt was being reduced was during Bill Clinton's surplus years.
At least it has been for the past 4-5 years.
NPR has the following article which seems to support this:
and MSNBC just posted this today:
The public certainly doesn't believe it to be true, in general, and I've seen web sites which post contrary information, but the majority of the articles I've seen when searching in Google news on this topic seem to indicate that the deficit has been shrinking since roughly 2010.
Most sites I've read seem to agree, however, that this trend will change in 2016.
The federal deficit is at nearly $17 trillion and counting; in four years it's projected to soar to nearly $25 trillion under Obama. The Fed is pouring money into the economy by printing it wildly and holding interest rates at record low levels under "QE". When interest rates start rising as they must, the interest on the debt goes up with it, and the economy could go under fairly quickly if and when that happens, we will be suffocated by the government's debt.
The deficit is not only shrinking - it's practically exploding. The amount that the deficit has grown in the last 4 years of our current president is equal to the amount that the deficit grew during the terms of all previous presidents before him. And we're requesting that our debt ceiling be raised. Our deficit is so high, that we've reached the limit that it was supposed to get to, and now we've requested to surpass that. It's too high, going higher, and not even close to beginning to shrink.
No, there is no evidence to support a shrinking federal deficit, and unfortunately the deficit is only growing at this point. The President and Congress have done absolutely nothing to cut spending and have instead taken the alternative and added to the deficit, and it continues to worsen on a daily basis.
The numbers state that the deficit is growing every day because of many factors. If I balanced my checkbook the way the government balances the budget, I would be in jail. The government needs to quit extending the debt ceiling and start with making the rich pay taxes, instead of a million loopholes for them to get out of paying taxes!
The federal deficit isn't shrinking because the poor people in this country are paying the most for everything and to supplement the lost of money form high taxes they have to use the free medical and food services that are keeping the US in debt. If the rich paid the same percentage are more in taxes the some of the load could be lighten on poor Americans and they could afford things like groceries and health insurance