by Alison Acosta Fraser, J.D. Foster
The Heritage Foundation
June 18, 2013
Federal government debt has nearly doubled since President Barack Obama took office and is projected to increase 50 percent over the next decade—and then rise rapidly thereafter—under existing policies. As federal debt has soared, so have concerns about America’s future. Used properly, debt can safely finance private and government investment in productive capital to support economic growth. But too much debt can ruin a family, a business, or a nation.