Effects On National Debt
The United States annual budget deficit for fiscal year 2009 surpassed $1 trillion. The original Paulson proposal would lift the United States federal debt ceiling by $700 billion, to $11.3 trillion from the current $10.6 trillion.
Read more about this topic: Emergency Economic Stabilization Act Of 2008
Famous quotes containing the words effects, national and/or debt:
“Trade and commerce, if they were not made of India-rubber, would never manage to bounce over the obstacles which legislators are continually putting in their way; and, if one were to judge these men wholly by the effects of their actions and not partly by their intentions, they would deserve to be classed and punished with those mischievous persons who put obstructions on the railroads.”
—Henry David Thoreau (1817–1862)
“Mr. Speaker, at a time when the nation is again confronted with necessity for calling its young men into service in the interests of National Security, I cannot see the wisdom of denying our young women the opportunity to serve their country.”
—Lyndon Baines Johnson (1908–1973)
“Ambition’s debt is paid.”
—William Shakespeare (1564–1616)