Federal debt tops $13 trillion mark
Washington Times
June 2, 2010
"In the budget he submitted to Congress in February, the president acknowledged that his plans are not enough to reduce annual deficits to sustainable levels, which he said amounted to a yearly shortfall of 3 percent of gross domestic product. Mr. Obama called for a fiscal commission to make recommendations to close the gap, and commission members at their meeting last week said even that may not be enough. 'I think we've got to be more ambitious than that,' said Alice Rivlin, former director of the Congressional Budget Office. 'We really have to pick a trajectory that has the debt coming down. And there's probably no magic of whether it comes down 1 percent a year or 2 percent a year or whatever. But it's got to come down over time.'"
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