Today President Obama laid out his $3.8 trillion budget for next year.
According to a CNN article today, the president plans to reduce the country’s debt by $1.2 trillion over the next ten years. The article states “Specifically, he outlines a plan to reduce the nation's debt by $1.2 trillion over the next 10 years, and to get annual deficits as a percent of the economy down from 10.6% today, to 3% by 2015.”
But what’s surprisingly true is that when there is a deficit, there will be more added to the nation’s debt. This is not a plan reduce, but a plan to increase the debt.