“Between 2009 and 2012, the federal government recorded the largest budget deficits relative to the size of the economy since 1946″
They wouldn’t have to raise the debt ceiling unless it was going to be the largest debt ever.
WHAT YOU OWE
$16.699 trillion current debt ceiling
316,809,000 people in the USA
$52,709.99 the amount every person owes (the largest of all time)
“I’ve reviewed the Treasury Department watchdog’s report, and the misconduct that it uncovered is inexcusable,” he said. “It’s inexcusable, and Americans are right to be angry about it, and I am angry about it. I will not tolerate this kind of behavior in any agency, but especially in the IRS, given the power that it has and the reach that it has into all of our lives. And as I said earlier, it should not matter what political stripe you’re from — the fact of the matter is, is that the IRS has to operate with absolute integrity. The government generally has to conduct itself in a way that is true to the public trust. That’s especially true for the IRS.”
The President laid out a series of steps aimed at holding the responsible parties accountable and putting new safeguards in place to prevent future issues.