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July 17, 2011

the national debt as a percentage of gross domestic product has increased from a manageable 40 percent in 2008 to 62 percent this year and an estimated 72 percent in 2012. And it’s headed to the 90 percent level that economists Kenneth Rogoff and Carmen Reinhart have identified as the danger point, when governments face fiscal collapse.

Read more at the Washington Examiner: http://washingtonexaminer.com/politics/2011/07/federal-expansion-real-issue-debt-ceiling-debate#ixzz1SNghDRbi

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