Fiscal cliff: Where did the debt come from?

October 24, 2012

As the U.S. moves closer to the impending fiscal cliff and the debt ceiling is expected to be raised once again, a partisan fight grows as to where the blame lies for the deficit.

Michael Linden, director of tax and budget policy at the Center for American Progress, explains how the United States went from having a balanced budget and a projected surplus in the trillions to a debt that has now exceeded $6 trillion over the course of 10 years. 

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Allen McDuffee · October 24, 2012