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National debt hits $16 trillion
T

he Treasury Department said Tuesday that the national debt has now reached $16 trillion, or about $50,000 for every man, woman, and child in the U.S. The benchmark prompted a flurry of press releases from Republicans slamming President Obama for his fiscal stewardship, just as the Democrats kicked off their national convention. Obama has added about $4 trillion to the pile of debt incurred by his predecessor.

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