National Debt reaches $8,000,000,000,000 (8 trillion dollars)

[SinCityGuy]

[ QUOTE ]
Bingo, its a global economy now, unless our debt becomes extremly high nothing to worry about.

[/ QUOTE ]

That's not true, and that cavalier attitude has been persistent during the "tax cut and spend" years of Reagan, George H. W. Bush and George W. Bush.

Part of the annual budget is a mandatory payment of the interest on the national debt. Obviously, the higher the national debt, the higher the mandatory payment on the interest, which diverts money from infrastructure, national defense, education, and a host of other necessities.