American Thinker Blog: Ratcheting to Ruin

The nation's debt leapt $166 billion in a single day last week, the third-largest increase in U.S. history, and it comes at a time when Congress is balking over higher spending and debt has become a key policy battleground.

The one-day increase for June 30 totaled $165,931,038,264.30 - bigger than the entire annual deficit for fiscal year 2007 .... The figure works out to nearly $1,500 for every U.S. household, or more than 10 times the median daily household income.