This milestone is not a reason for celebration. Fox News reports:

The national debt has passed the $18 trillion mark, sparking renewed criticism Tuesday from Republicans and other fiscal conservatives over the soaring trajectory of government spending under President Obama.

“This is a sad milestone for America,” Reince Priebus, chairman of the Republican National Committee, said Tuesday.

The debt was at $10.6 trillion when Obama took office in 2009 but has increased by 70 percent during his roughly six years in office.

“The national debt has skyrocketed by over $7.3 trillion,” Priebus said. “President Obama once said it was ‘unpatriotic’ and ‘irresponsible’ to add $4 trillion to the debt. By his own reasoning then, (he) has reached a new level of irresponsibility.”

The federal debt, which topped $18 trillion last week, is the sum of two numbers.

The first is $12.92 trillion in public debt, which consists of all the outstanding Treasury bills, notes and bonds held by individuals, corporations, foreign governments and others.

The second is the $5.08 trillion in so-called “intra-governmental” holdings, special securities held by U.S. government trust funds and special funds – or basically IOUs from the federal government for money that it “borrowed” from Social Security and Medicare.

Click here to read more from Fox News. And check out this video about the impact this kind of debt could have on our nation.

Is there anything we can do to keep this massive burden from the shoulders of our children and grandchildren? Yes.

The Founders knew this might happen, which is why they included the Convention of States option in Article V of the Constitution. A Convention of States allows the people — acting through their state legislators — to place real, enforceable spending limits on the federal government.

About The Author

Mark Meckler

Mark was a co-founder of the Tea Party Patriots, and served as the national coordinator. He left the organization to work more broadly on expanding the self-governance movement beyond the partisan divide. Mark appears regularly on television in outlets as diverse as MSNBC, ABC, NBC, Fox News, CNN, Bloomberg, Fox Business and the BBC. He’s highly sought after for the tea party perspective from print and electronic media outlets, from the Wall Street Journal, New York Times, L.A. Times, Washington Examiner, Politico and the The Hill. Mark blogs at MarkMeckler.com, and his opinion editorials regularly run in many of the leading political newspapers both on and offline. Mark has a BA in English from San Diego State University and graduated with honors from University of the Pacific, McGeorge School of Law in 1988. He practiced real estate and business law for almost a decade. For the last eleven years of his legal career he specialized in Internet advertising law. When not fighting for the future of our nation, Mark is an avid horseman, and lives in rural northern California with his wife Patty and two children.

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