Forgive Us Our Debts

While President Bush spends the day trumpeting the decline in the annual federal deficit for the fiscal year that ended September 30th, he mentions not a word about the National Debt.

While the size of the deficit has declined over the last few years, not so the National Debt.

On the day President Bush took office it was $5.727 trillion.

As of today, the National Debt stands at $8.546 trillion.

That's a 49.2% increase on his watch.

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    Mark Knoller is a CBS News White House correspondent.