Everyone knows the federal budget deficit is large and getting larger all the time. It's out of control, right? Well, what everyone knows and what's the truth sometimes bear little resemblance to one another. In
fact, the federal budget deficit has been plunging in recent years, falling from nearly 10 percent of G.D.P. in 2009 to less than 3 percent in 2014,
below the average experienced over the past 40 years. So much for what everyone knows.
Let's bring the discussion closer to home. What about the situation in the City of Richardson? After the jump, a look at what our community owes.