As the year 2011 draws to a close, it seems that, if there was one word that has defined this year, that word would be "DEBT". Everywhere we turn, we are bombarded with the word, Local governments are finding themselves mired in debt as a result of their free-wheeling spending during the late-1990's and early 2000's and the reductions in ad valorem tax receipts that have resulted from the bursting of the real estate bubble. Most states are facing debt crises; especially those that have historically been led by liberals - states such as California, New York, and Illinois. We need not even mention (but we will) the nation's $15 trillion debt - a sum that boggles the mind of those capable of comprehending the magnitude thereof and one that carries little meaning to the rest.