Wednesday, September 5, 2012
Debt. None of us like it. We all do what we can to keep it down, keep it under control. If we're in debt, we don't borrow more money, thinking that's a good way to reduce it. We don't keep spending more and more money thinking this is a good way to get out of debt. This president and his political party think the opposite when it comes to our national debt. Our Dear Leader has increased the debt over a $trillion a year since taking office, and next year another $trillion will be added. Six!!!! $trillion!!!!! in about five years!!! That's an increase of 51%! They say we need to keep spending at that rate to make things better.
If that were the case on a personal level, I'd stop paying rent and buy a $500,000 house (in
that a pretty big and luxurious house) and buy that Cadillac CTS, plus max out
my credit cards. Nevada
At the beginning of the Democratic Convention a couple days ago, we passed $16 Trillion national debt. Each of us, according to the US Treasury, now owe $51,874. That amount was $17,454 when Obama took office.
This is an increase to $4,073,237,142 per day!
As a percentage of the GDP, it has risen from 40% to an estimated 73% by the end of this year. We've seen what happens when it gets that high.
Greece, France, Spain,
Ireland, . They
are all collapsing. We are getting ever closer. This must must must must be reduced
to 20%. Portugal
These numbers come from the Treasury Department and the Congressional Budget Office.