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Our Debt Now EQUALS Our GDP

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Bloviating Zeppelin: Our Debt Now EQUALS Our GDP

Bloviating Zeppelin

(in-ep-toc'-ra-cy) - a system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.

Tuesday, January 10, 2012

Our Debt Now EQUALS Our GDP


As everyone else frets about who can spew Attack Vomit from one GOP contender to another, I'd instead care to direct your attention to an incredible fact.

Clearly, one thing you will NOT hear trumpeted by the DEM/MSM -- and everyone "in the tank" for Barack Hussein Obama:

From USA Today:

WASHINGTON – The soaring national debt has reached a symbolic tipping point: It's now as big as the entire U.S. economy.

The amount of money the federal government owes to its creditors, combined with IOUs to government retirement and other programs, now tops $15.23 trillion.

That's roughly equal to the value of all goods and services the U.S. economy produces in one year: $15.17 trillion as of September, the latest estimate. Private projections show the economy likely grew to about $15.3 trillion by December — a level the debt is likely to surpass this month.

So whilst Mitt attacks Rick attacks Newt attacks Jon attacks Rick, the IMPORTANT things get shuttled aside.

40% of persons polled portray themselves as CONSERVATIVE. 30% of those polled portray themselves as REPUBLICAN. That's called a CLUE to you, GOP.

Which is primarily why I no longer contribute to the GOP or any formally-linked GOP site. I write my checks to specific individuals. You know who you are.

From KnickLedger.com:
The debt of the U.S. now equals the total gross domestic product (GDP) of the country, U.S. Treasury figures show.

Treasury reported an increase of $238 billion of new debt immediately after President Obama signed the debt ceiling increase into law.

New borrowing now is at $14.58 trillion, over last year’s GDP of $14.53 trillion – putting the U.S. into the same classification of other indebted nations such as Italy and Belgium. Public debt is now $14.53 trillion, rising from a previous cap of $14.29 trillion on Monday.

We're spiraling DOWN.

Why can't you GOP potentials focus like a LASER BEAM on the subject of your PURPOSE?

Barack HUSSEIN Obama.

Hello?

DEBT now = GDP?

Hello?

Anyone listening??

BZ

2 Comments:

Blogger Old NFO said...

This is truly NOT good for the USA...

Tue Jan 10, 03:22:00 AM PST  
Blogger Well Seasoned Fool said...

Soon the debt service (interest) will exceed GDP.

Tue Jan 10, 06:46:00 AM PST  

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