US Debt Poised to Surpass Size of US Economy

This is a very sobering (and frightening) article about the national debt, “which is on track for a record federal deficit and will see the government’s overall debt surpass the size of the total U.S. economy . . . Mr. Obam’s budget projects that 2011 will see the biggest one-year debt jump in history, or nearly $2 trillion, to reach $15.476 trillion by Sept. 30, the end of the fiscal year. That would be 102.6 percent of GDP – the first time since World War II that dubious figure has been reached.”  Check out the full article at The Washington Times.

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One Response to US Debt Poised to Surpass Size of US Economy

  1. Nacilbupera says:

    President Obama’s budget proposal makes clear his flip-flopped support for raising the debt ceiling. Furthermore, Obama has projected future rosy growth to limit future budget deficits. It seems then according to Obama’s own budgets whether we’re in a recession or growing 5% per annum, Obama cannot plan ANY budget less than Bush’s deficits. If Bush was bad at deficits, Obama is an abomination.

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