National Debt exceeds GDP

Discussion in 'Economy' started by Lumpy 1, Jan 9, 2012.

  1. Lumpy 1
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    Lumpy 1 Diamond Member Supporting Member

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    Sheesh .. this is hardly a good sign to me but alas Obama/Democrats push for even more national debt..:cuckoo:

    I'm thinking we are screwed...so Democrats/Obamanomics fans, explain how this is a good thing..

    -------------------------:puke3:

    Fiscal watchdogs and Republican lawmakers are expressing dismay at new figures showing the U.S. debt has now exceeded the nation's economic output, a threshold used by President Obama's fiscal commission in 2010 to warn that massive federal deficit spending would sink the U.S. economy.

    According to the Bureau of Economic Analysis, the U.S. gross domestic product reached $15.17 trillion at the end of the third quarter 2011. That number is higher today, though a formal report on fourth quarter 2011 growth still has yet to be released. But with the national debt currently at $15.23 trillion and set to go up with the president's latest debt ceiling increase, the 100 percent GDP-to-debt threshold has been reached.

    Republicans Blast Obama After National Debt Surpasses Economic Output | Fox News
     
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    Last edited: Jan 9, 2012
  2. Lumpy 1
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    Lumpy 1 Diamond Member Supporting Member

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    chirp.. chirp..chirp

    Seems really really quiet...:eusa_think:
     
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  3. Mr. H.
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    Mr. H. Diamond Member

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    Let's all do our part to add to the GDP.
    If D.C. refuses to reduce the debt, then it's up to us to add some real, hard economic activity to the mix.
     
  4. Mr. H.
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    Mr. H. Diamond Member

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    We can always talk owls.
    Took this picture Saturday in West Alton, Mo.

    [​IMG]
     
  5. Lumpy 1
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    Lumpy 1 Diamond Member Supporting Member

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    Well okay .. There's a small owl that seems to like spending the morning and part of the day in my gazebo. I would mind so much, he's kinda cute, but he poops all over my hot tub cover.
    I've named him Harley...
     
  6. The Infidel
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    The Infidel EVIL CONSERVATIVE

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    [ame=http://www.youtube.com/watch?v=K8E_zMLCRNg]Cricket Sound - YouTube[/ame]
     
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  7. Intense
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    Intense Senior Member

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    How long has it been since Bush was blamed for Anything?
     
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  8. Mr. H.
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    Mr. H. Diamond Member

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    When we lived in the country/boondocks there was a creek that ran across the gravel road, about 1/3 mile from the house.

    Late one night I was driving across the partially submerged road when out of nowhere a HUGE all-white owl swooped towards me and hovered for a moment. It was freaky and beautiful at the same time.

    Wife said it was some kind of sign. I'll never forget that image.
     
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  9. Intense
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    Intense Senior Member

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  10. Lumpy 1
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    Lumpy 1 Diamond Member Supporting Member

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    :lol:...I had considered blaming Bush pre-emptively but figured, what the heck, I wanted some sorta response.
     

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