Today: National Debt 100% of GDP

Discussion in 'Politics' started by tenthertoo, Jan 9, 2012.

  1. tenthertoo
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    tenthertoo ...worst of all I'm DULL

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    Pardon me if posted already - didn't see it
    "As of Jan. 3, the national debt totaled $15.186 trillion, slightly more than 100% of the gross domestic product, a figure that the Congressional Budget Office in 2010 forecast wouldn't be reached until beyond 2020." Congress, resolve to fix deficit and debt - InvestmentNews

    The end is coming.
     
  2. RetiredGySgt
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    RetiredGySgt Diamond Member

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    Meanwhile not only won't the democrats get serious about cuts they want to spend MORE.
     
  3. g5000
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    g5000 Diamond Member

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    It took a lot of hard bipartisan effort to achieve this milestone. Too bad both sides are too big a bunch of titty babies to put the same effort into working together to eliminate the debt.

    We will get away with our debt being this large just as long as the rest of the world's economies are worse than ours. US Treasuries are still the preferred flight-to-safety instruments.

    That says a lot about how bad things everywhere really are.
     
  4. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Record debt, deficits, first ever downgrade and Obama is saying he needs one more term to "finish the job"

    What do you suppose he means?

    [​IMG]
     
  5. RetiredGySgt
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    RetiredGySgt Diamond Member

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    And yet for 3 YEARS the Republicans have tried to cut the budget. 5 if you count 2007 and 2008. And what have the dems done? Demanded more money to spend we don't have. Refused to actually discuss cuts. It is pretty clear who spent the last 5 trillion over our means. And 2 trillion of the 6 Bush supposedly spent were under a full on Democratic Congress.
     
  6. WatertheTree
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    WatertheTree Senior Member

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    Neither will the republicans. Ron Paul is the only one with any common sense.
     
  7. g5000
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    g5000 Diamond Member

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    I can't take anyone seriously who believes the Party that brought us the new Department of Homeland Security and Medicare Part D wants to cut spending and a smaller government.
     
  8. RetiredGySgt
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    RetiredGySgt Diamond Member

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    I guess you were asleep as bill after bill cutting Government spending was passed by the house and never even looked at by the Senate. Right?
     
  9. WillowTree
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    WillowTree Diamond Member

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    They're gonna raise that debt ceiling by 1.2 trillion just as soon as they get back from playtime. yep.. "the adults are in charge" all rightty..
     
  10. RetiredGySgt
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    RetiredGySgt Diamond Member

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    Democrats had 4 YEARS to get rid of both. Funny how they did not do it.
     

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