Today: National Debt 100% of GDP

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

  1. tenthertoo
    Offline

    tenthertoo ...worst of all I'm DULL

    Joined:
    Dec 30, 2011
    Messages:
    221
    Thanks Received:
    19
    Trophy Points:
    51
    Location:
    Deep South
    Ratings:
    +19
    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
    Online

    RetiredGySgt Platinum Member

    Joined:
    May 6, 2007
    Messages:
    39,569
    Thanks Received:
    5,902
    Trophy Points:
    1,140
    Location:
    North Carolina
    Ratings:
    +8,988
    Meanwhile not only won't the democrats get serious about cuts they want to spend MORE.
     
  3. g5000
    Offline

    g5000 Diamond Member

    Joined:
    Nov 26, 2011
    Messages:
    56,168
    Thanks Received:
    9,359
    Trophy Points:
    2,030
    Ratings:
    +24,618
    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
    Online

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    81,258
    Thanks Received:
    14,919
    Trophy Points:
    2,210
    Ratings:
    +37,053
    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
    Online

    RetiredGySgt Platinum Member

    Joined:
    May 6, 2007
    Messages:
    39,569
    Thanks Received:
    5,902
    Trophy Points:
    1,140
    Location:
    North Carolina
    Ratings:
    +8,988
    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
    Offline

    WatertheTree Senior Member

    Joined:
    Sep 9, 2011
    Messages:
    1,804
    Thanks Received:
    167
    Trophy Points:
    48
    Ratings:
    +167
    Neither will the republicans. Ron Paul is the only one with any common sense.
     
  7. g5000
    Offline

    g5000 Diamond Member

    Joined:
    Nov 26, 2011
    Messages:
    56,168
    Thanks Received:
    9,359
    Trophy Points:
    2,030
    Ratings:
    +24,618
    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
    Online

    RetiredGySgt Platinum Member

    Joined:
    May 6, 2007
    Messages:
    39,569
    Thanks Received:
    5,902
    Trophy Points:
    1,140
    Location:
    North Carolina
    Ratings:
    +8,988
    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
    Offline

    WillowTree Diamond Member

    Joined:
    Sep 15, 2008
    Messages:
    68,166
    Thanks Received:
    10,168
    Trophy Points:
    2,030
    Ratings:
    +14,732
    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
    Online

    RetiredGySgt Platinum Member

    Joined:
    May 6, 2007
    Messages:
    39,569
    Thanks Received:
    5,902
    Trophy Points:
    1,140
    Location:
    North Carolina
    Ratings:
    +8,988
    Democrats had 4 YEARS to get rid of both. Funny how they did not do it.
     

Share This Page