Debt as % of GDP Hits Post WW2 High

[Islandborn]

From The Congressional Budget Office

CBO says debt will reach 62 percent of GDP by year's end - The Hill's Blog Briefing Room

This falls SQUARELY on the shoulders of the Democrats and their four year SPENDING SPREE. Thanks to falling revenues from an economy showing NO signs of significant growth and runaway federal expansion, US debt compared to GDP will rise to a high not seen since the US vanquished Japan & Nazi Germany 65 years ago.

Thats an added growth in spending of about a trillion dollars over the next 3 years......not to mention the Democrats have now REFUSED to produce a budget for 2011. Furthermore, the entire Obamacare debacle hasnt done a thing to reduce real pressure on future debt.

And here is an tid-bit from the head of the Congressional Budget office
Director's Blog » Blog Archive » Long-Term Budget Outlook

Uhhhhhhhhhhhh, wasn't the entire EXPRESSED POINT of Obamacare to REDUCE deficits by lowering healthcare costs?? Instead....OBAMACARE has made it worse......as predicted over and over and over.

Helluva Job Obama......Helluva job indeed

Islandborn Reviewed by Islandborn on 06-30-2010. Debt as % of GDP Hits Post WW2 High From The Congressional Budget Office CBO says debt will reach 62 percent of GDP by year's end - The Hill's Blog Briefing Room This falls SQUARELY on the shoulders of the Democrats and their four year SPENDING SPREE. Thanks to falling revenues from an economy showing NO signs of significant growth and runaway federal expansion, US debt compared to GDP will rise to a high not seen since the US vanquished Japan & Nazi Germany 65 years ago. Thats an added growth in spending of about a Rating: 5

[boaz]

from what I understand Timmy and Barry want to keep on charging that charge card until we pull out of this crappy economy and then start paying it off. I think the rest of the world said f' that, and that is why the market was tanking.

i'm no expert but it seems to me that balancing the budget was the greatest stimulus we had ever seen for the ecomomy and the stock market back in the '90's when they finally did it. I say we give that a another day in court and see how the markets like it. :twocents:

[bigsby]

That and stop subsidizing corporations and start underwriting middle America. Close every loophole for corporations moving jobs offshore and write in some triggers to penalize those that do anyway. That right there is a crime on so many levels.

[Islandborn]

That and stop subsidizing corporations and start underwriting middle America. Close every loophole for corporations moving jobs offshore and write in some triggers to penalize those that do anyway. That right there is a crime on so many levels.

There its is........some ground we can agree on. I'll try and meet you more in the middle from now on. I refuse to believe there isnt a middle ground for all of us ( or the good portion) to be content here in the states. Feels like its the politicians from both sides that benefit the most from us being so divided and angry....which turns us on one another getting jack-shit accomplished.

Im just not totally sold on Ron Paul.....and who knows....if the Dems do get hammered at the polls in November it might be just what we need and Obama can recover with a more evenly distributed senate and congress. Clinton pulled it off.

[bigsby]

Agreed. As I see it there were some perhaps unbalanced responses in reaction to what can only been seen as bigoted posts heavily tilted towards Iran; I understand where that came from but I don't feel that I should have been associated with those efforts. It is worth pointing out that I did make clear my disagreement with those posts. I directly objected to a number of them. That said, I came into the conversation a bit late and probably should have taken a bit more time to do the background reading.

I am a realist. My approach to politics is strictly in the realpolitik tradition which places US interests above all others (in this regard Nixon was a genius). Note that US interests and US (short term) policy often diverge. That is where I feel citizens must step into the mix in order to help bring policy inline with long term interests. Also note that I usually see US long term interests as being closely aligned with issues of social justice.

So here's to moving past direct assaults and towards more constructive dialogue.

Regards.