Off-Topic: Debt as a % of GDP.....big trouble for the U.S.

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	Name:	MartiniMan -
	Subject:	Debt as a % of GDP.....big trouble for the U.S.
	Date:	6/7/2010 9:22:28 AM

By all accounts it appears that the U.S. will see our national debt exceed GDP under the Obama administration. As of today it is around 90% of GDP. Sobering thought that in the UK debt is only 82% of GDP. Greece debt is 123% of GDP so we are on a trajectory to be more like Greece, a failed socialist economy and less like Britain, a struggling socialist economy.

Another point that is worth repeating. At the end of Bush's presidency (early January 2009) debt was around 69% of GDP. And all we heard from the left and the government media was the debt crisis under Bush, the irresponsible spending under Bush and by the GOP ad nauseum. While I too was concerned about the spending and critical of programs like the prescription drug benefit, earmarks, etc. it appears that the left was only kidding. Hypocrisy and double standards abound.

And you can't blame this on the GDP as it has rebounded to close to the record level of $15T.

Other messages in this thread:

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Debt as a % of GDP.....big trouble for the U.S. - MartiniMan - 6/7/2010 9:22:28 AM

Debt as a % of GDP.....big trouble for the U.S. - Psycho - 6/7/2010 11:43:15 AM

Debt as a % of GDP.....big trouble for the U.S. - Yankee06 - 6/7/2010 1:48:16 PM

Debt as a % of GDP.....big trouble for the U.S. - Talullahhound - 6/7/2010 3:49:43 PM

So now what do you think?? - alahusker - 6/7/2010 8:28:11 PM

So now what do you think?? - Talullahhound - 6/8/2010 6:48:54 AM

More important question - MartiniMan - 6/8/2010 9:44:38 AM

More important question - Talullahhound - 6/8/2010 11:13:25 AM

More important question - MartiniMan - 6/8/2010 12:28:56 PM

You know Hound ... - water_watcher - 6/7/2010 9:09:05 PM

Debt as a % of GDP.....big trouble for the U.S. - alahusker - 6/8/2010 6:27:22 PM

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