Archive for February 24th, 2012
- Children born today will inherit a per capita share of the national debt exceeding $1.5 million, a new study reveals. Republican analysts on the Senate Budget Committee used figures from the Congressional Budget Office to calculate the relative share of the national debt–currently $16 trillion and counting–among different age groups.
The office of Senator Jeff Sessions, ranking member on the Senate Budget Committee, sends along this chart, showing that ‘America’s Per Capita Government Debt is Worse Than Greece,’ as well as Ireland, Italy, France, Portugal, and Spain.
Without much fanfare, US debt to GDP hit 101% with the latest issuance of $32 billion in 2 Year Bonds. If the moment when this ratio went from double to triple digits is still fresh in readers minds, is because it is: total debt hit and surpassed the most recently revised Q4 GDP on January 30, or just three weeks ago. Said otherwise, it has taken the US 21 days to add a full percentage point to this most critical of debt sustainability ratios.
Given the current level of debt, this deficit forecast, and the normal monthly pattern of federal receipts and outlays, rather than hitting the debt limit sometime in early 2013, as expected when the Budget Control Act was signed, the federal government is likely to max out its credit card on or about Election Day, which should make for an especially entertaining spectacle.
A message for those of you who continue to support Obama and plan to vote for him…
If you have contributed to the Obama campaign in any way, or if you vote for him then you are guilty of aiding Obama in the destruction of our Republic! You are an enemy of the United States of America!
I dare you to sit down with your children tonight and explain to them why you have intentionally set them up to be slaves of the government so that they can pay for your foolish decision of allowing a Marxist to continue destroying our Republic. Why are you going to vote for him again? Is it because he makes everything more fair for you by taking it from those who actually earned it? Go ahead and explain to your children how much you love them and how you voted for Obama because you were thinking about them. Keep the cycle of government dependance going just like your parents did for you. Keep collecting those EBT cards that you use in the middle of the night at Walmart when you think no one will see you. And don’t forget to teach them that after your 99 weeks of unemployment benefits are used up how they can find a crooked lawyer who will help you extend your moocher benefits by getting that social security disability check started. Yea, life’s been pretty damn good for you under the food stamp president Obama hasn’t it? But you want to know something really interesting? Who are you going to steal from when the governments tit runs dry after there’s no one left to take from? Oh, but you aren’t smart enough to understand the consequences of your vote now are you? You’re just a dumb government educated moron without a clue. When your children grow up and are left paying for your stupid decisions I can only hope that they one day sit down with you and ask what you did to try and stop the insanity, or maybe ask what the hell were you thinking?! -JRoycroft
- Study: Each Child Born Today Will Inherit $1.5 Million Of National Debt (5440fight.com)
- These 10 Countries Are Struggling With The Deepest Debt In The World (businessinsider.com)
- | The 10 Countries Deepest in Debt! (truthaholics.wordpress.com)
- [FEAR]: Paul Ryan, Jeff Sessions Warn Obama’s Budget Could Spur Greek-Style Debt Crisis (jhaines6.wordpress.com)
- Economic Indicators : Debt/GDP Ratio (niravisms.wordpress.com)
- 55 Interesting Facts About The American Economy In 2012 (zionistoutrage.com)