The US debt which is a topic of heated debate no matter who you talk to, is about to reach and surpass the total economy of the United States. That means if the US makes 10 trillion dollars, it owes 11 trillion.
Debt is higher now then EVER. President Obama who promised spending cuts and more jobs and a boosted economy has just announces that the debt for next near will be the BIGGEST JUMP IN US HISTORY! His proposed figure??? 2 TRILLION DOLLARS!! Which would bring the US debt to almost 16 trillion, which has never been this high and has not come even close to that since WWII, even when Carter was in office. That's saying something since this was a man that pushed taxes to almost 60%
If you ask me, Obama is doing a pretty sorry job in "stabilizing" the economy. If you ask me, he's destroying the economy and refuses to see that the more spending he allows, the more this country takes a big ol' swirl in the crapper. This 2 years can not go by fast enough.
Read more here http://www.washingtontimes.com/news/2011/feb/14/debt-now-equals-total-us-economy/
Nice blog Mary! Well i agree with you on Americas spending I read a report that said that we spent three million dollars on pointless research. I don't think the economy is Obama's fault completely. I think its America as a whole. The people we elected to office need to step up and save our country from filing bankruptcy!
ReplyDeleteI think you are right about this situation. Pres. Obama did promise spending cuts and more jobs. But every thing that has gone on throughout history is because of the previous president before. Me personally, i don't think that the deficit will get better. I have hope that it does but i dont think things will ever be the same or get better. But we'l see. Nice post. Very interesting.
ReplyDeleteI agree this has got out of hand.I cant even fathom of how much money that is. It was reported today that our debt is bigger than half of Europe. This is a fact and that America cannot pay it off its impossible to. The U.S. is a stopwatch and one day some unknown force will put it to a stop.
ReplyDeleteNice Post! I agree with what you have said. I had no idea that the amount of debt was actually about to pass the total value of our economy. Thats scary. Things are clearly tough right now, for almost everyone. We will be paying this debt off for the rest of our lives. That is the thing I hate about it the most.
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