"But the long-term deficit and debt that we have accumulated is unsustainable. We can't keep on just borrowing from China, or borrowing from other countries — (applause) — because part of it is, we have to pay for— we have to pay interest on that debt. And that means that we're mortgaging our children's future with more and more debt, but what's also true is that at some point they're just going to get tired of buying our debt. And when that happens, we will really have to raise interest rates to be able to borrow, and that will raise interest rates for everybody — on your auto loan, on your mortgage, on — so it will have a dampening effect on the economy." Mystical Magical Negro (LA Times)
Well, no SH*T Sherlock, what was your first clue? You know, being right ALL OF THE TIME SUCKS! The Gunny called it 18 MONTHS AGO that this guy is a flaming IDIOT and could not pour p*ss out of a boot with the instructions on the heel! He had ZERO executive level experience and IT SHOWS! So really what the idiot was saying above was that we're ALL going to enjoy higher taxes, as per the norm, under liberal rule.
"From 2010 to 2019, Obama projects annual deficits totaling $7.1 trillion; that's atop the $1.8 trillion deficit for 2009. By 2019, the ratio of publicly held federal debt to gross domestic product (GDP, or the economy) would reach 70 percent, up from 41 percent in 2008. That would be the highest since 1950 (80 percent). The Congressional Budget Office, using less optimistic economic forecasts, raises these estimates. The 2010-19 deficits would total $9.3 trillion; the debt-to-GDP ratio in 2019 would be 82 percent." Robert J. Samuelson
Here is the real deal. But UNDERFUNDING these progerams NOW, Comrade Zero can say they cose LESS than they really WILL! FDR did it with his various entitlement programs, LBJ did that with his failed War on Poverty, Carter just sucked, and now the Nitwit-in-Chief is doing it with his sprint to Marxism. For example, Comrade Zero bleats that his health plan will cost ONLY $1.2 trillion over a decade and then budgets $635 billion. Thus, the huge deficits occur and then the liberals can blame them on the Republican who gets elected in 2012 to replace this moron. And as USUAL, a review of Maobama's budget shows a SQUEEZE of defense spending and from 2008 to 2019, the libertards raise Federal spending by a whopping SEVENTY-FIVE PERCENT while DoD spending increases by 17 percent. A return to the Carterism of 1977, just as the Gunny said it would. Of course, our enemies are digging it.
5 minutes ago