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Old Comments:

2009-05-31 04:24:42
I meant to say: Unless we get Zimbabwe-like inflation, which will erase the debt and the economy, our descendants will be paying off our debt for generations. Either way, they won't have much of a nation left, unless we reign it in, now.
2009-05-31 04:22:09
Bottom line is that unless we get Zimbabwe-like inflation (which is no forecast), our descendants will not have much of a nation left.
2009-05-31 04:20:08
Since, January 20, 2009, every American family has picked up 55,000 dollars in additional liabilities towards the National Debt. That is from the "stimulus" and next year's budget. By the end of 2012, that will quadruple unless we cut spending. When Reagan left office, the total US debt was at 41% of GDP. When Bush 43, left, it was still at 41% of GDP. At the end of 2012, it is now forecast at 100+% of GDP. The only way to "grow" out of debt is a viable economy, but a debt load over about 50-60 percent of GDP will easily negate any growth. He said last week that we're "out of money", but he will not and cannot reign in "social spending". And he lies when he says that the deficit is caused by health care. And wait until you pay you 2000-3000 more a year due to cap and trade! Clarified?
2009-05-31 04:09:48