USA Replaces Portugal as an Official Debt Pig

Confounded Interest ^ | 12/10/2012 | Anthony B. Sanders

[whitedog57]

The terms PIGS usually denotes Portugal,Italy.Greece and Spain as large issuers of government debt as a percentage of GDP. But the USA has replaced Portugal as an honorary PIG.

The USA has been on a spending and debt binge since the Democrats took control of Congress in 2008.

And the growth in GDP risen as much as hoped with the additional spending, debt or money supply. M2 Money Velocity (GDP/M2 Money Stock) is falling fast.

So as President Obama and House Speaker Boehner discuss the fiscal cliff and taxation in ADDITION to Obamacare taxes (coming to your checking account on January 1, 2013), I hope they both consider that GDP generation through money supply and debt are not working.

It is sad that the USA has taken its place along side of Italy, Greece and Spain.

I’m now heading out for a gyro.

[whitedog57]

Its official. We ARE bankrupt.

[ExGeeEye]

*2006

[mlstier]

*2007

(Th election was in November of 2006, but they didn’t take office until January 2007)

[ExGeeEye]

Still not 2008. :p

[Twinkie]

This is dishonorable. Betrayed by greedy, power mad politicians.

[Amagi]

Based on the law of the land, the Constitution of the United States of America, there is absolutely no reason for this nation being in debt.
The fact that the USA is in debt is prima facie evidence of criminal behavior by those abusing their office in government.

[ought-six]

The simple fact is that if a businessperson handled his or her company’s finances, or I handled by household finances the way our politicians have handled the finances of the nation those businesspersons and I would be in jail. But the politicians? They grow fatter and more arrogant as they continue to plunder with impunity.

In a just world....well, I won’t say it, because we don’t live in a just world.