“A debt to GDP ratio of 12% is way too high. “
I think you mean deficit - to -GDP. and yes, that is fiscally INSANE and even the EU President said so.
President Bush and the Republicans in their last budget had a deficit of $200 billion. That level is a sustainable level overall, aka ‘not bad’. That was 2006.
Since 2006, when the Democrats took Congress, the fiscal position has gotten worse and worse and worse and Obama is driving us off a cliff.
we only play into the Democrats hands to allowing the pathetic excuse that Bush did it too. Obama will have a deficit of almost $2 trillion next year - that is MORE THAN 6 YEARS OF Bush+GOP Congress deficits. The scale cannot even be compared. We are going from high deficits to GIGANTIC ECONOMY-DESTROYING MONSTER DEFICITS.
Yes, you are right about it should be deficit ...
I think the best attack is what Judd Greg used today ... 5 years Obama doubles the debt, in tens years Obama will triple the debt. Or another way to put it is take all the debt until he was elected and in 5 years Obama will double that debt.
There is no prosperity in that, only ruination.
The more I think about it, the deficit to GDP ration is likely meaningless to normal folks.