Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Bloomberg: US Debt To Overtake GDP In 2012
The Daily Reckoning ^ | 6-6-2010 | Rocky Vega

Posted on 06/06/2010 3:16:24 PM PDT by blam

Bloomberg: US Debt To Overtake GDP In 2012

By Rocky Vega

06/06/10 Stockholm, Sweden – US debt continues surging higher and the chart below shows a likely outcome: debt will exceed GDP in as early as 2012. Yep, that’s fewer than two years from now.

From Bloomberg:

“…the government’s total debt [...] rose past $13 trillion for the first time this month. The amount owed will surpass GDP in 2012, based on forecasts by the International Monetary Fund. The lower panel shows U.S. annual GDP growth as tracked by the IMF, which projects the world’s largest economy to expand at a slower pace than the 3.2 percent average during the past five decades.”

One concern about the rising debt is what PIMCO’s Bill Gross refers to as “the debt super cycle trend.” It’s a situation where the US eventually increases interest rates but, without improved economic growth, it gets much harder to pay debt-related bills. The US may have lot more difficulty selling its debt, or servicing it, when the lines below cross.

You can click the chart below or follow this link to see a bigger version and read Bloomberg’s accompanying article. (Note that there are two tabs, “story” and “graphic.”)



TOPICS: Breaking News; Business/Economy; Government; News/Current Events
KEYWORDS: budget; debt; default; gdp
Navigation: use the links below to view more comments.
first 1-2021-4041-6061-63 next last

1 posted on 06/06/2010 3:16:24 PM PDT by blam
[ Post Reply | Private Reply | View Replies]

To: blam
Yes he can!!!
2 posted on 06/06/2010 3:21:00 PM PDT by EGPWS (Trust in God, question everyone else)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

Geuss the myans were right after all...

*grin*


3 posted on 06/06/2010 3:21:21 PM PDT by Crim (The Obama Doctrine : A doctrine based on complete ignorance,applied with extreme incompitence..)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

It’s all good now, haven’t you heard?

Obama is President! Unemployment, low growth rates, increase in tax burden......... nothing is news worthy because all is fine and good!


4 posted on 06/06/2010 3:22:20 PM PDT by Red6 (Where's my stuff? I want some more stuff too Mr. President!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

Ungood.


5 posted on 06/06/2010 3:22:51 PM PDT by FlingWingFlyer ("Bush made me do it!" - Barack Hussein Obama)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam

All part of the master plan to destroy this nation and usher in one world government(anti christ).

As a man nearing 60 I don’t care that much for myself. But I weep for my grandkids.

As a Christian I’m praying it happens sooner rather than later then we’ll all be spared the horror that is sure to come.


6 posted on 06/06/2010 3:22:52 PM PDT by Terry Mross
[ Post Reply | Private Reply | To 1 | View Replies]

To: EGPWS

The states need to get together and stop this madness!


7 posted on 06/06/2010 3:23:36 PM PDT by April Lexington (Study the constitution so you know what they are taking away!)
[ Post Reply | Private Reply | To 2 | View Replies]

To: April Lexington
The states need to get together and stop this madness!

It won't happen until state governments grow a pair and pull away from the Washington D.C. teat willfully.

8 posted on 06/06/2010 3:30:10 PM PDT by EGPWS (Trust in God, question everyone else)
[ Post Reply | Private Reply | To 7 | View Replies]

To: April Lexington
The states need to get together and stop this madness!

It became a concern at FR when Obama took office.

Out of control government spending has been going on for a long time. The Republicans and GW Bush nearly doubled our national debt in 8 years with few complaints.

This is more serious that Republican vs Democrat politics. Its time to only spend what we can pay.

What party will take that on as a slogan?

9 posted on 06/06/2010 3:39:00 PM PDT by Doe Eyes
[ Post Reply | Private Reply | To 7 | View Replies]

To: Doe Eyes

The Secession Party!


10 posted on 06/06/2010 3:41:54 PM PDT by April Lexington (Study the constitution so you know what they are taking away!)
[ Post Reply | Private Reply | To 9 | View Replies]

To: blam

I think we can safely say that noone under 60 will ever see a nickel of Social Security or Medicare.


11 posted on 06/06/2010 3:43:51 PM PDT by microgood
[ Post Reply | Private Reply | To 1 | View Replies]

To: microgood

sure they will, it’s just that the nickle they eventually get will only be worth 1/10000’th of what it is today.


12 posted on 06/06/2010 3:46:17 PM PDT by TexasFreeper2009 (Obama = Epic Fail)
[ Post Reply | Private Reply | To 11 | View Replies]

To: blam

Graphs tend to scare me and this one didnt fail to shock me either. Pretty scary situation we have put ourselves in. Now how to get out without making things worse, might not be possible with the constant tug of war that is our governmental system.


13 posted on 06/06/2010 3:48:59 PM PDT by emory65
[ Post Reply | Private Reply | To 1 | View Replies]

To: April Lexington
The Secession Party!

It has a ring to it.

It would be outlawed post haste however once it were seen as a predominant political power.

14 posted on 06/06/2010 3:52:34 PM PDT by EGPWS (Trust in God, question everyone else)
[ Post Reply | Private Reply | To 10 | View Replies]

To: microgood
I think we can safely say that noone under 60 will ever see a nickel of Social Security or Medicare.

I'm under 60 and I have a decent nest egg for retirement.

By the time this yahoo in the WH is through I, and those like me won't see any retirement!

Obama's favorite song has to be "Bye bye Miss American Pie".

15 posted on 06/06/2010 3:55:50 PM PDT by EGPWS (Trust in God, question everyone else)
[ Post Reply | Private Reply | To 11 | View Replies]

To: TexasFreeper2009
sure they will, it’s just that the nickle they eventually get will only be worth 1/10000’th of what it is today.

I would just flat out refuse to pay $500.00 for a stick of gum!

16 posted on 06/06/2010 4:00:43 PM PDT by EGPWS (Trust in God, question everyone else)
[ Post Reply | Private Reply | To 12 | View Replies]

To: emory65
"Now how to get out without making things worse, might not be possible with the constant tug of war that is our governmental system."

My poker playing buddies say there's no (bloodless) way back from here.

17 posted on 06/06/2010 4:05:33 PM PDT by blam
[ Post Reply | Private Reply | To 13 | View Replies]

To: Terry Mross
I hear you. I have two young sons and have been out of work. Their future looks pretty grim. It's a good thing my wife works at a good job.

The news these days does nothing but raise my ire/anger. This was all avoidable but the desire by these marxist bastards knows no reason or bounds.

I swear the only way to stop this is going to be as it was done in 1776.

18 posted on 06/06/2010 4:10:51 PM PDT by raybbr (Someone who invades another country is NOT an immigrant - illegal or otherwise.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: blam
My poker playing buddies say there's no (bloodless) way back from here.

They are right. Once the govt. teat runs dry the addicts will go into withdrawal and it will get violent.

19 posted on 06/06/2010 4:12:46 PM PDT by raybbr (Someone who invades another country is NOT an immigrant - illegal or otherwise.)
[ Post Reply | Private Reply | To 17 | View Replies]

To: Red6

20 posted on 06/06/2010 4:13:26 PM PDT by Carling (Remember November)
[ Post Reply | Private Reply | To 4 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-6061-63 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson