Posted on 04/14/2014 12:56:30 PM PDT by Jim Robinson
New figures by the Congressional Budget Office released on Monday reveal that over the next 10 years the U.S. debt-to-GDP ratio will double to 78%.
Over the last four decades America's average debt-to-GDP ratio was 39%. At the end of 2007, federal debt was just 35% of GDP.
The CBO report says gross federal debt will soar from $17.7 trillion to $27 trillion over the next ten years. CBO warned of the dire consequences the nation's debt will have if gone unchecked.
"Such high and rising debt would have serious negative consequences," says the report. "Federal spending on interest payments would increase considerably when interest rates rose to more typical levels. Moreover, because federal borrowing would eventually raise...
(Excerpt) Read more at breitbart.com ...
Warnings, evidently that are falling on deaf ears. The towering and cancerously growing debt problem has been building for years, and while there is still a number of strategies to reduce or avert the effects of this outsized and completely imprudent course, none are being seriously considered at the moment.
Austerity, REAL austerity, is the means by which every nation that survived has managed to bring debt under control. The other major option is dissolution of the very structure of the nation altogether, defaulting on all debts.
By AD 400, nobody was seriously concerned with Rome’s total debt picture. By then, there were effectively two separate empires, the Eastern Empire and the Western Empire, though there was a fiction that it was still “one Empire”.
The Western portion, with Rome as its capital, was effectively incapacitated by AD 285, after the various Gothic tribes had sacked the city several times, and effectively foreclosed the mortgage they held on the former Empire. There were several attempts to recreate the Empire, but they were without wide popular support, and each soon failed.
That’s Racist!
0bama is President.
Lol
This is why the Federal Reserve interest rates are so low. If interest rates rise the service on the debt will bury us.
The limited Article V Convention of States proposed by Citizens for Self-Governance is a necessary step toward recovering our constitutional free republic.
If that doesn't work, then move to a state that will nullify, cut off federal funds and behave at least economically independently.
And take it from there.
Freedom is hardly won, easily lost, difficult to recover.
Again, it’s not servicing the debt that’s the real issue. It’s total spending (see post #8).
It’s W’s fault.
The Federal Reserve will just continue to print more money to buy our bonds.
All is well..... (until it isn’t...)
The government sector doesn't really understand that they don't produce wealth. They look around see the nice houses and cars, and say “We CAN'T stop spending, look at all the WEALTH we have created!”
When you bring up it was all from other people's money, you get a blank stare.
That is why I no longer believe that spending can be controlled. It will take a crash or invasion (see the late Roman Empire) to change it. The powers that be literally can't see the problem.
People keep declaring the death of the tea party, not understanding what fuels it.
Apparently you are into suicide.
So that when it crashes soon after Republicans take over the House and Senate guess who gets the blame?
Yep. They are planting the seed for King Barry staying in office past 2016.
Taxes to the new muslim overlords were much, much, less than the taxes to the Emperor.
It took me a while to realize that. Till then I couldn't see how the muslims who were small in number could hold all that territory if the population resisted. Quite simply, the people didn't resist till it was to late.
How did Hillary’s State Department LOSE $6 BILLION????? Where’s the committee who is looking into this?
Ha! Good luck with that, Marxists!
The US is doomed.
Worse than that. How many ways can I spell KRAP? What’s missing mainly is what CBO claims GDP to be. Every body agrees that feral debt is over 17B$. GDP is running about 15B$. Lessee now, doing math, punc punch punch-—17 divided by 15 is 113%. Regardless of the details the debt is far bigger than total production and is well into that EURO FAIL range. When this number broke 200% that’s when Greece blew up. And Spain is blowing without even that much imbalance. WE DO NOT HAVE 10 YEARS of continueing financial clusterflock.
Listen to Obama and the D’s talk about the debt. They will tell you there isn’t really any debt. They’ll tell you that even if there is, debt makes things grow. They’ll tell you that there are no consequences to debt that are worse than than those resulting from drastic action NOW to avoid catastrophe in the FUTURE.
In sum, they talk much like us when we are addressing the subject of ‘climate change’. (The difference is that the increase in debt is undeniable whereas global warming is speculative.).
I think we should counter them the same way. Shut them up, shout them down, call them ‘debt deniers’. Run them out of our institutions. Propose slapping them in jail. Endlessly shout the names of the billionaire donors to their party who stand to benefit from their destructive policies.
Sauce for the gander I say.
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