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 ...
Debt is $17+ Trillion.
We have ALREADY passed 100%.
What is your solution?
Wait a mintue; I thought climate change was the biggest threat?
A crisis with the petro-dollar and the only way to salvage this this welfare state will be major war. It’s the only way they can sell the austerity and protect the dollars status to oil. It may well be unavoidable, if nothing else, enjoy it while it lasts.
You don’t change it—you restore it.
Word.
Agreed. Those that like to yack and finagle political solutions to things had better get in gear.
These articles always call it a debt problem. It’s not. Debt is a symptom of something. In this case it’s SPENDING. we have a spending problem.
Returning to a constitutional government is the answer. Why change something that we don’t follow?
Even if they are just referring to “Debt held by the public”, that’s on the order of $12.5 trillion.
Last year’s GDP was roughly $16.7 trillion.
We’re already undeniably at 75%, even with the numbers most favorable to “them”.
They’re not even trying to hide the lies anymore.
Why give the creeps who won't follow the Constitution the opportunity to rewrite it?
looks like King and Queen size beds are on the rise.
Government doesn’t ever have a revenue problem. At every level they bring in more than enough money to do the job of managing those things that must be publicly owned. But that gets boring and doesn’t garner them the power and wealth they crave, so they wander off the path.
Government has a spending problem. It’s that simple.
Government doesn’t ever have a revenue problem. At every level they bring in more than enough money to do the job of managing those things that must be publicly owned. But that gets boring and doesn’t garner them the power and wealth they crave, so they wander off the path.
Government has a spending problem. It’s that simple.
I’m afraid the heavy, fast moving debt train smashed through the CBO many, many years ago....
People who think Washington will continue to support selling bonds at market rates will be in for a rude awaking in a few decades.
We can’t pay theses bills, we don’t have the economic potential.
“Article V. is the only solution.”
If that is the case then, i would point out that our population is not yet ready to uses the Article V convention responsibility.
while the Federal government continues to be able to finance the dependency programs the deadbeat and dependent population will only ask for more obvious or apathetic to the end of the supply.
I don’t know about that. It’d be pleasant to a great many to see Reid and Pelosi wearing tar and feathers. Just sayin’.
Oh, good grief. We can just print more currency. Ain’t no need to be confiscatin’. /s
This would crash the market.
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.