[americanophile]

I used to think this kind of stuff was hyperbole, but when you’re headed for 94% GDP to debt ratio, you have to wonder.

[volunbeer]

Like you, I am extremely concerned about our debt in comparison to our GDP and savings. Entitlements are the main problem compounded by future unfunded pension/healthcare costs both public and private. You can only live on a credit card for so long!

The only solution that I can see would be to disband entitlements and slash the size of government at all levels. I don’t see any indication from our current leaders that they would do this, therefore, logic says we are headed for very hard times.

[Son House]

94% GDP to debt ratio

^
http://www.heritage.org/research/taxes/bg2001.cfm
...but tax revenues are a function of two variables: tax rates and the tax base.

Regardless of the tax rate, tax revenues have almost always come in at approximately 18 percent of GDP.


Just the interest alone is going to be nearly impossible to pay at 18% of GDP, especially as the tax base shrinks, as Democrats intended with tax increases. Even McCain was smart enough not to raise anyone's taxes