National Debt Tag

https://www.youtube.com/watch?v=lqjOZGD_9kA

Report: U.S. Government’s Debt-to-GDP Ratio Now Worse Than Greece Before the 2008 Crash

Posted by Mike LaChance on May 07, 2021 33 Comments

Have you been alarmed by the size and speed of spending by the government over the last few months? Unfortunately, it's worse than you probably thought. When people start mentioning the nation of Greece in the same sentence as the United States, you should be worried.

http://www.cbsnews.com/news/national-debt-hits-record-11-trillion/

CBO Projects National Debt Will Reach $28.2 Trillion Over 10 Years

Posted by Fuzzy Slippers on August 27, 2016 10 Comments

When Obama took office, our national debt was $10.6 trillion; as of today, it stands at over $19 trillion. The Congressional Budget Office (CBO) has issued a report that states our national debt will reach $28.2 trillion over the next ten years. The Washington Free Beacon reports:

Outstanding federal debt is projected to hit $28.2 trillion over the next decade, according to a report from the Congressional Budget Office. At the end of this year, outstanding federal debt is expected to climb to $19.4 trillion and to rise by $8.8 trillion in the next ten years. The federal government’s budget deficit, which is the difference between how much money the government spends and how much money it takes in through tax collection, will be $590 billion by the end of 2016, $152 billion more than the previous year. Government spending is projected to increase by 5 percent, or $178 billion, while government revenue is projected to increase by less than 1 percent, or $26 billion.

Hillary Clinton Can’t Remember Her Plan To Deal With National Debt

Posted by Kemberlee Kaye on December 03, 2015 19 Comments

You would think someone who's proposed at least $1 trillion in new debt would be able to answer questions about how she plans to manage the $18 trillion already outstanding. Alas... Speaking in New Hampshire Thursday afternoon, Democratic frontrunner Hillary Clinton was asked, "specifically, what will you do” about “our $18 trillion national debt?"

Hillary Forgets Who’s Been President for the Last Seven Years

Posted by Mike LaChance on October 19, 2015 12 Comments

Hillary Clinton visited Alabama this weekend and while nearly all of the early media reports are about her absurd claim that Republicans are trying to disenfranchise black voters, it was her remarks about the economy that were truly stunning. In the Associated Press video below, Hillary suggests that it is always Republican presidents who create financial messes which have to then be cleaned up by Democrats. She touts the financial record of her husband before accusing Bush of leaving Obama with a massive debt. She goes on to praise Obama and claim that he never gets enough credit. Clinton conveniently leaves out the role Democrats played in the 2008 financial crisis when they forced banks to give home loans to unqualified borrowers. She also neglects to mention the massive debt accumulated by Obama.

Mark Levin’s tough medicine for the plundered generations

Posted by William A. Jacobson on August 03, 2015 11 Comments

No one will ever accuse Mark Levin of not getting to the point. The top-tier national radio host has several best selling books, including The Liberty Amendments, which I reviewed in 2013. Levin described his project as follows:

"I undertook this project not because I believe the Constitution, as originally structured, is outdated and outmoded, thereby requiring modernization through amendments, but because of the opposite — that is, the necessity and urgency of restoring constitutional republicanism and preserving the civil society from the growing authoritarianism of a federal Leviathon. This is not doomsaying or fearmongering but an acknowledgment of facgt. The Statists have been successful in their century-long march to disfigure and mangle the constitutional order and undo the social compact."

If The Liberty Amendments framed one answer, Plunder and Deceit clarifies and documents the problem. The problem is a problem Levin has been focused on for years -- Progressive Plunder. In this audio addressing teachers' unions opposition to Scott Walker's public sector union reforms, Levin is blunt: "It's plunder! Plunder! That's what progressivism is." Like I said, Levin doesn't waste time. The very first sentence of Plunder and Deceit asks:

Can we simultaneously love our children but betray their generation and generations yet born?

Mark Levin Plunder and Deceit opening sentence

In that seemingly simple question, Levin hits on the essence of what is happening to our country.

National Debt Climbs to Over $18 Trillion Dollars

Posted by Mike LaChance on December 03, 2014 5 Comments

As politics and media have continued to obsess about Ferguson, a very serious thing has occurred. Our national debt topped $18 trillion dollars. That's more than our GDP. John Hinderaker of Powerline reports:

Federal Debt Soars to Over $18 Trillion A year or so ago, the Democrats started telling us that the national debt was no longer an issue. This was based on the fact that the deficit was only around half what it was during President Obama’s first few years in office. The fiscal year 2014 deficit came in at *only* $483 billion, a cause for rejoicing in Washington. This represents the smallest deficit as a percentage of GDP since the George W. Bush administration. Still, $483 billion exceeds any deficit ever racked up during the administration of any president other than Barack Obama. (Don’t try to play the silly game of attributing the Democratic Congress’s FY 2009 deficit, which among other things included spending under the failed Obama/Reid/Pelosi “stimulus,” to President Bush.) Word came today that the national debt now exceeds $18 trillion, a little more than the GDP of the United States.

Remember all the times Obama said he was going to cut our deficit in half? Dan Spencer of RedState does:

Our ‘Irresponsible’ and ‘Unpatriotic’ $18 Trillion National Debt