Wednesday, October 16, 2013

The Left are deliberately engineering disaster

The rabidly left wing BBC has been its usual uncontrollable self over the Republican's trying to insist on at least a little sanity from the debt kamakazi Obama administration.

It never crosses the BBC's Guardian programmed mind to ask when all this debt is going to be paid back.

My guess is never.

The left plan is to drive democratic capitalism straight of the debt cliff so they can impose the totalitarian socialist regime they all dream of.

It's a plan with a frighteningly good chance of working.

The only way to stop it is to make democratic governments responsible on debt.

The US Republicans were at least trying, though they might reflect on the last Republican presidency's running up of the national credit card.

1 comment:

Elby the Beserk said...

Quite so, Mr. Shed. FUBAROne

#1 The U.S. national debt is on pace to more than double during Obama’s eight years in the White House. In other words, under Barack Obama the United States will accumulate more debt than it did under all of the other presidents in U.S. history combined.

#2 During fiscal year 2013, the U.S. Treasury paid off $7,546,726,000,000 in maturing U.S. government debt and issued $8,323,949,000,000 in new debt. In fiscal year 2014 those numbers will be even larger.

#3 In September, the average rate of interest on the government’s marketable debt was 1.981 percent. In January 2000, the average rate of interest on the government’s marketable debt was 6.620 percent. If we got back to that level today, it would collapse our entire financial system.

#4 Between 2008 and 2012, the ratio of government debt to government income increased from 4.0 to 6.6.

#5 Between 2008 and 2012, U.S. government debt grew by 60.7 percent, but U.S. GDP only grew by a total of about 8.5 percent during that entire time period.

#6 Since 2007, the U.S. debt to GDP ratio has increased from 66.6 percent to 101.6 percent.

#7 A revised IMF policy paper entitled “An Analysis of U.S. Fiscal and Generational Imbalances: Who Will Pay and How?” projects that U.S. government debt will rise to about 400 percent of GDP by the year 2050.

#8 At this point, the federal government hands out money to approximately 128 million Americans every single month. In case you were wondering, that is about 41.3 percent of the population of the entire country.

#9 Back in 1980, the U.S. national debt was less than one trillion dollars. Today, it is rapidly approaching 17 trillion dollars.

#10 Since the year 2000, the size of the U.S. national debt has grown by more than 11 trillion dollars.

#11 During Barack Obama’s first four years in the White House, the amount of new debt accumulated by the federal government breaks down to approximately $50,521 for every single household in the United States.

#12 The United States already has more government debt per capita than Greece, Portugal, Italy, Ireland or Spain.

#13 At this point, the United States government is responsible for about a third of all the government debt in the entire world.

#14 According to the U.S. Treasury, foreigners hold approximately 5.6 trillion dollars of our debt.

and another 22 such points in the actual article. My Dem friends in the USA, who are all good people, think everything is fine.