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Feds in Washington Borrow 40 Percent of Every Dollar Spent
| June 1, 2011
Posted on 06/01/2011 11:10:33 AM PDT by usalady
Not only is the federal government borrowing 40 cents of every dollar it spends, it has also accumulated a national debt that is nearly 70 percent of the U.S. annual economic output. That is expected to be 100% be the end of 2011 if a new direction is not taken.
(Excerpt) Read more at examiner.com ...
TOPICS: Business/Economy; Government; Politics
KEYWORDS: china; creditcards; deficit; usdebt
Compare that to an American household that already had debts of 70 percent and then started putting 40 cents of every dollar it was still spending on credit cards. Eventually those credit cards would be cancelled and the only alternative left would be to declare bankruptcy because no in their right mind would lend any money to them anymore.
posted on 06/01/2011 11:10:41 AM PDT
Heard on FOX news this AM that the limousines in DC for foreign dignitaries has doubled since O took office. That bit of info in a high gas, recession, electric car for the masses time, sure can put a knot in your gut. (We need a new word - one you can repeat, please - to describe our foreign visitors. Anything with dignity would not describe what is coming into the USA for most official visits.
posted on 06/01/2011 11:19:47 AM PDT
Good let those Pinko scumbags, Repay it!
posted on 06/01/2011 11:38:43 AM PDT
( November 4 2008 ,A date which will live in Infamy.)
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