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Debt Star: Federal Debt Increased By 113% Since Q2 2008, But Real GDP Increased By Only 2.6%!
Confounded Interest ^ | 01/12/2013 | Anthony B. Sanders

Posted on 01/12/2013 11:26:29 AM PST by whitedog57

How bad is the USA’s debt problem (as we approach the dreaded debt ceiling debate)?

Federal government debt held by the public surged starting in Q2 2008.

But since Q2 2008, government debt held by the public surged 113%. But real GDP growth over 4+ years was a measly 2.6%. That’s not annual real GDP growth, but real GDP growth over 4+ years!

Most people don’t talk about government debt held by the public. Instead, they focus on Total Public Debt, the one that stands at $16,432,692,129,510.84

While not as dramatic as Federal debt held by the public, it is still outrageous. Total Public Debt grew by “only” 69.26% since Q2 2008.

And since the Federal government has little interest (whether the Administration or Congress) is actually stemming the tide of out of control spending, we are looking at a bad ending. Particularly since President Obama told John Boehner that government spending ISN’T a problem.

According to USDebtclock.org, each taxpayer’s share of the Total Public Debt is $145,737. And each taxpayer’s liability for unfunded entitlements is $1,083,342. And growing!

So, I watch in horror as people like Nobel Laureate Paul Krugman approve of bypassing The Constitution (and Congress) and minting trillion dollar platinum coins as a solution to the debt ceiling.

That should tell you how bad the debt problem really is. Krugman and Obama are going full Zimbabwe.


TOPICS: Business/Economy; Government; Politics
KEYWORDS: ceiling; debt; obama; trillion
Government insanity!!!!!!!!!!!!!!!!!
1 posted on 01/12/2013 11:26:35 AM PST by whitedog57
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To: whitedog57

Yes, but listening to everyone, even here, they all ‘want what’s theirs’; IMHO, not truly understanding that, sure, you can have ‘yours’, once you (as a taxpayer) pay the $1+ MILLION of debt....the $$ isn’t THERE to be THEIRS


2 posted on 01/12/2013 12:10:20 PM PST by i_robot73
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To: whitedog57

If you remove the borrowed fund spent from the GDP it would be negative!


3 posted on 01/12/2013 12:11:17 PM PST by tired&retired
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To: whitedog57

Or the Fabian society plan is working just fine.


4 posted on 01/12/2013 12:11:45 PM PST by Vaduz
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To: whitedog57

Everybody calm down. All we need to do is mint a few dozen trillion dollar Obama coins, and all our problems will be solved.


5 posted on 01/12/2013 12:17:34 PM PST by fhayek
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To: fhayek
Everybody calm down. All we need to do is mint a few dozen trillion dollar Obama coins, and all our problems will be solved.

I think we should outsource this to Zimbabwe.

6 posted on 01/12/2013 12:28:13 PM PST by central_va ( I won't be reconstructed and I do not give a damn.)
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