Posted on 03/16/2013 3:09:17 PM PDT by whitedog57
How out of control is government spending? I have three children who pay taxes, so the 5 of us each owe $1.087 million for the insane entitlements promised by the Federal government. And then there is the debt on top of that: another $147,500 per taxpayer.
Of course, Senator Patty Murray (D-WA), Nancy Pelosi (D-CA), Harry Reid (D-NV) and President Obama (D-IL) refuse to cut back on anything, except defense.
Let’s start with government spending. As a percentage of GDP, government expenditures have been rising starting for decades, but started to slow after the Republicans reclaimed The House in 2011.
But the Federal government is spending like the proverbial drunken sailor in port (with apologies to all sailors). As in a proposed $42,000 per household.
But in terms of debt to GDP, we most certainly have a debt problem. Particularly starting in 2007 when the Democrats regained both Congressional bodies. Debt to GDP in Q1 2007 was 64%. At the end of 2012, it was 104%.
All this with declining wages and salaries as a percentage of GDP.
Of course, compared to Ireland, the UK and Japan (along with Portugal and Greece), we look positively frugal!
But with the Democrats ludicrous budget introduced by Senator Patty Murray (D-WA), we are getting into worse and worse shape fiscally.
Congratulations students! In addition to your student debts, your share of the national debt is $147,449 and your share of unfunded liabilities (Social Security, Medicare, prescription drugs) is $1,087,451.
Here is Senator Murray repeating Oliver Twist’s immortal line: “Please sir, I want some more (gruel)” to taxpayers, the Chinese and … The Fed.
Here is Senator Murray’s role model, Oliver Twist.
Wow, they must have been separated at birth!
Lol. They can have my coin tubberware, in which I save for rainy days to feed myself.
Where?
Our chances of averting a period of double or triple digit inflation are quickly dwindling to nothing. Timothy Geithner the secretary of the treasury is already monetizing the debt. Galloping inflation is only a matter of time
According to Princeton Economic Research, we have until about March 22. It all starts going down hill from there. FOX is already reporting another rise in food price is on it's way.
"This cycle turns March 22nd, 2013. We will begin a new decline and the mask of the Obama Deception will be removed. Welcome to 2013...."
The Treasury bonds are going to collapse. The feds are buying them, and then reselling them to themselves - with printed monopoly money. When they collapse, food is going to become unaffordable for most (Those EBT card aren't going to buy squat).
Oboma can't hide his real agenda forever. People are going to figure it out whether they want to or not.
It’s high treason.
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