And while Rome burns, our leader is dusting off his flimflam act to make another run.
It’s official, our debt is now larger than our GDP. We are in very dangerous territory here folks. We need to start growing the GDP quickly and radically cut spending at the same time. From a debt standpoint we are as bad or worse off than Greece. Not a great position in which to find one’s self. Just remember this the next time you hear Obama or one of his minions spinning that the economy is improving.
Gas was less than $2.00 a gallon when Obama took office. They are now saying we could see $5.00 this summer (this affects the price of everything you buy). Unemployment was less than 7.5% when he took office and while it officially stands at 8.3% today, that is only because over 3.6 million people have given up and are no longer being counted as unemployed. The national debt was around $9.5 trillion when Obama started. It will most likely be almost $15 trillion by the end of his first and hopefully only term.
We are headed for the cliff, Obama has the steering wheel locked and the accelerator mashed to the floor. If he wins a second term and continues to spend at this pace, he will have doubled the national debt in 8 years. Wrap your mind around that for a moment and let it sink in. In the 232 years prior to his coming to office, the country had amassed approximately $9.5 trillion in debt (international wars and all). Obama has set us on a path to double that amount in 8 years!
This madness must stop or we will become no better than a failed European Socialist Sate. Maybe that was Obama’s plan from the beginning.