Obama Debt Increases Twice as Fast as Economic Growth


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If the United States Treasury was Obama’s credit card, it would have been cut up long ago.

“President Obama said that increasing the debt limit does not increase the debt,” the minority side of the Senate Budget Committee says in a statement. “But when the Treasury department started using so-called extraordinary measures to avoid a breach of the debt ceiling in May, 2011, the debt limit stood at $14,294 billion.

“Today it stands at $16,699 billion, which was reached when Treasury started using extraordinary measures in May of this year.  That’s a $2,405 billion increase in 2 years.

“Meanwhile, the economy, as measured by GDP only increased by $1,199 billion between the second quarter of 2011 and the second quarter of this year.

“So the debt increased twice as much as the economy over the last two years, the very definition of unsustainable.  The growth of a nation’s debt cannot for long exceed the growth of its economy – which is precisely what is happening now.”

But that’s okay. We’ll just print more money. And anyone who disagrees is probably a racist. Now let’s talk about how the Tea Party rebirth of the Confederacy hates America because it refuses to let Obama have his taxpayer credit card back.

  • TheOrdinaryMan

    On July 26, 1920, H.L. Mencken said, “As Democracy is perfected, the office of the President represents, more and more closely, the inner soul of the people. On some great and glorious day, the plain folks of the land will reach their hearts’ desire at last and the White House will be occupied by a downright fool and a complete narcissistic moron.” Alas, it has come to pass.

    • TheOrdinaryMan

      ….and H.L. Mencken was a Democrat!