The guy does nooooothing with the economy for 4 years, yet somehow he dupes most of the country into voting for him again... That's some leader we got there!!
Without Borrowing, The Government Can Only Pay 60% Of Its Bills
Here’s a telling fact about our current budget situation: If Congress does not agree to raise the debt limit, thus making it possible for the federal government to borrow again once the current $16.4 trillion limit is hit, the federal government will only be able to pay about 60 percent of its bills.
That’s according to the Bipartisan Policy Center, which has published an apocalypticreportin advance of the debt ceiling showdown warning of the consequences should Congress fail to raise the debt ceiling later this year.
Forget the coming showdown for a minute and focus on the first number: The BPC report wants readers to understand how bad it would be if Congress failed to raise the debt limit. But here’s another way to think about it: Without the option to borrow, the government can only finance 60 percent of its operations and obligations in the short term. More than a third of that spending goes right onto the national credit card ........