Gooo Obama! Without Borrowing, the Government Can Only Pay SIXTY PERCENT of its Bills

[2Manboobs]

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 ........



http://reason.com/blog/2013/01/14/wi...nly-finance-60

[Xhorder]

...mostly because of the unfunded Iraq war started by GWB

[2Manboobs]

...mostly because of the unfunded Iraq war started by GWB

That was 4 years ago, Sweetpea ..... Such excuses are no longer valid... Bush was shitty....Obama is even shittier


* If we average spending as a percentage of GDP under Bush from 2001 to 2009, it sums to just over 20 percent, about the historical average....If we do the same for Obama from 2010 to 2012, we get about 24 percent, quite a bit higher than the historical average.

* If Mr. Obamas budget projections prove accurate, the National Debt will top $20 trillion in 2016, the final year of his second term. That would mean the Debt increased by 87 percent, or $9.34 trillion, during his two terms.


http://hotair.com/archives/2012/07/3...-debt-part-ii/

[Dirty South]

There are times I truly think this country is doomed. China is going to literally end up owning this country.

[2Manboobs]

There are times I truly think this country is doomed. China is going to literally end up owning this country.

I honestly used to think that people that spoke like that were loopy .... But every day it seems to be something new... Congress & the President just continue on like they always have.. Same spending policies & same empty promises to "fix" the problem.... And the voters keep voting for the same old shitheads who continue doing the same old things....

[Gunslinger]

...mostly because of the unfunded Iraq war started by GWB

look at your boy's first term

no accountability with these people

[Dirty South]

I blame both parties equally at this point.

They're two sides to the same shitty coin, just controlled by different super-PACs.

[squigglyline]

We are completely fucked. This is only the beginning.

[stripes]

There are times I truly think this country is doomed. China is going to literally end up owning this country.

china is in worse shape, but thats a BIG secret.

[Xhorder]

look at your boy's first term

no accountability with these people

I hate both parties equally. They all suck...

Fuck everyone.

[Stew Nod]

I blame both parties equally at this point.

They're two sides to the same shitty coin, just controlled by different super-PACs.

Yup, it's over Johnny

"Congress should act responsibly" and raise the debt limit

Holy fucking shit...sure...keep passing it on to your kids, jerkoffs

[tomtom]

...mostly because of the unfunded Iraq war started by GWB

Before you blame that big cost of war into the equation don't forget to reduce the cost of what it costs to run the military when there isn't a war.

Besides, you probably think bush started the war and he wasn't just a pawn.

[Schmoopy]

This country needs another revolution IMO.

[Billy]

...mostly because of the unfunded Iraq war started by GWB

Who let Corky in?

[GHP]

They should base the new economy on the japanese art of anime

[baltimore mike]

[Shean5150]

[2Manboobs]

Yup, it's over Johnny

"Congress should act responsibly" and raise the debt limit

Holy fucking shit...sure...keep passing it on to your kids, jerkoffs

I thought the same thing when I heard that ...He wants them to "act responsibly" by borrowing more money they cant afford to pay back, while simultaneously endangering Americas solvency & sovereignty further..

[2Manboobs]

They should base the new economy on the japanese art of anime

Que?

[deidler]

Yup, it's over Johnny

"Congress should act responsibly" and raise the debt limit

Holy fucking shit...sure...keep passing it on to your kids, jerkoffs

Not his kids. His kids will be rich. I love when people believe that rich people will punish themselves with taxes. Gotta love the Oracle of Omaha saying he needs to be taxed more all the while his company owes a billion in taxes.