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U.S. Adds Two Times More Debt than Economic Output in Last 2 Years
#1
http://www.weeklystandard.com/blogs/us-a...62311.html

The Republican side of the Senate Budget Committee has put together this chart to show that U.S. has added two times more debt than economic output in the last two years:

"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."
"In 4 more OMao years you won't like how America looks....I guarantee it."
“When injustice becomes law, resistance becomes duty.” -- Thomas Jefferson
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#2
And this is why you can't print your way to prosperity. Every extra printed dollar has diminishing returns. Unfortunately, the needle is in deep now, and it can't be pulled out without drastic withdrawl symptoms.
Deal_me_in, proud to be a member of pa2a.org since Sep 2012.
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#3
God please print 100 times more money tomorrow morning. I would love to be able to pay off my house in a year
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