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Posted: 9:21 a.m. Friday, Feb. 24, 2012
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By Neal Boortz
If you’ve had a rough week, reading this won’t make it any better.
For those of us concerned about liberty (and those numbers are steadily diminishing) and for those of us concerned about the future for our children and grandchildren … there is little that is more frustrating than to see Washington continue to spend astronomical amounts of money that it doesn’t have and stick your children and grandchildren with the tab. Here are some not-so-amusing stats.
Children born today will inherit a per capita share of the national debt exceeding $1.5 million, a new study reveals. Republican analysts on the Senate Budget Committee used figures from the Congressional Budget Office to calculate the relative share of the national debt–currently $16 trillion and counting–among different age groups.
The office of Senator Jeff Sessions, ranking member on the Senate Budget Committee, sends along this chart, showing that 'America’s Per Capita Government Debt is Worse Than Greece,' as well as Ireland, Italy, France, Portugal, and Spain.
Without much fanfare, US debt to GDP hit 101% with the latest issuance of $32 billion in 2 Year Bonds. If the moment when this ratio went from double to triple digits is still fresh in readers minds, is because it is: total debt hit and surpassed the most recently revised Q4 GDP on January 30, or just three weeks ago. Said otherwise, it has taken the US 21 days to add a full percentage point to this most critical of debt sustainability ratios.
Given the current level of debt, this deficit forecast, and the normal monthly pattern of federal receipts and outlays, rather than hitting the debt limit sometime in early 2013, as expected when the Budget Control Act was signed, the federal government is likely to max out its credit card on or about Election Day, which should make for an especially entertaining spectacle.
Are you preparing your escape plan?
For those of you considering voting for Barack Obama in November, just look at your children and try to explain to them why they will live to be slaves of the government in order to pay for your poor decision-making in November 2012. And for what? So that you can be “cool” … because he looks like you … because he wants to make things more “fair” by taking stuff from those lucky rich people and giving it to you? Yeah .. that is all going to work for your kids.
Neal Boortz chronicles his 42 years of talk radio in his book "Maybe I Should Just Shut Up and Go Away" Available on line and printed from Barnes and Noble and Amazon.
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