CBO: Debt Surges Under Obama, Will Reach 200% of GDP

Forget Greece.  At the rate we’re spending under Obama we should be so lucky to be Greece 15 years from now:

In the past few years, the federal government has been recording the largest budget deficits since 1945, both in dollar terms and as a share of the economy. Consequently, the amount of federal debt held by the public has surged,” CBO said in a long-term budget outlook that paints a shockingly dark picture of government finances…

Federal debt as a percentage of Gross Domestic Product — a standard measure of a government’s debt burden — stood at 40 percent at the end of 2008. But it will top 70 percent by the end of this year, and is only headed higher unless Congress changes. It could double by the middle of the next decade and will have topped 200 percent of GDP — twice the size of the projected U.S. economy — by 2037.

Just one more reason to support Mitt!  The image above welcomes visitors front and center to Mitt’s website.  This isn’t some peripheral part of the campaign.  “We have a moral responsibility not to spend more than we take in” is the core argument as to why Obama has to go.


About blogs4mitt

Mitt Romney for President!
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