HappySqurriel on 01 January 2013
| theprof00 said: obama is frustrated because congress is impotent. Whenever they can't agree to a debt ceiling it looks bad to the ratings companies. If we have unlimited credit, we can still argue about money but not have to worry about looking bad. It seems sound to me. |
You're on a speeding train that is heading for brick wall and you're upset that the siren warning the conductor to apply breaks is too loud ...
The debt to GDP ratio has grown from (roughly) 40% in 2000 to over 100% today, the deficit is over $1 Trillion dollars and shows no signs of falling, unfunded liabilities are now starting to come due (pushing spending up), the credit rating is falling (pusing interest rates up), and we will likely see another recession in the next 5 years.
