Posts tagged trillion
By Jim Hoft
US debt to GDP passed 101% this week.
Zero Hedge reported:
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: but fear not, with just under $1 trillion in new debt issuance on deck in the next 9 months, we will be at 110% in no time.
That’s not all…
America’s per capita debt is worse than Greece.
And Barack Obama still won’t slow down his spending. The national deficit is likely to top one trillion dollars again this year.
Obama’s $1 Trillion Deficit – Paul’s $1 Trillion Cut
Reports USA Today:
President Obama’s proposed 2013 budget will forecast a $901 billion deficit for next year, falling far short of his goal to halve the deficit in four years.
The budget, an outline of which was released by the White House Friday night, will show a higher deficit this year than in 2011, up from $1.3 trillion to $1.33 trillion.
When President Obama talks about spending “cuts” it’s always some plan that will supposedly unfold over a decade and that the next president or Congress can change at whim. In other words, cuts never happen. But budget deficits, as evidenced above, happen every year. And they will continue to happen every year.
President Paul would offer $1 trillion cuts in the first year. Mitt Romney doesn’t offer this or anything close to it. Neither do the other Republican presidential candidates. In fact, some candidates openly mock Paul for daring to cut so much.
There was a lot of talk at CPAC this weekend about getting away from the reckless fiscal policies of Obama and this is something we unquestionably must do.
But there’s only one Republican running for president who will actually do it.
Now more than every we need the Champion of the Constitution!
Please visit Ron Paul’s official campaign site by following the link below and donate today!
The Federal Reserve Act is a vile tool of legislation used to create money out of thin air, use it in support of the big foreign world banks while hanging the US taxpayer out to dry. Audit the FED, educate the masses and End The FED!
Woodrow Wilson, the president that sold the US out to the bankers. If there is a hell, I hope he is there!
“Thomas Woodrow Wilson (December 28, 1856 – February 3, 1924) was the 28th President of the United States, from 1913 to 1921. A leader of the Progressive Movement, he served as President of Princeton University from 1902 to 1910, and then as the Governor of New Jersey from 1911 to 1913. With Progressive (“Bull Moose”) Party candidate Theodore Roosevelt and Republican nominee William Howard Taft dividing the Republican Party vote, Wilson was elected President as a Democrat in 1912.”