Revealed: Obama-Pelosi Economic Disaster Worse Than Once Thought

It’s much worse than we thought.
Under the Obama Administration the national debt in the US will climb to above 100% in less than 5 years.
Edmund Conway at The Telegraph reported, via Power Line:

[T]he really interesting stuff is the detail, and what leaps out again and again is how much of a hill the US has to climb. Exhibit a is the fact that under the Obama administration’s current fiscal plans, the national debt in the US (on a gross basis) will climb to above 100pc of GDP by 2015 – a far steeper increase than almost any other country.

According to CIA 2009 statistics, the US debt to GDP ratio is currently at 52.9%. Greece currently has a GDP to debt ratio at 108%.

John Hinderaker concludes the Power Line post with this:

The Democrats in Washington are both too stupid and too ideologically committed to read the writing on the wall. They are leading the United States over a financial cliff, and they have no intention of turning back. On the contrary: if they can, they will hobble our economy further by enacting a carbon tax. There is only one way to stop them, and to save our children–from whom greedy, selfish Washington liberals are borrowing trillions of dollars–from a lifetime of debt. The Democrats must be voted out in 2010, and Barack Obama must be denied a second opportunity to deconstruct the country that he doesn’t much like.

Agreed.

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