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Edtior's notes: this chart measures current deficit trending. By 2020, our national public debt will be at 90% of all that we produce "for sale" (GDP). All such charting assumes certain conditions as being "factual" at some time in the future. In this case, the National Product (left side of the chart - the vertical numbering) is fixed at present rates. If the GDP increases, the percentage of debt-to-GDP will decrease, of course. While Bush was busy spending at record rates -- Obama, Reid, Pelosi all voting their approval -- his debt-to-GDP percentage was only 40%. Obama has increased that percentage to nearly 70%. With a declining industrial product, a stagnant private sector jobs contribution, and a novice economist as president, the current spending policy is proving to be a disaster.
update: we just found an article written by a Collectivist Lib here. Same chart but a rather nonsensical commentary. The author seems to think that the chart proves that all is well. Further, he suffers under the delusion that ObamaCare will kick in cost saving measures. . . . . no serious economist believes this. Understand that ObamaCare will be far out of line well before it actually goes into effect. Cash for Clunkers cost three times the estimated cost and did not kick start anything. The Stimulus is nearly 14% over budget with only 682,000 jobs to show for it (see recovery.gov). Since coming into power, Fannie and Freddie have racked up an additional debt of 1 trillion dollars and an emergency bail-out is on the way. The promise to stop the rise in the unemployment rate was not even close and threatens to remain the case for years to come. Remember TARP? Well, 24 trillion has been run through that program, as well - according to Neil Barofshy, the man in charge of looking after this fund. Social Security is 38 trillion in the hole. Medicare is 37 trillion. AMTRAC, funded by the Feds has a 30 year record of operating in the red. Ditto the Post Office. What happened to all those shovel ready jobs?? In fact, if we cited 15 Government programs, not one would have worked as promised, all would be grossly over budget. The socialist lib in question makes fun of a future "apocalypse " not understanding that financial apocalypse may have already happen !!
.update: we just found an article written by a Collectivist Lib here. Same chart but a rather nonsensical commentary. The author seems to think that the chart proves that all is well. Further, he suffers under the delusion that ObamaCare will kick in cost saving measures. . . . . no serious economist believes this. Understand that ObamaCare will be far out of line well before it actually goes into effect. Cash for Clunkers cost three times the estimated cost and did not kick start anything. The Stimulus is nearly 14% over budget with only 682,000 jobs to show for it (see recovery.gov). Since coming into power, Fannie and Freddie have racked up an additional debt of 1 trillion dollars and an emergency bail-out is on the way. The promise to stop the rise in the unemployment rate was not even close and threatens to remain the case for years to come. Remember TARP? Well, 24 trillion has been run through that program, as well - according to Neil Barofshy, the man in charge of looking after this fund. Social Security is 38 trillion in the hole. Medicare is 37 trillion. AMTRAC, funded by the Feds has a 30 year record of operating in the red. Ditto the Post Office. What happened to all those shovel ready jobs?? In fact, if we cited 15 Government programs, not one would have worked as promised, all would be grossly over budget. The socialist lib in question makes fun of a future "apocalypse " not understanding that financial apocalypse may have already happen !!
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