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[TrueGCFan]

U.S. Debt Reaches 100 Percent of Country's GDP
Published August 04, 2011 | FoxNews.com


The U.S. debt reached 100 percent of gross domestic product after the government's debt ceiling was lifted, Treasury figures showed Wednesday, according to AFP.
Debt shot up $238 billion immediately after President Obama signed the deficit-reduction bill into law Tuesday to avoid the country's first-ever default.
The U.S. has been put in the league with highly indebted countries like Italy and Belgium after the new borrowing took public debt to $14.58 trillion from $14.53 trillion.
The last time the debt topped the size of its annual economy was in 1947 during World War II, according to AFP.
Raising the debt ceiling came hours before Treasury would have to default on the country's loans after the Senate approved the measure. President Obama then signed it into law.
The contentious debate on Capitol Hill rattled Wall Street for more than a week, as the Dow slid for eight straight days before finishing up 29 points Wednesday.



U.S. Debt Reaches 100 Percent of Country's GDP - FoxNews.com

[TrueGCFan]

Fire them all!!!

[Tator]

With a firing squad!

[JDawg]

Yeah.... it's time to bring in a whole new crop of law-makers.  These "career politicians" are not cutting it.  And if we want to cut spending, lets start with the folks in Washington.

[ForwardRebels]

Yeah, this shite tends to happend when you get into the nation-building game for 10 years in two countries, then bomb the hell out of a third country for good measure. All the while, you reduce gov't intake by granting tax cuts for people who clearly do not need them and clearly are not going to use the cuts to grow more jobs. Throw in numerous ponzi schemes that have burst or will burst soon and voila!

If you are going to be dumb as hell for a decade, you'd damn well best be tough for the next decade.

[azamugg]

TheNotoriousFCN!dawgfan said:

Yeah, this shite tends to happend when you get into the nation-building game for 10 years in two countries, then bomb the hell out of a third country for good measure. All the while, you reduce gov't intake by granting tax cuts for people who clearly do not need them and clearly are not going to use the cuts to grow more jobs. Throw in numerous ponzi schemes that have burst or will burst soon and voila!

If you are going to be dumb as hell for a decade, you'd damn well best be tough for the next decade.

love to read your stuff big guy even though I don't agree with all of it

but if you think our situation is because of tax cuts and two wars, you're wrong

try BULLSHIT CROOKED INCOMPETENT POLITICIANS on for size

[ForwardRebels]

lol, Yeah, you're right. Bullshit Crooked Incompetent Politicians who got us into the situations I described above.

[JDawg]

ANARCHY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!11111111111111@@@!!!!!!!!!eleventy!!!!!!!!!!!!!!!!!

[NextYearIsHere]

2 unfunded wars and the Bush tax cuts got us here. If you supported (and especially if you still support) these follies,  STFU.

[JSHD]

azamugg said:

love to read your stuff big guy even though I don't agree with all of it

but if you think our situation is because of tax cuts and two wars, you're wrong

try BULLSHIT CROOKED INCOMPETENT POLITICIANS on for size

Actually he is correct.

[razorhead]

NextYearIsHere said:

2 unfunded wars and the Bush tax cuts got us here. If you supported (and especially if you still support) these follies,  STFU.

I'm getting pissed off.  Do you have any idea how fruckin stupid that statement is?  Sure the 2 unfunded wars and tax cuts cost us money and revenue, so how do you fix that?  By electing an idiot that spends even more money that we don't have?  Hell no.  It's simple addition and subtraction that these morons in Washington can't figure out.  You don't spend more than you take in.  That makes me have absolutely no more respect for Obama than I had for my ex-wife.  They are made from the same mold and I hate them both.

[PuddingTime]

Don't spend more than you make, it's pretty damn simple.  This notion that just because someone else did a jackass job of spending money beforehand excusing current spending now is crap.  If we don't have the money, you don't put more charges on our damn credit card, pretty simple!

[NextYearIsHere]

razorhead said:

I'm getting pissed off.  Do you have any idea how fruckin stupid that statement is?  Sure the 2 unfunded wars and tax cuts cost us money and revenue, so how do you fix that?  By electing an idiot that spends even more money that we don't have?  Hell no.  It's simple addition and subtraction that these morons in Washington can't figure out.  You don't spend more than you take in.  That makes me have absolutely no more respect for Obama than I had for my ex-wife.  They are made from the same mold and I hate them both.

You like to call that stupid, but it's completely true. If you put Casey Anthony in charge of your kids, the only person to blame is you for doing so. The last president enacted these 3 policies which got us to this point. We'd still be here if McCain had beaten Obama and we'd probably be even worse off. Obama has been ineffective in fixing these 3 major clusterf*cks and at the end of the day, that falls on him, but don't for one second act like he was the reason we're here or that the GOP hasn't stood in the way of him fixing these problems.

The GOP wouldn't budge on the Tax Cuts, so President p*ssy gave in to them. That's his fault for that, but just like with the Wars, what Obama wants to do and what the GOP lets him do are two different things. The last two years have been nothing but "NO, NO, NO" from them.

The last guy drove the car into the ditch. This guy is having a hell of a time getting it out and he's getting no help from the GOP, and you act like it's his fault because he's been unsuccessful.

Why don't you quit blaming Obama for the mess you largely supported and let him fix it? I don't hear anyone yelling for a 5% reduction in Defense spending. I don't hear the right saving we arent withdrawing troops fast enough, how much would that save us? You want to get the debt under control, how about you get rid of loopholes on private jets. But no. If we have to fix the debt, it has to be on the back of policies the right-wing doesnt like. And the p*ssy Dems are letting you do it too. Sad thing is the gutting NPR, Planned Parenthood, and the EPA does almost nothing for the debt. You want the economy better, it's time to start address those 3 things while doing reforms on the other big $$$ projects.

[jacobp]

Senator Obama, 2006.

Quote

The fact that we're here today to debate raising America's debt limit is a sign of leadership failure. Washington is shifting the burden of bad choices onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase the debt limit."

Found that interesting.

[razorhead]

NextYearIsHere said:

You like to call that stupid, but it's completely true. If you put Casey Anthony in charge of your kids, the only person to blame is you for doing so. The last president enacted these 3 policies which got us to this point. We'd still be here if McCain had beaten Obama and we'd probably be even worse off. Obama has been ineffective in fixing these 3 major clusterf*cks and at the end of the day, that falls on him, but don't for one second act like he was the reason we're here or that the GOP hasn't stood in the way of him fixing these problems.

The GOP wouldn't budge on the Tax Cuts, so President p*ssy gave in to them. That's his fault for that, but just like with the Wars, what Obama wants to do and what the GOP lets him do are two different things. The last two years have been nothing but "NO, NO, NO" from them.

The last guy drove the car into the ditch. This guy is having a hell of a time getting it out and he's getting no help from the GOP, and you act like it's his fault because he's been unsuccessful.

Why don't you quit blaming Obama for the mess you largely supported and let him fix it? I don't hear anyone yelling for a 5% reduction in Defense spending. I don't hear the right saving we arent withdrawing troops fast enough, how much would that save us? You want to get the debt under control, how about you get rid of loopholes on private jets. But no. If we have to fix the debt, it has to be on the back of policies the right-wing doesnt like. And the p*ssy Dems are letting you do it too. Sad thing is the gutting NPR, Planned Parenthood, and the EPA does almost nothing for the debt. You want the economy better, it's time to start address those 3 things while doing reforms on the other big $$$ projects.

I'm all for defense cuts.  I'm all for a woman's right to choice, but not if I have to pay for it or pay someone to educate their backwoods stupid asses about it.  I also don't want medicare or social security cut.  You however still want to do nothing other than blame Bush.  I agree alot of it is his fault, but you just can't see the end result can you?  Like the rest of your kind you are too busy pointing fingers to live up to the responsibility of running the country that Bush laid in your laps.  I'll go back to my ex wife analogy.  She put me in a bunch of debt unbeknownst to me.  Wasn't my fault.  I divorced her.  I sure did want to go to Vegas, or buy those new golf clubs, even save money for my kids education.  However, because I am a responsible spender I didn't get those things.  I paid my debt over a few years, and now I can have what I want and I don't want to work hard so the lazy bastards you support can continue to sit on their asses.  I pretty much detest the tea party, but I agree with having a balanced budget ammendment.  Anyone who is against that idea is a frickin idiot that should never be allowed to have a credit card.