Running up debt at a much faster rate than our GDP is rising is a recipe for national financial suicide. Our politicians continue to steal about 150 million dollars
from future generations and everybody ust acts like this is perfectly normal. We are going down the same path that
, Portugal, Italy, Ireland and
have gone. In fact, we already have more government debt
than all of those nations do. Both political parties
have been doing this to us
, and it just keeps getting worse and worse. Incredibly, the national debt has grown more under Obama in less than 4 years than it did under George W. Bush
during his entire 8 year term
. Since Barack Obama entered the White House, we have accumulated more than
five trillion dollars
of additional debt. We are on the road to national financial oblivion, and most Americans don't seem to care.
Debt From Sea To Shining Sea
Now let's add up all the debt in the country. When you total up all household debt, business debt and government debt, it comes to more than 300% of our GDP.... In fact, if current trends continue we will hit 400% of GDP before too long. As you can see from the chart, there was a little "hiccup" during the last recession, but now the debt bubble is growing again. So how high can it go before the entire system collapses? Total credit market debt owed is roughly 10 times larger than it was about 30 years ago. How in the world did we accumulate 10 times more debt in just 30 years?