Stunning Wwii
Has Obama Doomed America with his out of control Spending?
CBO Reports Spells Doom For U.S. Economy
The raw numbers are in from the Congressional Budget Office, and they are truly stunning. It estimates that by 2020, the federal debt will balloon to 90% of GDP, the highest level seen since immediately following WWII, when the debt level reached 109% of GDP. Some more comparisons are in order to provide a little perspective. In 2008 according to the CBO, the federal debt only amounted to 40% of GDP. Greece, a country that is full-blown economic meltdown, has a debt to GDP level of 115%, and most economists say that once the debt levels hit 80 to 90% of GDP, economic growth begins to slow down.
http://www.usmoneytalk.com/economy/cbo-obamas-budget-will-grow-to-90-by-2020-just-like-probs-in-greece-904/
Our debt is the ONLY thing I have seen grow since 0bama took office!
Well and of course soon to be the HC insurance companies wallets!
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