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US Debt As Big As the Economy Now

January 9, 2012 byBojidar Marinov

After the promises we heard from the Republican candidates for Congress and Senate in 2010 about balanced budget and spending cuts, we had betrayal. The same candidates voted at least twice for raising the debt ceiling, and have struck a deal with Obama which only solidifies the growth of federal spending over the next 10 years. The promises were all conveniently forgotten.

Now we are at a point where the total debt of the US government is equal to the total economy: about $15 trillion. In other words, everything we have produced and will produce is laid on the table as a collateral for the payments of the Federal government to its favorites: big business and welfare recipients. This historical landmark doesn’t seem to create a stir in Washington DC; Congress and the Senate go about their business unperturbed, things are as usual. We can keep spending more than we produce, is the mood in Washington DC.

Some government experts and socialist economists claim that it is not a problem, that many nations in Europe have debt much higher than their economies. Of course, they duly omit mentioning which nations. They are Portugal, Ireland, Italy, Greece, Spain, the famous PIIGS that have created an insurmountable financial problem which may lead to the disintegration of the eurozone and the European Union. Apparently, the politicians and bureaucrats in Washington DC either do not care about the possible consequences of an uncontrollable debt growth, or deliberately are leading the nation toward these inevitable consequences. If the European Union can not survive the financial meltdown caused by a few countries in it, what can make one believe that the US can survive the financial meltdown caused by the Federal government itself?

Something needs to change in Washington DC, and change so drastically that spending is cut immediately, not by little steps and not by compromises. An out-of-control Federal government is a much greater danger to America than any external threat by any hostile leader. When the debt level of a family reaches the level of their worth, the family must make drastic changes. Same applies to a nation too.

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icouldahad

You just made the best case to vote for Ron Paul I've ever read. Thank you.

Mayflower Decendant

So true. But the Senate isnt' going about its daily business. Most of them aren't even in DC… They are off so the Senate is holding "pro forma" sessions. A couple of them meet every 3 days for a couple hours and that way they don't have to report a recess to the house! That is why the prz is using the excuse that they aren't there and therefore he can say they are in recess and appoint anyone he wants to any position he wants without having to go through the Senate. We The People need to take back this Country from the dem prez and from the scallywag repubs that have stabbed us in the back!
God Bless America!

BOTK

This is the problem with so many Tea Partiers today. When they don't get everything they want, they start screaming and yelling and accusing the Republicans that they elected into Congress of being for the other side or for being fraidy cats or something. They never stop to think why what they wanted never came about.

Let's sit down and THINK about why the Republicans in the House never passed any huge budget cut, any balanced budget amendment, or anything like that. First of all, in order to pass ANY sort of bill through the either house of Congress you need AT LEAST one more than 50% of the vote. Do Republicans HAVE control of more than 50% of the Senate? No! And do Republicans control the White House? No! It's even "worse" when it comes to trying to pass a balanced budget amendment. You need a supermajority of at least 2/3 in order to pass any amendment through either House. The Republicans don't even have such a supermajority in the House, much less the Senate. So why are we accusing Republicans of not passing these things? Although I'm a conservative, I dislike a lot of factions of the Tea Party who claim to know and champion the Constitution, but in reality they only know the Bill of Rights. When it comes to the actual operations of the federal government specified in Articles I,II, and III, they know nil.

icouldahad

??? Why are you talking about the Tea Party? I think they thought they had vetted the candidates. Unfortunately, once most of them descended into The Swamp, they became just as corrupt as the ones whose place the took.
How many of the Tea Party candidates ended up voting FOR the NDAA? Allen West did in the House and Marco Rubio in the Senate.
Fat load of good TP candidates were.
S. hartzler

My TEA Party has educated our membership about Articles I, II, and III of the Constitution. I was responsible for I &II. We are at the present implementing the "The Making of America" DVD series using the work of Cleon Skousen. What these people are angry about is that the too many new reps we sent to Congress have caved to the "Establishment" pressure. Instead these people should be pressuring leadership to continue to send legislation such as the ObamaCare repeal and spending cuts/ballanced budget to the Senate week after week. The Senate Democrats must be exposed and embarrased. If the MSM won't report on what is happening in that body, then the House Republicans must do it.

We all knew that it would take several election cycles to get a majority in both the Senate and the House. My gut feeling is we will be lucky to have elections this cycle nevermind the future. If we do have elections, Obama MUST be voted out or our country will be so degraded it won't matter, or Obama will preside over an unlimited tenure as President for Life. I suggest that all people be on our knees as our greatest weapon is PRAYER.

BOTK

Agreed, almost 100% hartzler. I just dislike the article's author's faceless blaming of the Republicans, something I've seen too often among the Tea Party. Even if they do expose the Senate Democrats, they still can't do much till the next election. And, while I believe that elections can change a lot, the biggest change needs to come from our families. For as long as we as families tolerate all the liberal trash out there without attacking it from every front, we won't get anywhere.

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1599

The amazing thing is that the government got here through the advise of top ranked economists.
Stellyce

As I was watching the news tonight and reading on the internet all that is going on in our country – appointments being made outside the Constitution, numerous rulings by the courts, requests being made to raise the debt ceiling again – I nearly felt a feeling of helplessness and frustration try to come upon me. It was like “if our elected officials will not do anything to stop this, what are we supposed to do about it or is there even anything we can do?” The elections seem so far away and what damage might be done until then!

Then this feeling arose inside of me that said “You know what, Enough is Enough! It is time for God's Warriors, His Church, the Body of Christ to shake off their slumber and take a stand! Stand together as a unified body, with one voice”. And I mean that literally.

We need to have our own grassroots National Day of Prayer. This is what I would like to propose: On Thursday, January 19, 2012 at 1:00 pm Central Standard time, I would like each one of us to come before the Lord, at the exact same time, in unity. First (with a resounding voice) to praise and bless His Name, proclaim His Awesomeness, to honor His Faithfulness, to thank Him for His Grace, His Mercy and for all He has done for each one of us, our families and for our Nation. And then, standing in agreement and unified, cry out to God – ask for His Divine intervention on behalf of our Nation and each of her citizens and for protection against anything that might cause lasting damage to our Nation!

“Again I tell you, if two of you on earth agree about whatever they may ask, it will come to pass and be done for them by My Father in Heaven” (Matthew 18:19). “For with God nothing is ever impossible and no word from God shall be without power or impossible of fulfillment” (Luke 1:37). No matter how difficult or impossible the situation may seem, God can always bring change and restoration!

It is time for this “sleeping giant” (the Church) to arise. If you will stand in agreement with me on January 19th (1:00 pm. CST), please copy and re-post this everywhere you can. E-mail it to friends. Lets get people all across our Nation, at one specific time, who will stand together in Spiritual unity and pray with a mighty voice!!

Then we will watch as the miraculous takes place!!!