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34 Facts On The Debt

23 Jan

h/t http://conservativeblogscentral.blogspot.com

Today is the 1000th day since the Democrat-controlled Senate passed a budget.  Obama’s last budget was voted down 97-0.  Democrats have absolutely failed in leadership as the debt goes up:

The U.S. government’s debt is bad. How bad? It’s so bad that liberals don’t even pretend to have an answer any more. They used to shrug it off. “We’ll grow our way our of it.” In a recovery this weak? With 8.5% unemployment? They know better.

But Congress does nothing about this. It has no intention of doing anything.

#1 During fiscal year 2011, the U.S. government spent 3.7 trillion dollars but it only brought in 2.4 trillion dollars.

#2 When Ronald Reagan took office, the U.S. national debt was less than 1 trillion dollars.  Today, the U.S. national debt is over 15.2 trillion dollars.

#3 During 2011, U.S. debt surpassed 100 percent of GDP for the first time ever.

#4 According to Wikipedia, the monetary base “consists of coins, paper money (both as bank vault cash and as currency circulating in the public), and commercial banks’ reserves with the central bank.”  Currently the U.S. monetary base is sitting somewhere around 2.7 trillion dollars.  So if you went out and gathered all of that money up it would only make a small dent in our national debt.  But afterwards there would be no currency for anyone to use.

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Posted by on January 23, 2012 in Democrat, Taxes

 

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One response to “34 Facts On The Debt

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