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News Link • Economy - Economics USA

Debt To Eclipse 19 Trillion – US To Become Next Greece?

• DRScoundrels
19,600,000,000,000. That is a terrifying number. That is the new debt that we could be hitting as of 2015. Where are the people who were screaming at Bush II for a debt of 500 billion by the end of 8 years? Excuse me – this deficit was 10 trillion dollars in 2008. Barring spending (though reckless on both sides of the aisle for TARP – which has for a large part been repaid making Bush’s “black hole” be more of a loan that is paid back – and the Stimulus plan – which hasn’t paid anything back or created jobs for that matter) to try and stem the bank failures and the failing economy – Barack Obama is now looking to easily eclipse 7 trillion in excess spending in 7 years. Doesn’t it bother the people who are still pounding their chests and saying “Bush spent too much”?

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