Saturday, September 22, 2012

Debt Facts

I recently checked the status of the US National debt (see http://www.usdebtclock.org/) matching values between 2012-09-22 and 2008-09-22. I was shocked to see that the debt has risen a whopping 55.8% during Obama's current term of office. I realize that blame doesn't lie solely on Mr. Obama. The current debt crisis is due to many many years, several different Presidents, and different Congresses. But, it should be obvious that noone, not the President nor the Congress, has done anything meaningful about fixing the problem. Their lack of action is utterly shameful in my opinion. Here are the numbers:

Year Gross Nat'l Debt Gross GDP Debt vs. GDP
2008
2012
...
2016
10,300,475,789,153
16,049,732,350,273
...
22,448,820,091,248
14,064,510,,263,170
15,380,753,875,451
...
17,236,310,535,078
73.8%
104.5%
...
130.2%

Note: if policies and laws are not changed, the debit by 2016 is estimated to rise to be more than $22 Billion - a rise of another 68% over the 2012 numbers. Responsible citizens cannot allow this to happen. We need to elect a Congess that has enough spine to fix the problem. The Congress must hear and act upon the will of the people!

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