Try and wrap your brain around this one. Your children or grandchildren will be the ones to handle this mess. Remember ... Obama and the Democrats have increased our national debt by completely unprecedented levels. Soon they'll be voting for an increase of our debt ceiling of almost two trillion dollars. This from the non-partisan Committee for a Responsible Federal Budget:
Over the past year alone, the public debt of the United States rose sharply from 41 to 53 percent of gross domestic product (GDP). Under reasonable assumptions, the debt is projected to grow steadily, reaching 85 percent of GDP by 2018, 100 percent by 2022, and 200 percent in 2038.However, before the debt reached such high levels, the United States would almost certainly experience a debt-driven crisis -- something previously viewed as almost unfathomable in the world's largest economy.
Confused by the phrase "public debt?" That is money that our government owes to, shall we say, outside entities. This is not the money the federal government owes to various trust funds - the Social Security Trust Fund, for instance. This is money that is owed to someone ... and a huge hunk of it is owed to nations that are not exactly friendly toward us.
This debt will cripple our country. Your children and grandchildren will be trapped in an economy suffocated by debt ... an economy unable to grow and sustain our current lifestyle. But that's OK, isn't it? Just as long as you still get your People Magazine every week.