Look at that number, my friends. Just take a long, hard look at it. For every single liberal that voted Obama into office, take a look at that number and know that you have done this to your country.
On Friday, lawmakers received news of the report that let them know the status of our nation’s economy. The ratio of debt to the gross domestic product is staggering.
By 2015, the ratio of debt to the gross domestic product will increase to a whopping 102 percent compared to only 93% right now. Obama is to blame.
“The president’s economic experts say a 1 percent increase in GDP can create almost 1 million jobs, and that 1 percent is what experts think we are losing because of the debt’s massive drag on our economy,” said Republican Representative Dave Camp, who published the report and is the authority in Washington on analyzing the nation’s debt.
Rep. Camp’s statement was based upon testimony given by University of Maryland Professor Carmen Reinhart, to the bipartisan fiscal commission. This is the very commission created by Barack Obama.
Obama created the commission to find ways to reduce the national debt, and now the commission has found that the very fiscal policies coerced upon this nation by Obama are thrusting us into unprecedented levels of debt.
The major sources of debt right now are attributed to the economic downturn coupled with Obama’s government spending for Wall Street bailout and Obama’s wars in Afghanistan and Iraq.
Most detrimental, however, was the economic stimulus packages he handed out to the poor but also corporate executives.
By 2011, foreign nations — namely Communist China — will rise to $9.1 trillion.