Tuesday, December 2, 2014

The play-like money supply of post-America

It may have been a while since you thought about the national debt.  In the meantime, it has set a new record:

A year or so ago, the Democrats started telling us that the national debt is no longer an issue. This was based on the fact that the deficit is only around half what it was during President Obama’s first few years in office. The fiscal year 2014 deficit came in at *only* $483 billion, a cause for rejoicing in Washington. This represents the smallest deficit as a percentage of GDP since the George W. Bush administration. 
Still, $483 billion exceeds any deficit ever racked up during the administration of any president other than Barack Obama. (Don’t try to play the silly game of attributing the Democratic Congress’s FY 2009 deficit, which among other things included spending under the failed Obama/Reid/Pelosi “stimulus,” to President Bush.) Word came today that the national debt now exceeds $18 trillion, a little more than the GDP of the United States.
When Barack Obama took office, the national debt stood at $10.625 trillion. Which means that the debt has increased by 70% during his abysmally incompetent administration. Put another way, 41% of the national debt of the United States, from George Washington to the present, has accrued during the Obama administration. And we have two years yet to go.
It's on purpose.  This is how the Cloward and Piven strategy looks in real time.

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