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  • National Debt Now Tops American Fears

    Gallup recently asked a sampling of Americans, “How serious of a threat to the future of the United States do you consider the following…” The results are clear: Americans judge the national debt on par with terrorism as the top threat facing the nation. Further, independents – a crucial constituency during an election year – believe the debt to be the single most threatening issue facing the country, even topping terrorism.

    A quick analysis of the numbers reveals why the public is alarmed. Today debt held by the public stands at approximately $8.6 trillion, up from around $7.5 trillion less than a year ago. Over the past 30 years, debt held by the public has averaged about 39.4 percent of gross domestic product, and last year stood at 53 percent, the highest since 1955. Unfortunately, instead of taking swift actions to address the worsening problem, Congress and the White House have chosen to double down on the unrestrained spending policies of the past. Obama’s budget (the only budget available because Congressional Democrats refuse to draft one this year) sees debt held by the public hitting 90 percent of GDP by 2020.

    As the world is currently seeing in Greece and across Europe, there are consequences to excessive debt levels. The American people understand the danger; the question is when our leaders will.

    Posted in Economics [slideshow_deploy]

    18 Responses to National Debt Now Tops American Fears

    1. Pingback: National Debt Now Tops American Fears | EVERY THOUGHT CAPTIVE

    2. kevin habib says:

      Obviously, the biggest factor in current debt levels is the economic depression the the Bush admistration and GOP Congress pushed us towards, along with the 2001 and 2003 stimulus packages they pushed, and the unpaid for wars they pushed us into and the 2003 Medicare package that added trillions of unfunded liability. The best option is to let the Democrats continue to fix all the mistakes made over the past 8 years. As you can see by GDP growth, consumer confidence, job creation, 60+% growth in DOW, they are getting things going in the right direction.

    3. Drik says:

      Camus said that the welfare of humanity is always the alibi of tyrants. The debt is a way of keeping score. The debt incurers are the greatest threat.

    4. Tim AZ says:

      I guess the question is can 38% of self hating Americans enslave the 61% that oppose them? Stay tuned and find out what it is to be a proud American.

    5. Drew Page, IL says:

      "What, me worry?" President Obama has assembled a 'blue ribbon' Debt Commission of 18 important people, who are going to tell him how to control government spending. Now, everyone can breathe easier.

      However, at last report, the Debt Commission has run out of money and has asked Mr. Obama for more. What do you want to bet that the Commission's recommendation will be to increase taxes? That ought to curb runaway government spending.

    6. Suds, Chattanooga, T says:

      Kevin- time to readjust your tinfoil hat and drink some more Koolaid.

    7. Drew Page, IL says:

      To Kevin Habib — Are you entirely delusional? Wait, don't answer. That was a rhetorical question. If you really believe what you have said here, I strongly urge you submit yourself for psychiatric evaluation.

    8. m Darwin says:

      Kevin H,

      "As you can see by GDP growth, consumer confidence, job creation, 60+% growth in DOW, they are getting things going in the right direction."

      I am sorry, but where do you get your information? the Huffington Post? Please link the current factual consumer confidence report, show where the GDP has grown and please include where Congress is about to put us over the top in comparison with the GDP. Show where there has been a 60+ %(Percent) growth in the DOW…(you will not find this one, guaranteed, 60 pts maybe, but not percent) So…. where did you say they were getting it right?

    9. hitnrun says:

      He's referring to the "bounceback" in the Dow last April. Obviously this was the result of the expertly targeted, pro-growth administration policies of Obama, who probably didn't even know where his own kitchen was yet, and not market volatility.

      Somehow, these hacks who torture the Dow never seem to mention that it was over 14,000 at one point during those eight dark, agonizing years of Bush. Fortunately, voters aren't interested in irrelevant math games, and are more interested in things like whether there's any work available for them.

    10. NICOLE LEBLANC says:

      We need to CUT all war $$$$$$$$$$$ by 100%, defence,military,homeland security

      by 60% and end all pentagon earmarks.

      Also eliminate the institutional bias in medicaid so that people with disabilties and elders can live in the community and not in nursing homes/ Institutions, which are a lo t more expensive!!!!! Raise the social security tax by 15% over the next 8years.

      tax financial institutions/oil companies/junk food

    11. Pingback: The greatest threat to the future of the United States | Mind Your Own Damn Business Politics

    12. The Giggle Test says:

      To kevin habib – if the economy was down during the Bush administration, it was due to 9/11. The Bush tax cuts helped everything stay afloat. But with the tax cuts expiring soon, more money will be taken out of the economy, driving us deeper into recession.

      The reason why we were in a recession during the last years of Bush in office was because the Dems demogogued (no pun intended) us into one. And they think they're going to talk their way out? Not so fast. And what good is "GDP growth" if we have a national debt that what percentage of the GDP?

    13. RIGHTWINGRN says:

      Kevin,

      Where is the job growth? In trainers for the Rainbow Unicorns that poop out the stimulus money that Obama keeps spending? For the DOW to gain 60% it would be somehere around 22K. Didn’t like Bush on spending and Obama seems hell-bent on outdoing him.

    14. bjoc, florida says:

      Why is the press so reluctant to talk about the largest unfunded liability in the nation ie. federal pensions and health care (Dallas Fed. Res. may 25, 2009) ?

    15. Dwayne, Cleveland, Texas says:

      Everyone needs to step back and review. A Democrat (FDR) started the whole entitlement program debacle that, good intentions aside, now have us reducing our national security budget to try and offset the cancerous rise in the cost of those same entitlements. Beside the 1996 legislation brought forward by a Republican and signed into law by Democrat (Bill Clinton), no administration, congress or senate has made one effort to restrict their use. People must take care of their own – aka Families, Neighbors and Communities. Make no mistake, the government CANNOT legislate compassion. The last 50 years have gone a long way to removing the unwritten obligations of individuals to each other. Our liberty gives us freedom FROM each other regardless of any unwritten obligations TO each other. We must each be able to decide for ourselves. History proves the bottom line: we must get out of debt or face destruction. You cannot legislate compassion. No entitlements on the federal level. We can’t afford it……

    16. Pingback: Defusing the Debt Bomb « LiberTEA Watch

    17. Foxfire22, Tennessee says:

      Who wouldn't be afraid of the national debt.

      I don't believe many people alive today in America know how bad real poverty feels.

      God had a little influence upon the lives of people during the Great Depression, that doesn't exist today.

      This is going to be a scary place when it hits.

    18. Bobby- Germany says:

      to Nicole.. sorry Girl your wrong. we need to eliminate the federal unions all social services YOURS INCLUDED. lower taxes on the people who bring us prosperity and jobs and deport all plunders of our wealth (aka illegal immigrants). start executing all prisoners found guilty of murder 1st degree.go back to chain gangs for the rest and only allow people to vote who pay the majority of taxes in this country as our founding fathers originally intended it to be.if you don't have a stake in the game you don't have a say in it.also the military is the only government arm that was to be paid for by taxes.

      OH cheer up I'm not president yet.

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