Obama on pace to borrow $6.2 trillion
Remember this oldie but goodie from four years ago?
Mr. Obama is on pace to borrow $6.2 trillion in one term. That's more than all the presidents from Washington through Clinton combined.
The national debt will, at the current rate, be raised by $2 trillion more in Mr. Obama's first term than the figure he cites above, late in Dubyah's second.
HT: Drudge
Mr. Obama is on pace to borrow $6.2 trillion in one term. That's more than all the presidents from Washington through Clinton combined.
The national debt will, at the current rate, be raised by $2 trillion more in Mr. Obama's first term than the figure he cites above, late in Dubyah's second.
HT: Drudge
Comments
I'm afraid that even governments which balance their budgets will still have to borrow to deal with cash flow shortfalls. And the international economic system that has been in place and evolved for a couple of centuries isn't going to change because Paul wants it to. Nor is Austrian economics going to work. Ever. Maybe on Paul's home planet, but not on this one.
The thing Paul doesn't realize is that this isn't 1789 anymore. The delusion that it is is ultimately behind his espousing a foreign policy that would be suicide in a modern, economically and geopolitically interdependent world. The same holds true of the utterly crazy idea that it would be remotely possible for any government on earth to go without borrowing on occasion no matter how neatly it kept its own financial house. The world is too complex for simplistic ideas, Jeff-
and precisely because times are so tough, we can afford even less than usual to resort to the kind of crackpot solutions that Paul and other fringe types talk about so glibly.
You and Ron really ought to leave international and economic affairs to folks a bit more grounded in reality.