Debt increases twice as fast as Wealth during the past two years
What is the Obama Economy? Debt. Trillions in spending for no gain. Trillions redistributed from efficient production to what ever inefficient cause of the day the elitist left chooses. You’re getting poorer in the process. Enjoy your free healthcare.
The amount of debt we incurred over the past two years was double the amount of wealth we added to our GDP; or, the rate at which our debt is growing is two times the rate at which our economy is growing — and Democrats’ only proffered solutions to this entirely unsustainable scenario are 1) increasing government spending and 2) raising taxes. Awesome.
We are a stone’s throw away from $17 trillion in national debt, with absolutely zero plans to even just stop aggressively adding to that number, let alone come anywhere close to simply breaking even. So many liberals are so blithely convinced that ‘we face no impending debt crisis’ and that the simple legislative act of once again raising the debt ceiling has no substantive reason to devolve into such a circus — but here’s a handy little chart to consider, first posted by the Weekly Standard from the Senate Budget Committee: