# CBO: Federal debt to exceed 70 percent of economic output



## CJIS (Mar 12, 2005)

AFP
See realtime coverage 
*CBO: Federal debt to exceed 70 percent of economic output*
Kansas City Star - ‎1 hour ago‎

By KEVIN G. HALL WASHINGTON -- The amount of federal debt held by the public is projected later this year to surpass 70 percent of the nation's annual economic output, the nonpartisan Congressional Budget Office said Tuesday in a report that ...


----------



## Guest (Jun 6, 2012)

_"Federal debt held by the public in 2008 stood at about 40 percent of the gross domestic product, the sum of all goods and services sold in the U.S. economy in a year. It's approaching twice that today, projected at 73 percent or higher, and the CBO suggested that both parties are to blame."​_
This is such a disgrace. It's sad to see that when it comes to our economy, the philosophy of the Obama administration is to throw money at non issues and then to not do anything on things that matter. My niece is 9 years old. What will be here for her in 10, 15 and 20 years from now? College will be untouchable for her, so she will likely be forced to work full time right out of high school, that is if she can even find a job. She will be forced to make such sacrifices just to survive, and she will be in the "work force."

How about those on fixed incomes 10-15 years from now? Social Security is dwindling and unless we do something (which I don't see how with the number of people drawing off SSI compared to how much money is going in) by 2033, people on fixed incomes will be in even more dire straits. Medicare/Medicaid is also outgrowing the funding available. Fuel prices are sky rocketing, so there won't be nearly as much money available for LIHEAP type programs for the very low income families. We keep borrowing money from China to "donate" to other countries that are in need. For every dollar borrowed, we need to pay back three. 41 cents of every dollar in your wallet is borrowed from China. What kind of national security is that?

God bless what's left of America...









​
Read more here: http://www.kansascity.com/2012/06/05/3643853/cbo-federal-debt-to-exceed-70.html#storylink=cpy​


----------



## Guest (Jun 6, 2012)

Yes Zombies lets continue "Forward" with the Obama agenda....straight to hell. What a disgrace.


----------



## Guest (Jun 6, 2012)




----------

