Monday, November 19, 2012

CHART: America's Road to Collapse

Suffice it to say that no country in history has ever survived a 195% debt-to-GDP ratio without devastating economic repercussions.

Yet that is the course Barack Obama, Harry Reid and Nancy Pelosi -- and the entire Democrat Party -- have charted for America.

A letter from 232 multi-industry organizations, in conjunction with the U.S. Chamber of Commerce, is calling on President Obama and Congress to restructure the nation’s entitlement programs and put them on a path toward financial sustainability...

...This year,federal government spending outlays totaled $3.6 trillion, while total revenue fell short at about $2.5 trillion. Mandatory spending—on Medicare, Medicaid, Social Security, and other social programs—accounted for 62 percent of total spending in 2012, and it is expected to rise to 67 percent of spending over the next 10 years. The letter links the rising costs of entitlement programs tochanging demographics, noting that “unlike other aspects of the entitlement debates, demographics are facts.”

...As the letter states, these indisputable demographics make it quite clear that Congress and the President have a job to do: fundamentally restructure the entitlement programs to ensure they are a true safety net for Americans today, as well as for future generations of Americans.

Suffice it to say that these cries for sanity and reform will go unanswered by Obama, Pelosi and Reid.

On this road lies ruin. And the Democrat Party has no concern for the children who will be sentenced to an economic catastrophe.

Is there no Democrat with virtue who will decry this madness?


The MUSEman said...

Zzzzzz.... Politicians can't see past the slush fund the K Street lobbyists are using to "grease the wheel" of their political decisions... what makes anyone think that a chart extrapolated out to 2036 has any meaning whatsoever past, say, 2014? We might as well substitute the Mayan calendar or horoscopes - probably more accurate. ;-)

Just sayin'

Thanks for reading!

Bruce Hall said...

Two words: inflation ... taxes.

Reaganite Independent said...

'The hardest thing to explain is the glaringly evident which everybody had decided not to see' -Ayn Rand