Deficits exceeded $1 trillion in each year of his first term, and his combined debt is a staggering $5 trillion. It brings the nation’s total to $16 trillion, and the possibility of default already has caused one rating downgrade.
And there is no end to the spending spree. Obama’s last budget, although chock full of rosy scenarios, still projected the debt would grow by $6.7 trillion over 10 years.
Thus, if all goes as planned, he will leave office with a national debt of $20 trillion, and a debt-to-GDP ratio far above 100 percent.
That’s Greece. It is an unsustainable governing model, so we should be asking not just about the demographic destiny of the GOP, but also how soon Dems will be condemned by the fiscal facts.
Of all things,the republicans should NOT be listening to the ‘wisdom’ of the media on what they should do. The media is setting a trap.