Why is barry forcing the debt to rise to 90% of US economic output?

Question

President Obama's fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation's economic output by 2020, the Congressional Budget Office reported Thursday.

In its 2011 budget, which the White House Office of Management and Budget (OMB) released Feb. 1, the administration projected a 10-year deficit total of $8.53 trillion. After looking it over, CBO said in its final analysis, released Thursday, that the president's budget would generate a combined $9.75 trillion in deficits over the next decade.

http://www.washingtontimes.com/news/2010/mar/26/cbos-2020-vision-debt-will-rise-to-90-of-gdp/

Answer 1

Debt to GDP is more like 140%. GDP is false. Our debt doesn't include California, the rest of the bankrupt states, Medicare, Medicaid, Social Security ($2.5 trillion is owed to it by the government),Fannie Mae and Freddie Mac ($2.5 trillion in losses).



In the past few weeks, we should've just added $6 trillion in federal debt. Real liabilities are much much larger. Ponzi schemes dont last forever.



Oh and our housing sector is still collapsed.



Socialization has pillaged our country. Debt to GDP is enormous.

Answer 2

His concept is that the debt does not be so undesirable after he institute the run away inflation cost. If he reason an inflation cost such as what Germany had after the war or Zimbabwe, the ten's of trillion does not be that undesirable. Plus Germany recovered to be the third greatest economic equipment, nicely 4th now. All we want is to start a war and then have another united states of america rebuild our united states of america fro us. Obama consistently lie to the popular public with complicated Jargons. Obama in no way meant to shrink the national debt. Frankly he's utilising Arthur Anderson style accounting to cover whats incredibly going o. he's taking money from one end to pay yet another and attempt to cover all the holes it created. i'm hoping CHina did not study it. Who might purchase all those bonds while China freaks out seeing how poorly we handle our money. And remember, there will be lots greater bonds flow available. No ask your self Obama is so concern approximately how credit taking part in cards cope with human beings, when you consider that our government is only as irresponsible as those people who've a credit card debt greater beneficial than their internet earnings for a complete year.

Answer 3

His wants the US dollar to collapse. He wants a one world money system and a one world government. He wants to head it up. After all he rates himself a B+. He needs an A+.

Answer 4

No, ponzi schemes don't last forever by their nature. And it's not due to socialism but to oligarchical control of the politico-economic system by big business.

Answer 5

Money management has never been a Washington strong point.

Answer 6

Well ya know Jim...100% would be MAXIMUM EFFICIENCY.



I just don't think he realizes this is one of those times where it's not GOOD EFFICIENCY.

Answer 7

Because Barack Obama wants to help poor people like my mommy. Bush gave tax cuts to the rich.