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December 5, 2012

Meet Peggy and JoAnn

Topics: Political News and commentaries

Meet Peggy and JoAnn, two of the many reasons America is broke ... and getting broker by the second.

And Barack Obama's reelection has guaranteed an increase in the culture of dependency to a point in the very near future that the Peggy and Jo Anns of America are going to be a majority ... with America now on an unsustainable course of not enough taxpayers to cover their 'gimme dats'.

As Charles Krauthammer aptly noted on last nights O'Reilly Factor:

"... it's not going to happen overnight," Krauthammer said. "But clearly, at some point, and we know that that point is 90 percent, 100 percent ratio of debt to GDP. We're already under Obama over seventy percent of debt to GDP. When his term started, the ratio of debt to GDP was 44 percent. It's now about 73 percent. That's in four years. That's astronomical."

But there is a political component to increased spending, Krauthammer said, and Republican presidential nominee Mitt Romney was unable to successfully make the case that the nation is in danger.

"I think it's pretty easy to win elections when you give away candy that you borrowed from the Chinese." he said. "And I think the reason the Republicans lost is they didn't make the case. They didn't make the case that this is unsustainable."

Related: Obama Wants Power to Raise Debt Limit By Himself, Anytime

Posted by Hyscience at December 5, 2012 10:49 AM

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