I. Told. You. So. – The DEBT

by 1389 on January 2, 2013

in 1389 (blog admin), Barack Hussein Obama, government spending, inflation, sovereign debt, U.S. Senate and Congress

Remember when I explained why the US can never tax its way out of debt?

ZeroHedge: Putting America’s Tax Hike In Perspective

Submitted by Tyler Durden on 01/01/2013 10:02 -0500

One of those occasions when one picture really does speak a thousands words.

Tax Hike In Perspective

Houston, we may have a spending problem.

A spending problem?   Ya THINK?

lobo91 has it scoped out pretty well:

@ Iron Fist:

This was a bad deal. There are, for all practical purposes, no spending cuts in this deal.

There are never going to be any spending cuts. Ever. It’s just not going to happen.

4 years from now, we’re going to be looking at probably $23-24 trillion in debt, an even smaller workforce than we have now (which will make the unemployment figures look better, sadly), a credit rating that will be downgraded a couple more times, and interest payments that will consume the entire budget, outside of entitlements.

And that’s the optimistic view.

Commenter Dave on PJM warns:

D___R___T______________________________________________________N

D = where Democrats stand
R = where Republicans stand
T = where Tea Partiers stand

N = where the nation needs to be to avoid bankruptcy.

Math does not compromise, it just wins every time.

THIS is how it will play out in real life.

 


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