The gross federal debt as a percentage of GDP for the years from 2007-2014.
From Euripides' Blog
My friend Eutychus
found this gem from Front Page Magazine
The chart above is an excerpt from an Excel® spreadsheet released by the White House showing their figures on the Gross Federal Debt, taking into account the current and projected budget debt proposed by the Obama administration.
There are two certainties with this current administration. One certainty is that President Obama will continue to steamroll policy-dictated legislation through Congress as quickly as he can and for as long as he can, or until the 2010 election season puts the brakes on our representatives, whichever comes first. A second certainty is that all of his policies will be terribly, terribly expensive.
Well, there's a third certainty. Obama will continue to support social programs that reflect the far left and not the majority of Americans: abortion, same sex marriage, protected class status for homosexuals, anti-gun laws, neutering marriage. The list goes on and on.
Back to the budget. The most astounding and newsworthy statistic is the growth of the Federal Gross Budget as a percentage of the Gross Domestic Product. From the end of the fiscal year 2008 to 2009, the projected increase in the budget (this is just the budget debt mind you) is just over 20%.
Let that sink in.
Obama's budget produces a 20 percent increase in debt.
Note, the budget debt approaches, then basically matches the GDP for the foreseeable future. That debt figure counts only the budget. It does not include the deficit spending from two stimulus packages, nor does it include deficit spending that may arrive in the form of cap and trade, as well for government-run healthcare.
The last time we saw any percentages like this was during World War II, when the federal budget demanded increased spending to fund huge military and industrial programs to fight the war.
Unfortunately for us, we're in a recession and the budget spending isn't likely to be paid off in the near future. Or our children's future. Or our grandchildren's future. The consequences for Obama's presidency will be clear:
When the administration finally releases its updated figures, we should be ready for some really grave news. For one thing, they will show the federal debt moving past 100 percent of GDP at the end of the next fiscal year (the previous estimate for 2010 was 98.1%). This year's deficit amount will be revised close to $2 trillion (more than four times the previous record). Should these numbers become widespread public knowledge, Obama's prospects of implementing his costly agenda would effectually go down to zero. His only hope is to hide the truth. The president's concealment effort will be seconded by the mainstream media who will not do a single story on the fiscal ruin for which we are headed. We, on the other hand, will do our best to hold them accountable. (Front Page Magazine)
Here's a clickable image with the spreadsheet data since 2007. I've highlighted the Gross Federal Debt column. You can also download the spreadsheet in Excel® format from the White House budget
Let's get moving on this folks. We need to tell the White House, our Representatives, and our Senators that we do not
want Obama-led budgets that amount to a 20% increase over George Bush's. We do not
want any more wasteful government spending. We do not
want any more usurious taxes. We do not
want the current power-mongers in power.