Out of Control Spending and Increasing National Debt

What does our out-of-control spending and increasing national debt mean?

Sticking it to the Grandchildren

I think by now everyone who is halfway honest and has an IQ above 32 realizes that the claim that the U.S. will default its debt if the debt ceiling isn’t raised by Aug. 2 is just another shameless Democratic canard.

Thanks to cable TV, talk radio and the Internet, the facts are well known:
First, while the exact amounts vary from month to month, the government brings in, on average, about $200 billion a month from (mostly unwilling) taxpayers and pays out, on average, about $20 billion in monthly interest charges. That’s a tenfold coverage. Read more...

The Train Wreck is Coming

If we don't control our national debt, get ready to take the imminent crash position.

What the Debt Limit Battle Is All About

"The Obama Democrats have raised [federal spending] to 24 or 25 percent [of the gross domestic product]. And the president's budget projects that that percentage will stay the same or increase far into the future.

"In the process, the national debt as a percentage of gross domestic product has increased from a manageable 40 percent in 2008 to 62 percent this year and an estimated 72 percent in 2012. And it's headed to the 90 percent level that economists Kenneth Rogoff and Carmen Reinhart have identified as the danger point, when governments face fiscal collapse."

Who Do They Think They're Kidding?

Debt Jumped $54.1 Billion in 8 Days Preceding Obama-Boehner Deal to Cut $38.5 Billion for Rest of Year

$38.5B Cuts in Boehner-Obama Deal Less Than 6 Percent of $653.4B In Debt Incurred Already This Fiscal Year

Feds Spent $142B on Thursday Alone—As Pols Dickered Over Cutting $33B or $40B for Rest of Year