The result of the growth in our national debt is to place the financial viability of our country in great peril. Many of us were upset with the growth of the national debt under the eight-year Bush administration, during which it rose from 57 percent of GDP to 69 percent, a 20 percent increase. However, from 2008 to the present this rate has risen from 69 percent to 103 percent, a further 49 percent increase. At 103 percent, the United States is in the range of Ireland and Portugal which report 108 percent. We are still well below Greece at 165 percent, but Greece rose “only” 60 percent from 2000 to get to this rate while the U.S. rate has risen 81 percent since 2000. This is clearly unsustainable. This data is from “tradingeconomics.com”.
If the country is not saved from the future fiscal disaster of “Obamacare” by the Supreme Court or a new fiscally responsible administration, this bill could well be its tipping point.
We have met the enemy, and he is us. We must demand that our legislative and administrative leadership reverse this growth of debt before it sinks us. Please pray for our country and our leaders and vote for fiscal conservatives in November.