Thanks, Barack.   Thanks, Harry.   Thanks, Nancy.
The US now owes more money than all of the money in the world combined.
Barack Obama, Harry Reid and Nancy Pelosi tripled the [annual] national deficit last year by nearly a trillion dollars – something unheard of in our nation’s history. 
Federal Budget Deficits - Surpluses - National Debt additions
After an unheard-of record deficit last year of $1.4 Trillion the economy is on track to experience a $1.3 Trillion deficit this year.
Kevin D. Williamson at National Review Online reported: 
.I have argued that the real national debt is about $130 trillion [if you add in all the unfunded liabilities that Congress has committed us to or "cosigned" for]. Let’s say I’m being pessimistic. Forbes, in a 2008 article, came up with a lower number: $70 trillion. Let’s say the sunny optimists at Forbes got it right and I got it wrong. 
[Either way we're bankrupt.  The total net worth 
of the entire country is only about $54 trillion.]
For perspective: At the time that 2008 article was written, the entire supply of money in the world (“broad money,” i.e., global M3, meaning cash, consumer-account deposits, checkable accounts, CDs, long-term deposits, travelers’ checks, money-market funds, the whole enchilada) was estimated to be just under $60 trillion. Which is to say: The optimistic view is that our outstanding obligations amount to more than all of the money in the world
Global GDP in 2008? Also about $60 trillion. Meaning that the optimistic view is that our federal obligations outpace the entire annual economic output of human civilization
So, John Boehner wants to roll spending back to where it was in the last year of the Bush administration. Okay, great. Nice start. 
The Obama-Pelosi economic plan resulted in a cumulative 7.5 million jobs deficit. By every objective measure the democrat’s Trillion dollar stimulus bomb was a complete disaster. [After all it, was based on nothing but.age-old economic fallacies].
Instead of focusing on the economy the past two years the radicals in Washington beat up on business and rammed through an unpopular nationalized health care entitlement program. 
-- from

"Our balance sheet is worse than Zimbabwe's or Greece's" - John Charles Layfield 10-16-10
"In the first 19 months of the Obama administration, the federal debt held by the public increased by $2.5260 trillion, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan." --  Terence P. Jeffrey, Sept. 8, 2010
A million seconds is less than 12 days; a billion seconds is over 31 years; a trillion seconds is more than 31,000 years, 14 trillion seconds is more than 434,000 years, 70 trillion seconds is 2,170,000+ years and 130 trillion seconds is over 4,030,000 years.
      "Let's examine what the 111th Congress has accomplished so far. There was a $1 trillion stimulus bill that failed to jumpstart the economy. There was a $1 trillion health care overhaul that the public did not want. There was a financial bill that gave huge amounts of power to unelected regulators. And now, for their final trick, the Democrats who run Congress have decided to leave Washington without doing anything to prevent the largest tax increase in history. God only knows what they are planning for an encore." -- Matthew Continetti
And remember, a bill the Democrats passed just this year  requires the IRS to hire 16,000  MORE  I.R.S.  AGENTS

Dave Barry on the IRS...The income tax hurts those NOT YET rich

"It's official: The Obama administration has now borrowed $3 trillion, according to the U.S. Treasury Department. ... It took from 1776, when the United States became an independent country, until 1990, the year after the Berlin Wall fell signaling victory in the Cold War, for the federal government to accumulate a total of $3 trillion in debt, according to the Treasury Department. It only took from Jan. 20, 2009, the day President Barack Obama was inaugurated, until Oct. 15, 2010, for the Obama administration to add $3 trillion to the federal debt." -- Terrence P. Jeffrey, Oct. 18, 2010,  here
"I think that we all need to consider the possibility ... just the possibility ... that Obama is engaged in a conscious effort to destroy our free market economy so that he can build a government-controlled socialist party on the rubble." -- Neal Boortz, here
[Conscious effort or not, we have an emergency on our hands.] 

The Library of Economics and Liberty

The Price of Freedom         Textbook of Americanism

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