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2009-05-22 Economy

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Posted by Steve White 2009-05-22 00:00|| || Front Page|| [1 views ] Top

#1 59% of GDP in fiscal 2009-10 from 51.9% last year, peaking at 79% in 2013-14. But S&P considers these numbers too optimistic. "Even factoring in further fiscal tightening, the U.K.'s net general government debt burden may approach 100% of GDP and remain near that level," S&P credit analyst David Beers said. "A government debt burden of that level, if sustained, would in S&P's view be incompatible with a 'AAA' rating."

And yet Obama will burden America with another $11 trillion public debt within 10 years, going from 40% of GDP to 100+%. Welcome to El Rupublico de Banana del Norte.

Posted by ed 2009-05-22 11:49|| 2009-05-22 11:49|| Front Page Top

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