Thanks Obama – Here Are 24 Stats That Show How Much You Have Royally Messed Up Our Economy

Under Barack Obama, the U.S. economy has performed worse than it did under any other president since the end of the Great Depression.  After every other recession since World War II, the U.S. economy always regained what was lost and got even stronger before the next recession began.  During this “economic recovery”, we have not even come close to getting back to where we were in 2008.  In fact, the number of Americans living in poverty and the number of Americans that are dependent on the government both continue to explode even as Barack Obama runs up trillions of dollars of new debt.  Anyone that believes that Barack Obama is going to “fix the economy” if he is given another four years in the White House has taken way too many sips of the Obama kool-aid.  The truth is that Barack Obama is not going to save you.  Barack Obama has royally messed up our economy (along with a lot of other things) and that is not something we should be thanking him for. (Read More...)

The Debt Bomb: 7,600,000,000,000 Dollars Of Debt Must Be Rolled Over In 2012

When it comes to government debt, it is not just new debt that is the problem.  Every single year, governments around the world must “roll over” gigantic mountains of debt that come due.  That means that the actual borrowing that takes place each year is far greater than the yearly budget deficits that you see talked about on television.  In 2012, a total of 7,600,000,000,000 dollars of debt must be rolled over by the G-7 nations, Brazil, Russia, India and China.  When you add in interest payments, that number rises to over $8 trillion.  And that does not even include any new borrowing that all of those nations will do in 2012.  This is a debt bomb that could devastate the entire global economy at any time.  Everything will be fine as long as global lenders are willing to lend these countries gigantic mountains of very cheap money.  But if that changes, and there are already a multitude of signs that a massive global credit crunch has begun, it will mean a complete and total financial nightmare for the entire world. (Read More...)

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