Debt Up $6.35T Since Ryan Predicted--in 2008-U.S. Was Headed Toward Bankruptcy

[Driver71]

Debt Up $6.35T Since Ryan Predicted--in 2008-U.S. Was Headed Toward Bankruptcy | CNSNews.com

Rep. Paul Ryan, whom Republican presidential candidate Mitt Romney has picked as his running mate, told CNSNews.com four years ago, in August 2008, that the U.S. was heading toward bankruptcy on the fiscal path it was then following and that it would be “mindboggling” to make the problem worse by adding the sort of health-care plan that then-Sen. Barack Obama was advocating in his presidential campaign.

CNSNews.com asked Ryan: “If our country, if the federal government of the United States, stays on the fiscal path it is currently following, is the government going to go bankrupt down the road?"

“Yes. We know that for a fact,” said Ryan. “All the actuaries, all the objective score-keepers of the federal government are predicting this. So, this much we know. What we know is our government is growing at an unsustainable pace and it will overwhelm our economy’s ability to pay the bills.”

Since CNSNews.com first published Ryan making this prediction on Aug. 4, 2008, the debt of the federal government has grown by $6.35 trillion--rising 66 percent, from $9,565,042,361,845.53 then to $15,915,814,457,919.46 now.

[autocar65]

And when it does go bankrupt, what will be have to hand over to our creditors for collateral? State and Federal land? But that is what people think is that money (wealth) comes in the form of a paper/cotton note. That is just the emblem that represents the asset that is exchanged for property. It might be real estate or a fudge sundae from the local DQ.

It is like this myth that Government creates wealth by creating currency. Our assets as a nation are a finite number, adding more paper currency to pay the debt is like adding water to soup to make it feed more people. All that does is fill belly's with water giving the impression of more volume of soup instead of more chicken, celery, noodles.....all the stuff that actually makes soup.

When you hear the term "Quantitative Easing". That means the Government floods the currency market with cheap dollars resulting in an inflationary cycle so as to allow the Government to pay back debt with a more worthless currency. That will cost Americans in the long run, so inflation is as much a tax as are taxes. This is just another way of raising your taxes without you realizing it.

[Bubba74]

And when it does go bankrupt, what will be have to hand over to our creditors for collateral? State and Federal land.

stacks upon stacks of worthless recently printed dollars.

Enjoy that slice of bread, it was $375,000.

[autocar65]

stacks upon stacks of worthless recently printed dollars.

Enjoy that slice of bread, it was $375,000.

Hyper inflation. Trying to inflate your way out of debt, and that is exactly why Germany fell for Adolf Hitler.

[Bubba74]

Hyper inflation. Trying to inflate your way out of debt, and that is exactly why Germany fell for Adolf Hitler.

well, I dont think Barry is Adolf Hitler (too soft)
He does seem to like the economic polices that allowed Hitler to come to power

[Woody]

Obama is completely insane...

[Bubba74]

Obama is completely insane...

by saying that, you are a racist.

[Woody]

by saying that, you are a racist.

It's crazy what these race baiters do to us. I went to one of those outlet malls, and saw nothing but Barry voters... Stickers on jr's buggy, tee shirts on are sOuthern friends, and don't forget about those French students.

[Bubba74]

It's crazy what these race baiters do to us. I went to one of those outlet malls, and saw nothing but Barry voters... Stickers on jr's buggy, tee shirts on are sOuthern friends, and don't forget about those French students.

outlet mall full of Barry voters.

Interesting considering most of the crap at outlet malls in made in China junk.
Arent these the "buy American" crowd?

Like my teamster friends who used to complain about Walmart yet stop at Walmart before hitting the road.

How many Barry/Biden stickers have you seen on Prius, Volvo, Subaru
many they give Barry credit for "saving the auto industry" then help by running out and buying a Swedish car. True patriots

[Starkravinloon]

outlet mall full of Barry voters.

Interesting considering most of the crap at outlet malls in made in China junk.
Arent these the "buy American" crowd?

Like my teamster friends who used to complain about Walmart yet stop at Walmart before hitting the road.

How many Barry/Biden stickers have you seen on Prius, Volvo, Subaru
many they give Barry credit for "saving the auto industry" then help by running out and buying a Swedish car. True patriots

Exactly...Foreign car sales went through the ROOF, during the "Cash For Clunkers" Sale.....