"The new borrowing took total public debt to $14.58 trillion, over end-2010 GDP of $14.53 trillion, and putting it in a league with highly indebted countries like Italy and Belgium."
"Moody's said Tuesday that the government needed to stabilize the ratio at 73 percent by 2015 "to ensure that the long-run fiscal trajectory remains compatible with a AAA rating.
http://news.yahoo.com/us-aaa-rating-still-under-threat-204040123.html
hmmm so what you are saying is that we need to cut our debt by roughly 25% by 2015 to ensure our trajectory stays compatible with a AAA rating. Likely..... not. of course we could keep our dept the same and just let our GDP grow, let see it would have to grow by a rate of about 7.5% over the next for years assuming our GDP ends in 2011 at $14.75 Trillion. Congress is cheering about reducing our spending by $2 trillion over the next ten years. Assuming a rate of growth of 2% of GDP we would have to cut our debt by about 4 Trillion in 4 years to meet their trajectory. Truth is the current plan still plans to raise the debt by $7.5 trillion over the next 10 years.
http://blogs.forbes.com/peterferrara/2011/08/04/a-budget-cutting-deal-that-boosts-federal-spending/
Amazing.... Amazing
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That is such a good point. America is often made out to be the villain because our economy is doing better (which is plummeting at a rapid pace these days). It is sobering to realize that such horrible conditions are occurring in Mexico. It makes sense why people try to sneak into America. Both America and Mexico and do better with how we treat people, something to work towards.
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