Federal, State, Local and Household Debt combined up to 36 trillion up from 24 trillion before the 2008 financial crisis (Congress, Iraq)
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And the obamacrats just want to keep spending more.
What is interesting is only 5 out of 18 years of baby boomers are retirement age and only 6 years out of 18 years of baby boomers are Medicare-age.
Federal spending will have to rise dramatically via deficits in the last next decade so the government can fulfill the Medicare and SSDI promise for seniors.
If there is a recession there will tens of millions more on Medicaid which with 90% reimbursement rates will increase spending.
Will be interesting how the next decade pans out in this regard with the leverage based economy.
Obama specifically brought on a Fed Chairperson to keep rates low and make him look good. It's going to lead to a massive crash. Libs will blame Trump, but it's Obama's fault.
And the obamacrats just want to keep spending more.
Maybe you missed it, your boys are going to add Trillions more in Debt, time for you to move on the GOP is in charge now, but no outrage by you, there is a word for that.........
Wonder if the current economic bubble is due to all this crazy debt. It's like a massive debt splurge since the last recession.
How much debt can the state, local government and household take on?
What is interesting is that during the 2008 financial crisis the national debt was around 9 trillion and now it is over 20 trillion dollars.
Household debt is also higher than it was during the 2008 financial crisis.
Please remember that when President Obama was elected he put the true costs of the Wars in IRAQ & Afghanistan unto the federal budget.
Dubya never sumbitted a budget for those Wars but asked Congress to pass yearly "Supplemental Security Bills" to fund those wars.
That is how the National debt nearly doubled along with bailing out Wall Street and the Auto companies.
President Obama did leave us in a good economic state.
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