PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Wayners who wrote (768566)	2/17/2009 12:19:23 PM
From: DuckTapeSunroof	Read Replies (1) of 769667

"The "official" national debt is almost...." Yes, I know. And the 'official debt' drastically UNDER-STATES the true extent of out future national obligations. (I've been writing about that point for many, many years.) Still... at this exact point-in-time, as the global financial crisis collapses economic growth everywhere --- by FAR the greatest threat to INCREASE our long-term national debt is not the immediate counter-cyclical spending... but is the COLLAPSE OF REVENUE to the government caused by the drastic fall in economic GROWTH. If we don't get growth back (and fast), the debt will SOAR massively: US, UK, Eurozone Banks Face Meltdown Message 25419567 Japan's 'Unimaginable' Contraction Message 25419661

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