Economics Education

From Ginger Gargoyle's Gems

This is a look at the Debt Ceiling just from 1980 to now ... As you can see it just keeps going up and up ... And it seems to get worse when the deems are incntrol of thngs - birding let the faces slow you down ...

What I mean by "in control" is the have had either the white house and one branch of congress or they had enough of a majority to over-ride presidentialvetos.

This really sucks because they really have no choice at this point but to raise the ceiling .... For the 11th time since 2001 ...

We are really over a barrel.

So how can they get it under control now without raising the ceiling?

According to experts it would take cutting spending by at least 50% AND raise the tax rate for everyone to around 75% AND end all government subsides (aka welfare/food stamps)

This will never happen because it will spin our country into a Depression that is worse than that of 1930!

Fasten your seat belts -- it's going to be a bumpy ride!