Thursday, June 14, 2012

America on Track to Add Three Times More Debt Than Eurozone over 5 Years

Weekly Standard:
The eurozone might be cracking up, but as far as debt goes, America appears to be in worse shape than the entire eurozone in the long run. According to a new chart set to be released later today by the Republican side of the Senate Budget Committee, America is on track "to add three times more debt than [the] eurozone over [the next] 5 years."

Already, as the chart shows, America's debt exceeds the eurozone's, roughly $16.6 trillion to $13.3 trillion. (These numbers are based on what the debt is expected to be by the end of this year.) But by 2017, that gap is projected to widen, and America's debt is expected to be $22.3 trillion, while the eurozone's debt will be $15.2 trillion.
Of course, Obama and the Democrats don't have a plan to address our debt crisis.  They just oppose the Republican plans.
Hat tip to Weasel Zippers.

1 comment:

  1. "If you haven't any charity in your heart you have the worst kind of heart trouble" to cure it
    Help people, let's unite for one good cause, be a volunteer"save live"!