Healthcare Bill to Cause U.S. Hyperinflation By 2015

[redrumloa]

@ilwrath

CBO report: Debt will rise to 90% of GDP
http://www.washingtontimes.com/news/201 ... 90-of-gdp/

President Obama's fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation's economic output by 2020, the Congressional Budget Office reported Thursday.

"An additional $1.2 trillion in debt dumped on [GDP] to our children makes a huge difference," said Brian Riedl, a budget analyst at the conservative Heritage Foundation. "That represents an additional debt of $10,000 per household above and beyond the federal debt they are already carrying."

The federal public debt, which was $6.3 trillion ($56,000 per household) when Mr. Obama entered office amid an economic crisis, totals $8.2 trillion ($72,000 per household) today, and it's headed toward $20.3 trillion (more than $170,000 per household) in 2020, according to CBO's deficit estimates.

Bend over people, our goverment is taking us to town!

 

[FluffyMcDeath]

But, seriously.... Nationwide unrest? I expect most people would hardly notice. They're broke now, and will continue to be broke, but American Idol is on, so everything's good.

You make a good point. People will put up with losing just about everything but if you take away their cable/satellite TV society would disintegrate inside of a week. People get snarky when you take away their drugs - and then they get lucid.

 

[FluffyMcDeath]

Beyond the gold manipulations and the oil price manipulations, what else is the US financial industry doing to backstop the buck?
Spreading the pain, of course. You prevent people from moving to other currencies by poisoning those currencies.
[youtube:3qd5hgi6]nql4ZYsEWX0[/youtube:3qd5hgi6]
That keeps value in the dollar allowing the US to keep down inflation.

 

[JoBBo]

CBO report: Debt will rise to 90% of GDP

Considering the title of the discussion thread, this is only half the story. Just as a reminder, the CBO also projected that the health care reform will save costs.

So, if the CBO is correct, things would look even gloomier if the health care system stayed exactly as it is.

President Obama's fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation's economic output by 2020, the Congressional Budget Office reported Thursday.

Just to put this into perspective... Japan is the second largest economy in the world and it has a debt to GDP ratio of 200%, yet it is far from being bankrupt. Japanese are not burning down houses and there are no daily killing sprees in the streets. In fact, crime rates are substantially lower than in the US.

And even though Japan has had some economic difficulties (mostly in terms of growing their already strong economy) for twenty years, they haven't seen excessive inflation rates since the 1950s when the country was still being tightly controlled by the US.

I have a really difficult time to understand all the hysteria surrounding the health care reforms. The US is not going to implode anytime soon.

"An additional $1.2 trillion in debt dumped on [GDP] to our children makes a huge difference," said Brian Riedl, a budget analyst at the conservative Heritage Foundation. "That represents an additional debt of $10,000 per household above and beyond the federal debt they are already carrying."

The federal public debt, which was $6.3 trillion ($56,000 per household) when Mr. Obama entered office amid an economic crisis, totals $8.2 trillion ($72,000 per household) today, and it's headed toward $20.3 trillion (more than $170,000 per household) in 2020, according to CBO's deficit estimates.

I find it curious that they use debt-per-household figures instead of the more common debt-per-capita ones. I can't help but think this was done on purpose to make the debt seem higher than it is.

 

[redrumloa]

We are now at a point where if the U.S. government taxed Americans 100% of their income, the tax receipts generated would not be enough to balance the budget.

And now we will be supercharge spending? There is no other path to follow other than inflation. The question is no longer will there be inflation, but to what extent? One theory is our gov is specifically trying to induce hyperinflation, as it is the only way out of the national debt.

To the top.