One can read all the magazines they want, but facts are facts. According to Wikipedia, citing the “CIA World Fact Book,” our Gross Domestic Product (GDP) ratio to our National Debt for 2013 was 71.8 percent. This is the latest year I could find, but I doubt there was much improvement in 2014.
The International Monetary Fund includes external debt and they report the ratio is 104.1 percent. This letter writer, who called some letter writers “Tea Party regulars,” without knowing their party affiliation, wrote it is 30 percent. The CIA report shows that is not true. Now 104.1 percent is pretty high, but is low compared to Japan at 243 percent, but is very high compared to China’s at 22 percent and Germany at 76 percent.
As for “who owns the debt,” the charts and report I cited, as I have written twice, is from a non-partisan research agency. I also wrote exactly how much the two wars cost for all of the readers to see. What the writer leaves out, is how much of the debt has occurred since 2009 and that was clearly outlined in that same non-partisan report that it went from $11.9 trillion to $18.3 trillion in six years. If you don’t believe me, simply “Google” the question of the debt from 2009 to 2014 and it will display the correct figures. I’m not a math genius, but I’m sure most readers can see going from $11.9 trillion to $18.8 trillion is more than a 50 percent increase in six years. I’m not a George Bush sycophant and I’m not happy with what he did to the budget, but stop blaming him for what has happened after he left office. President Obama ran on solving these problems and I, for one, am holding him to it.
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