The Most Dangerous Line Uttered During The Debt Ceiling Debate | Zero Hedge.
“We must increase our debt limit so that we can pay our bills.”
Let me slip this in…
Things that can’t go on forever, won’t. Debt that can’t be repaid, won’t be. Promises that can’t be kept, won’t be.
– Glenn Harlan Reynolds/Instapundit
Back to our regular scheduled program…
The most disturbing sentence uttered during the debt ceiling debate/government shut down, that should raise some concerns by both political parties, is:
“We must increase our debt limit so that we can pay our bills.”
Think about that for a moment. The U.S. has become the single largest debtor nation on the planet as welfare dependency rises, government spending continues to increase and economic growth slows. However, what is ironic about this situation, is that it is the continuing increases in debt which is directly responsible for the decreases in economic growth. The chart below shows government debt as a percentage of GDP as compared to annualized rate of change in economic growth. (emphasis added)
That is what’s called a recipe for success!
