>>Ever heard of printing dollars for nothing and export your inflation?
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>It is only getting worse:
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The budget plan projects a federal deficit of $1.75 trillion for 2009, or 12.3% of the gross domestic product (GDP), a level not seen since 1942, the first year of World War II for the United States.>
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http://www.finfacts.ie/irishfinancenews/article_1016060.shtml>
>and:
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It's time for a pop quiz. What is bigger than the combined economies of India, Russia, Brazil, Spain, and Canada? Answer: the U.S. budget deficit over the next ten years, if the Obama budget plan becomes law.
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>President Obama plans to borrow about $7 trillion over the next ten years to finance all of his spending plans. That is a big number, and a tough thing to put in perspective. To present an idea of the scale of the deficits, the attached chart compares Obama's projected deficit with the 2007 GDPs of the eleven largest economies on earth other than that of the U.S.
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>The projected ten-year deficit is larger than the Japanese economy. It's larger than the German economy. It's larger than the bottom five economies on the list combined.>
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http://www.aei.org/publications/filter.all,pubID.29501/pub_detail.asp>
>And how about this alarming graph:
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http://4.bp.blogspot.com/_dTWAbdNYCs0/SabR9OqXBCI/AAAAAAAAAB8/teilZBcrO0s/s1600-h/deficit.gifFor the benefit of lurkers, AEI = American Enterprise Institute --- hardly a dispassionate source.
