As reported on Bloomberg.com (article here http://www.bloomberg.com/apps/news?pid=20601087&sid=armOzfkwtCA4&refer=world), Our Chairman, Barack Hussein Obama's stimulus spending commitments now stand at $12.8 trillion. That is equal to the entire GDP of America last year. It exceeds the entire national debt.
You do not need a degree in economics from Princeton to understand that this cannot possibly be good for the country. No country can spend its entire GDP and survive. It just isn't possible without a staggering influx of tax dollars. How much tax dollars you ask? Right now, just to cover that spending, it is just over $42,ooo for every man, woman , and child in America. Still think Borat won't be raising your taxes? Still think just 5% of wage earners in America can cover that?? Do you still think the 53% of wage earners that are paying the entire income tax obligation can be taxed enough to pay that?? The true answer is that 12.8 trillion is far beyond what can be covered, even with the rosiest of rose colored glasses, can you see it differently.
It is nearly impossible to comprehend just how much money that is, but I will try, yet again, to help you grasp the concept.
If you stacked $100 bills 6 feet deep with no space between stacks, you would need 64 acres of land to hold that much cash.
If it was 12.8 trillion seconds, it would take over 409,000 years for a stop watch to reach that number.
Can you grasp it now???????????????