{"id":4243,"date":"2010-07-04T13:18:25","date_gmt":"2010-07-04T17:18:25","guid":{"rendered":"http:\/\/www.nhteapartycoalition.org\/tea\/?p=4243"},"modified":"2010-07-04T13:18:25","modified_gmt":"2010-07-04T17:18:25","slug":"america-is-sinking-under-obamas-towering-debt","status":"publish","type":"post","link":"http:\/\/www.nhteapartycoalition.org\/tea\/2010\/07\/04\/america-is-sinking-under-obamas-towering-debt\/","title":{"rendered":"America is Sinking Under Obama&#8217;s Towering Debt"},"content":{"rendered":"<p>The Brits are saying what some here won&#8217;t \u2014 Obama&#8217;s failed policies are destroying the country.<\/p>\n<p><a href=\"http:\/\/blogs.telegraph.co.uk\/news\/nilegardiner\/100045733\/america-is-sinking-under-obama%E2%80%99s-towering-debt\/\">Read more at the Telegraph&#8230;<\/a><\/p>\n<p>Excerpt:<\/p>\n<p><em>I hope the White House is paying attention to the latest annual <a href=\"http:\/\/www.cbo.gov\/doc.cfm?index=11579\">Congressional Budget Office Long-Term Budget Outlook<\/a>, which offers a truly frightening picture of the scale of America\u2019s national debt, with huge implications for the country\u2019s future prosperity.<a href=\"http:\/\/www.cbo.gov\/ftpdocs\/115xx\/doc11579\/SummaryforWeb_LTBO.pdf\"> According to the non-partisan CBO<\/a>, \u201cthe federal government has been recording the largest budget deficits, as a share of the economy, since the end of World War II\u201d:<\/p>\n<p>As a result of those deficits, the amount of federal debt held by the public has surged. At the end of 2008, that debt equaled 40 percent of the nation\u2019s annual economic output (as measured by gross domestic product, or GDP), a little above the 40 year average of 36 percent. Since then, large budget deficits have caused debt held by the public to shoot upward; the Congressional Budget Office (CBO) projects that federal debt will reach 62 percent of GDP by the end of this year\u2014the highest percentage since shortly after World War II.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Brits are saying what some here won&#8217;t \u2014 Obama&#8217;s failed policies are destroying the country. Read more at the Telegraph&#8230; Excerpt: I hope the White House is paying attention to the latest annual Congressional Budget Office Long-Term Budget Outlook, which offers a truly frightening picture of the scale of America\u2019s national debt, with huge [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,8],"tags":[],"class_list":["post-4243","post","type-post","status-publish","format-standard","hentry","category-news","category-articles"],"_links":{"self":[{"href":"http:\/\/www.nhteapartycoalition.org\/tea\/wp-json\/wp\/v2\/posts\/4243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.nhteapartycoalition.org\/tea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.nhteapartycoalition.org\/tea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.nhteapartycoalition.org\/tea\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.nhteapartycoalition.org\/tea\/wp-json\/wp\/v2\/comments?post=4243"}],"version-history":[{"count":1,"href":"http:\/\/www.nhteapartycoalition.org\/tea\/wp-json\/wp\/v2\/posts\/4243\/revisions"}],"predecessor-version":[{"id":4244,"href":"http:\/\/www.nhteapartycoalition.org\/tea\/wp-json\/wp\/v2\/posts\/4243\/revisions\/4244"}],"wp:attachment":[{"href":"http:\/\/www.nhteapartycoalition.org\/tea\/wp-json\/wp\/v2\/media?parent=4243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.nhteapartycoalition.org\/tea\/wp-json\/wp\/v2\/categories?post=4243"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.nhteapartycoalition.org\/tea\/wp-json\/wp\/v2\/tags?post=4243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}