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This Time Next US Presidential Campaign: $24.1 Trillion In Debt, 138.9% Debt/GDP
While Obama may or may not be on the way to winning his reelection, courtesy of a GOP field that is, to say the least, limited, and where the only worthy candidate is more ostracized by the right than even anyone on the left, the bottom line is that whoever wins the presidency, it will matter precisely didley squat. As the US debt clock shows, fast forwarding 4 years, or to February 2016, when the next presidential race will be in its final stretch, America will have $24.1 trillion in debt, about $9 trillion more than it does, now on $17.4 trillion in GDP, for a gross debt to GDP ratio of 138.9% (and Apple's $1 trillion market cap will account for 150% of the Nasdaq... just as IBM is 125% of the DJIA). Needless to say, it will be long past game over at that point confirming that the current presidential race, with its exciting tangential detours into female fertility, moon bases, LBO IRR maximization courtesy of cost-cutting, is completely and utterly meaningless. Also, keep in mind, "at current rates" for an endspiel that has now entered the exponential phase in virtually every category, is to say the least, optimistic. Yes, interest rates may be negative in 2016, but that means that the liquidity trap endgame has not only begun, but is well on its way to ending, and mercifully putting an end to this whole Keynesian "sustainability" charade. Remember: Japan's debt-deflation lasted for 30 years only thanks to new pockets of incremental global leverage and inflation: China and the PIIGS. This time, absent the levering of the entire continent of Africa, there is noone who can take the releverage baton and run. Which means the only "buyers" will be the central banks. At least back in the day, Weimar just one nation. This time, it will be the "Weimar World."
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Slewie, don't lie, you do play a doctah; that is what you do.
L0L!!!
i couldn't even sprell it right, could i? [i don't think i'll evfen try to correct that one!] {ot that one either}
physician, get up from rofl, thyself!
bong-h0, reverse jimi_john!
At the end of the day, we can all say Obama gave 138.9% effort during his term.
Ever wonder when the End Game to our sorry financial charade will finally arrive? These numbers give us the answer: before 2016.
While I don't doubt our debt will reach 24 trillion by 4 years from now, I do have to wonder about this debt clock. How in the world is our debt supposed to go up 9 trillion dollars when our federal budet deficit in 4 years is only 260 billion?
Nice sarc you got there.
That was not sarcasm, I was legitamtely wondering. I would have thought our deficit would be like 2.4 trillion or something of that order. not 260 billion. Must be an error in the clock.
A broken clock is right twice a day.
/sarc
Next year's deficit has already been revised to $1.2 Trillion, which is half of the $2.4 Trillion you mentioned. Why should anyone expect the following three years deficits to average $400 Billion when we've yet to see a sub-Trillion deficit from O, and we're relying on deficit spending to prop up GDP? It's like Kruggers keeps saying - reigning in government spending (austerity) will break the overall economy. So spend we will.
If you haven't cashed out your 401K, run and get it before it becomes...oh what will they do to it?
Obviously 401K's will be seized and converted to prop up Social Security. They'll wait another 10 years or so though. Waiting for the people with sizable 401K's to have spent it/died. The younger generations in this country count their retirement "savings" in the 10's of thousands, not hundreds. When the government seizes Jim Jack's $15K he saved up over the past 8 years, he won't be so upset.
Of course, 50%+ of the country has no retirement savings at all other than some cash stuffed into an old shoe in their closet. They won't care about some money being taken from "rich people" with 401K's.
No need to seize 401Ks when they can just print the equivalent. The 401Ks will simply be devalued into nothingness without the government ever needing to touch them.
$24 trillion in debt estimated in four years but the deficit goes down to only $261 billion? Even the debt clock runs on hopium!
it is an atomic clock and runs on the decay of the isotope hopiumFiatAssfukBiCheZ, first developed by the predecessor of tDurden in an attempt toPassGo w/out going toJail while rolling the dice in a former in-car-nation when speech was more PC
The word "suckers"comes to mind right after "slaves".
When President Bush enters office in 2001, the USA has a federal budget surplus of +$127 billion dollars and a national debt of $5.6 trillion dollars. Bush adds +$5 trillion dollars in eight years and President Obama adds +$5 trillion dollars in three years, to the US national debt.
What is overlooked is the debt held by the Fannie Mae and Freddie Mac—government sponsored enterprises—that the US owns but whose debt is not on the federal government’s books, which totals +$5.3 trillion dollars. Adding in the increased debt at the Federal Reserve for QE 1&2, further increases the national debt by +$2.1 trillion dollars.
The USA’s national debt “grand total TODAY” is about +$23 trillion dollars or +149% of GDP. In four years, the US national debt will be +$32 trillion dollars or 184% of GDP, if nothing is done. This is INSANITY!!! Greece’s national debt to GDP is 136%, and look at their problems.
Rule by the 1%, where the banksters control the economy and the political process, based on the philosophy of “free market fundamentalism,” is a complete and utter DISASTER for AMERICA!!!!
In the future GDP will be classified as a matter of National Security.
You may be joking, but unless the American people take control of their government again that's exactly what's going to happen. What was the rationalization for not auditing the Fed again?
I look for the Debt clock to be taken down. But thats just how we roll in Chicago politics on a need to know basis.
Greece can't print
Monetizing the debt is what tin-pot dictators do just before they are forced to flee the country.
Monti should feel relieved at seeing this projection! Forza Italia!
Serious q'tion: $24 trillion assumes that in 4 years there's been "business as usual", doesn't it?
Something that has begun to accelerate in the 18-34 year old mind-set is this: at what point do such numbers become meaningless?
There was a point when being a millionaire was a big dealTM and National debts were measured in billions (e.g. UK, £36 billion in 1972); now we have billionaires and trillions. A lot of young people are not stupid - naive, foolish, maybe: stupid, no. The old lie was that anyone could make it to the 1% (and is still kept alive via Facebook etc ~ although one has to vastly inflate the P/E of companies to do it) - but there's a massive quantitative and qualitative difference between being a millionaire and a billionaire. This has lead (and is increasingly growing in awareness) of a credibility gap.
2016... I'm not seeing the new generation actually believing the numbers any-more. Not to mention an additional (to the 1st world's 1) 2-3 billion people who now have full access to the internet to show them what they're missing. At some very crucial tipping point, people cease to have faith in the system, and forcing people to contribute to your supply lines isn't the best in terms of 'productive value'.
Personally, I think anyone betting on 'business as usual' in the next 4 years is missing something.
http://www.youtube.com/watch?v=j-rxe9Ayb8c
interesting point of view.
Another great article is here: http://eamb-ydrohoos.blogspot.com/2012/01/global-debt-crisis.html
Aahhh..
Decode the '72 angle & I'd have been impressed.
p.s.
You've posted that twice before, and I've read it. Needs a fucking editor already, this is no longer the age of the Odyssey or Iliad. The major Greek issue is having to wade through 10+ pages on a minor subject (for instance - ultra-right wing politics) to get to a fucking point.
Learn to be succinct, your country might fare better.
What a bummer that CCX never took a foot. That's where the ponzi game was going to transfer the debt.
"When you can't imagine what's going to happen next, the unimaginable will happen"
-Bruce Sterling
By than, a ATM will be a rubber stamp where you can insert paper and the ATM stamps the amount of dollars on it that you need to buy stuff....
And if you need food, gas or anything else that a person needs, you'll need to pay with silver.
still a long way to go to mimic Japan
compound exponential equation bitchez
Bix is crazier than a March hare
First off, the repubicans Do Not Want to be in the White House. And with the size of the numbers of debt and rising every day it is over no matter what what happens.
Christopher Walken for President of The New American Republic.
Does Kevin Costner get to be Postmaster General in The New American Republic?
Your description of this as Keynesian is garbage. Keynes was a believer in running surpluses in good times and deficits in bad times--he was not a believer in running massive deficits all the time.
Disingenuous bullshit, pure and simple.
Yeah, like any drunk with a ready and unlimited supply of booze is going to binge out only HALF of the time --- every other month, he is going to be totally sober, honest!
One could make the same ludicrious argument in support of Marxism too --- "It is perfect in theory, it just wasn't implemented properly!"
Keynesianism, like every other version of (supposedly) utopian statism, would only work if those in power were angels. Unfortunately, that vastly concentrated governmental power inherent in statism tends to attract precisely those most motivated to exercise and abuse that power to their own advantage.
Better still, one who binges from noon to midnight could be characterized as sober in deed, even though not in chemistry; Keynesians print when times are bad an thus far have conveniently forgotten the other half of their formula for success because they never got the debt-buzz out of their system.
Well, someone needs to tell that to the Keynesians who think running massive deficits all the time is a good idea.
(singing) I love a charade....
"At least back in the day, Weimar just one nation."
Force in young Tyler, strong is today!
O/T
anonymous has had cia.gov down for days now
That's pretty intense to take on big brother with such gusto.
On Topic - yea our debt is fucked but the immaculator in chief will never mention the debt he has burdoned the public with. ever. I wish he would stay out of the media, I hate seeing his face claiming all this success when all he's done is shoved debt up our asses.
If you take down Amazon.com they lose millions of dollars a day.
If you take down gov.gov, they are slightly embarrassed in the media. And instead of losing money, it helps justify additional government funding for "cyber security." More government jobs, more deficit spending. More governmental oversight, regulation, and power over the internet.
You don't really think the CIA actually uses cia.gov, do you? Their email is fine, their intranets are fine. Gov.gov is merely the public face of an agency on the web.
Which is not to say that it's irrelevant. It gets attention. And propaganda is a big part of this whole "anonymous" thing, to sway hearts and minds, and gather additional recruits (patsies to be raped by the FBI because they don't know how to properly operate on the internets). But in terms of having a real impact, it does not. So if they are using DDoS as a smokescreen for other, more meaningful activities, then bravo. If not, who gives a fuck?
Well if the CIA left it's "face" vulnerable to DDoS whose not to say their intranet has been left open to an SQL injection? After all, we know that the F.B.I did, as the leaked FBI conference call was indicative of e-mail penetration (to what magnitude remains uncertain)
Who the fuck knows what they're doing, they've hacked just about everything by now.
Fuckin' revenge of the nerds on the for-real-for-real.
DDoS isn't hacking. And it requires no skill whatsoever other than having more bandwidth than the target.
Data matters. Information matters. Knowledge is power. Knocking down public websites is amateur bull shit.
The best hacks they've pulled off were HBGary Federal and Sony. Because those were real hacks resulting in data loss and real world impact. HBGary, especially.
As for the FBI thing, that is either a ruse by law enforcement or anonymous is even dumber than most think. When you gain access to a communications channel you don't expose that fact after the very first intercept. And the guys in that teleconference made the point of saying several times that it was a "short meeting", shorter than usual. And they agreed to have a "real meeting" on Monday. Yet the "hacker" posts the audio before the Monday call even takes place.
Burning your access to FBI/Scotland yard teleconferences after the very first intercept to impress your peers is indicative of just how retarded and immature those people truly are. Anyone would be wise to distance themselves from such an amateurish operation post haste.
I thought it was Lulzsec that did HBGary/ same diff/no diff.
All important information should be passed in invisible ink and carrier pigeon. The internet is too vulnerable.
I almost want to say that the flash crash was the result of hacking as some wierd shit happened that day that didn't even look like trading. Buy or sell orders wouldn't execute. One things for sure it wasn't Waddel And Reed in Kansas that crashed the market as the authorities said. Same thing with the flash smashes...how the fuck does a stock go from 20 to 200,000 in one second? You can call it a bazerk algorithim, I say the shit's hacked.
What part of Anonymous being a distributed network do you not understand?
Jesus Christ on a stick. What browser are you using? AOL?
You might want to look up the past 6 hacks (including: Symantec, Law firms who represented Marine killers, Police departments, Syrian Government emails, Russian local corruption and bad safety protocols in Chinese companies*) and get a fucking clue. I'd give you links, but as you're a fucking moron, you don't deserve them ~ go find them yourself, you idiot.
"Anonymous" is an idea, it isn't a group, a tribe, an IRC channel or something you can PSYOP. Some "Anonymous" stuff is legit, some is counter-intel, some is kids, and some is insane blackhats pissed off at you twats.
HINT: Reading about marines gloating over spreading death is all over the world you bitch. Just because you're a fucking retard doesn't alter the message.
#counterpsyopretardsgettingpaidforbeingfools
BTW you fucking paid shill - that was.... DRUM ROLL.... *FOXCONN they hacked you piece of shit. Up to and including the CEO's pass, ability to order materials and all invoice data. Oh... "Sony was the greatest success"... Disinfo shill, GTFO.
Yeah.. 'cause... hacking those targets is kinda childish DDOS stuff n everything.. like hanging out at the mall. GTFO, talentless shill ~ oh, and kill yourself if getting paid to troll is your best bet in life. Seriously: that shit is less than pathetic.
no fucking clue what your talking about but tip of the hat for a rant that i actually laughed out loud at
I was hoping for some substance in between all the insults, but didn't find any.
What are you even trying to say? Do you even know?
Wait - LOICs aren't real?
Hi Bob, It could be Janet, over at DHS that's responsible for the down time. It sure would help justify a new Internet security plan.
haha
The trust in government is confidence inspiring.
Anyone see Marc Faber on Bloomberg yesterday after the close? He seemed happy. He said to buy real estate. He likes foreign dividend payers. He said a Greek default does not have any real consequesnces (outside of Greece). It was bizarre.
Bendokey said homes are worthless. Yeah that so called ATM is running dry. F the idiots and the worthless crap.
True. 140% Debt to GDP in 4-5 years. This Administration and Congress are insane.
http://confoundedinterest.wordpress.com/2012/02/10/2012-federal-budget-o...
1. They believe there is a giant sky monster that rules our lives from the heavens.
2. They believe virgins can give birth.
3. They believe Jews are the giant sky monster's chosen people and must, therefore, be supported at all costs.
4. They believe attacking Iran on behalf of the Jews is the moral thing to do.
5. They believe that if regional hegemony can be granted to Israel in the Middle East, most/all Jews will move to Greater Israel, thereby bringing about biblical prophecy in the form of the second coming of Jesus.
6. Religiousity is a litmus test for American politicians, all must go out of their way to prove they are just as insanely delusional as the typical American
By my definition of the word, most Americans are quite literally insane. And that's why I don't argue with theists (although I will humor agnostics).
>>Disinfo shill
Just a friendly warning.
don't forget moon bases and making contraceptives illegal....yea...get caught with a dental dam get tossed in prision....retards
Hard to say. I am witnessing a bifurcation. Alot of people, both believers and not, are abandoning churches as they tell lies and can't deliver the goods in a failing society.
Which basically just leaves the idiots to continue giving their valuable time and money to preachers.
LOL MWT ++++ A picture of the 'Sky Monster' is appended. The revolution in understanding our Mytho/Religio heritage begun by Velikovsky 60+ years ago is reaching critical mass with the recent advent of plasma physics and cosmology. Plasma physics provides the science to comprehend the armageddon like events our ancestors related about the catASTROphic events happening in the heavens just a few millenia ago. The fear and very close extinction of humans then is still maybe Lamarckian like inscribed in our bones. Man up bitches it's relatively safe to use your power of reason; the end of the world story already happened and you can read all about it in the world's 'sacred' literature...
http://www.thunderbolts.info/tpod/2004/arch/040923saturn-ancient.htm
http://www.keepandshare.com/doc/2224603/talbott-saturn-theory-pdf-september-8-2010-7-29-pm-79k?dn=y
Every time the term debt comes up, you notice the dry drunk former President, George W Bush, hasn't come out of his hole in Crawford, Texas. Two unfunded wars, the Medicare Part D donut hole, and the Bush tax cuts are still in place. There's your "debt."
ALL Congressional Republicans should be out looking for jobs in the US. Take Faux Noise cameras, the ACORN pimp and prostitute, and show us exactly where the Bush tax cuts have created US jobs. If you can't, you need to be called liars, to your face, voted out of office and kept out of office. I've turned in the names of three unemployed Republican pals to the organizer of the Democrat convention in Charlotte, North Carolina. They should be put in front of a camera, with US Senator Richard Burr standing nearby, or his Charlotte office in the background, and asked how the tax cuts are helping them find a job. I would love the see the overworked staff at the unemployment office there as well.
Richard Burr = Senatorial Wall Street thug/terrorist
Bush's average budget would balance the budget this year. Who would have thunk that in three short years we'd be wishing for the good ol' days of W's budget.
Repeat after me, Yes We can. WTF, WTF WTF, Repeat WTF
Obama is guaranteed to win because the GOP/NeoCon establishment would rather have a second Obama term than see a Ron Paul presidency.
Ron Paul takes ~5% of the popular vote in November, giving Obama the edge over whichever retarded religious zealot NeoCon the GOP decides to run with.
Maybe the Paul camp should switch over to the Obama Camp. Bring the crash on while we're still young enough to do something about it, instead of dragging it out until old age. Just a thought, just a thought.... (and I really do love Ron Paul)
I waiver between voting for Paul and voting for Obama out of sheer spite. It's the last vote I'll ever be casting as an American, and I want it to be one I can live with for the rest of my life. So Paul it is.
I don't understand why people vote when the elections are so obviously rigged. But I don't understand why people go to casinos either, when they are so obviously rigged... Dumb me.
GOP- Greedy Ole Pigs
DNC= demonic national crooks.
The fundamentals of our economy are sound.
This was never supposed to happen.
Much of the problems could be solved if we had better leadership. But so far, that's not in the cards.
Never forget or underestimate the corrosive, corrupting effects of running dog, public spitting, roadside shitting Chinese citizenism, either --- nor the inevitable blobbing-up that is its eternal nature.
It doesn't matter to American who wins the next presidency because they are all cut from the same cloth. It matters to the handlers, sycophants, supporters, and payers because they are the ones who will get the trillions stolen from the Treasury.
Global Debt Crisis
The greatest private fraud of human history.
Who are the great fraudsters who are becoming the murderers of the human kind? How does the economy "illness" threaten Democracy and the freedom of people?
http://eamb-ydrohoos.blogspot.com/2012/01/global-debt-crisis.html
---------------------------------
By knowing what happened in indebted Greece, where loan sharks created “bubbles” and the current inhuman debt, one can understand the inhuman plan in total ...understand where this plan started just to bring all states at the same end ...understand how this type of plans are established...
Authored by PANAGIOTIS TRAIANOU
We're #1 !!!!
We're #1 !!!
We're #1 !!!
The downfall of North America -
was finally brought about by Bush and the neo-con liberals
and their british colonialist Middle-East policy stance in support of an increasingly radical and zionist Israel expansion into the oil-rich region that is and always has been the cause of most of the worlds conflicts to date. These radical middle-east policies are aggressively supported by the dangerously biased News Corp World-media monopoly of Rupert Murdoch, the neo-con media mogul who does much more than just hack your phones .
Rupert Murdoch is the Citizen Kane of the 21 Century and one of the most evil, vicious and dangerous neo-con media moguls alive ! Rupert Murdoch and his mate Dick Cheney and their neo-cons were the major force behind the push for the illegal invasion of Iraq and the whole mess we see today in the middle-east. It is their american enterprize master-plan for a new world order with Israel dominating the middle-east at all cost.
btw:
The media mogul Rupert Murdoch signaled his support for Rick Santorum on Monday evening,
calling him the “only candidate with genuine big vision” for the United States.
In the past the editorial pages of The New York Post and, more recently, The Wall Street Journal have been perceived to be Mr. Murdoch’s platforms for supporting (and sometimes punishing) political candidates. Twitter, of course, gives him a new and much more personal forum to do so.
Mr. Murdoch’s arguably most influential media outlet, Fox News, employed Mr. Santorum for years, but suspended him in March when he was considering running for president. The suspension was made permanent in May after Mr. Santorum agreed to attend a Fox-sponsored debate for Republican candidates.
http://thecaucus.blogs.nytimes.com/2012/01/02/taking-to-twitter-murdoch-...
http://en.wikipedia.org/wiki/Rupert_Murdoch
good night and good luck America,
you will need it!
wr;)
When an idiot is in charge of a central bank, there is no debt problem. Everything would eventually be 0 after some "non-inflationary" inflation.
http://www.msnbc.msn.com/id/46352693/ns/politics-decision_2012/#.TzbtPoH...
Ron Paul is The Man!!!
The party is over gang. They will let some of us live, if we don't riot, and if we meekly accept a life of uncomplaining slavery. The slack is gone. The juice has dried up. There is only so much luxury left to go around. There is not enough luxury left in the world for a middle class. The Ponzi gambit has run its course. That is the bottom line.
Even now, they are thinking to themselves, "I really don't want to exterminate the lot of them, but it sure isn't looking good at the moment. If Greece is the way this is going to go down.......".
I am sure the "crocodile tears" are even now beginning to well up in their eyes.
(Think this is preposterous? This is the way it has been for most of History and Prehistory).
There's an upside: good employment opportunities as sex worker with advancement opportunity to pimp or madame. If you're good.
http://blogs.wsj.com/economics/2012/02/07/chinas-road-to-becoming-a-rese...
Wow.
Delegate count according to me:
Romney 104
Paul 40
Gingrich 37
Santorum 35
Now if Newt and Rick would just drop out and give us a real race....but looking more like a brokered convention all the time. Romney now polling in third in Georgia and Ohio a toss-up.
Romney 176
Paul 40
Gingrich $4M
Santorum $6M
With all the boomers retiring increasing the debt to over $24 trillion shouldn't be a problem. That might be conservative. Nobody wants to face the deficit until it blows up in their face.
Here's Bloomberg's report on Obama's new budget proposal and outlook for the next few years:
http://www.bloomberg.com/news/2012-02-10/lawmakers-look-to-november-elec...
"The administration forecasts this year’s deficit will be $1.3 trillion, or 8.5 percent of the nation’s gross domestic product. The budget shortfall would eventually drop to as little as $575 billion, or 2.7 percent of GDP by 2018, according to an administration summary"
I loved the part about: "deficit would eventually drop to as little as $575 billion ... by 2018
As little as $575 billion - jesus, we never saw deficits like that until a few years ago. Now getting down to that in another 6 years is like mecca.
Ron Paul, bitchez!
$24 Trillion...lots of dough to print.
Time to make the doughnuts !!!!!
http://www.youtube.com/watch?v=XyZtMfMWONI
The more they print the less the money's worth, the less the money's worth the more they have to print.
No way out now.
Time to move on. I dont have any money. In other news, Whitney Houston died. RIP
She was a decent singer, she had talent. She created what she could and has now left a seat at the table for somebody else. I'll honor her.
Not like your typical obese black woman who persists on food stamps and section 8 and hospital admissions, and does nothing much in particular other than pour out kids with the baby daddy of the moment.
....and we all heard how "effective" the new STOCK Act legislation will be. (NOT)
Any chance we can ALL wake up long enough to VOTE THEM ALL OUT?
Yes EVEN our OWN crooks. It's not like ONLY the elected reps from OTHER states are polluted.
Fun for all ages. Play Kick Obama's Ass! http://thecivillibertarian.blogspot.com/2012/02/play-kick-obamas-can.html
You're all just missing the bigger picture - he got rid of earmarks!
That's gotta count for somefing.
He promissed he would do it and he darned-well made good!
Change has come to AmherEeka bitchez!
/sarc
Loan sharks knew that if they took the dollars printing machines under their control they could suffocate the world ...they could initially suffocate USA and after taking the USA from the Americans, they could move and suffocate the whole world and take the countries from their people.
FED printed cheap money and loansharking multiplied this money in an unnatural way within the American economy boarders and they discarded them abroad so that they did not threaten USA. USA became the first state in the world with artificial “breathing”...
It cannot be possible but just in the USA for only the last year, more than one million houses were seized. It cannot be impossible but the New World has returned to tents and shelters ..has returned to the ages of Columbus. It cannot be possible that we allow to a few loan sharks looting the toils and the assets of people...
http://eamb-ydrohoos.blogspot.com/2012/01/global-debt-crisis.html
------------------------
Global Debt Crisis
Authored by PANAGIOTIS TRAIANOU
"""Apple's $1 trillion market cap will account for 150% of the Nasdaq... just as IBM is 125% of the DJIA"""
How´s that?
"""Apple's $1 trillion market cap will account for 150% of the Nasdaq... just as IBM is 125% of the DJIA"""
How´s that?
You skipped the directions that tell you to not stare directly at the debt clock. Your alarm is one of its unwanted side effects. Take two Valium and you will be better in the morning.
I'm already behind the curve, I thought the CURRENT total debt was $54 trillion (currently $56 1/2) and unfunded $114 trillion (currently $117 1/2)...
Still, what's a few trillion between friends?
DavidC
What if instead of "end the fed" we just taxed the fed? It would accomplish two things in one: transparency and lessening govt debt. Thoughts?
Are we really going to pull a u turn and grow our way out of this debt?!? Wait thats not an option. Well so what are we waiting for?? Lets get this party started!!!