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Showing posts from December, 2011

Someone turn out the lights, we're out of here! (never mind, they'll get turned off soon enough)

Well. we did it. An incompetent congress, directed by an incompetent president has taken our national debt to a whole new record! Sometime this week (as I write this on Dec 23, 2011) our national debt has exceeded our GDP. Now some of you do not know what a GDP is. (some of you don't care, but then you shouldn't be reading this - move on to some of my light hearted ones - they get all the hits anyway). GDP, or Gross Domestic Product is the total of the value of all the goods and services produced/performed in the U.S. combined with the value of all the goods produced and exported, minus the value of the goods imported. Or,  GDP = private consumption + gross investment + government spending, + (exports - imports).   There are other ways of measuring GDP, but in theory at least they should all add to the same number. What really bothers me is this travesty occurred while Congress was battling over extending a social security tax suspension for two months. TWO FREAKIN' MO