PolitiFact: Judd Gregg on Obama's Budget- True!

Trinity

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Politifact: 2009 Pulitzer Prize Winner

Obama's budget plan would "take national debt up to about 80 percent of gross national product. ... Historically, it's been about 40 percent."
Judd Gregg on Wednesday, March 25th, 2009 in a Fox News interview

Judd Gregg says Obama's budget drives national debt to 80 percent of GDP


The Truth-O-Meter Says: True!

Regardless, Gregg is right that 82 percent would be remarkably high and put the country in unenviable company.
So why should we care?
If the debt-to-GDP level were to go to 82 percent, Heritage's Riedl said, "It's a simple fact that interest rates would go through the roof."
Moreover, he said, it would be harder for companies to borrow money; harder for people to get mortgages. It would decrease productivity and overall economic growth.
"It's just not a sustainable ratio," Riedl said.
Jonathan DeWald, a spokesman for the Concord Coalition, a nonpartisan organization that specializes in analysis of budget deficits, also cautioned that as interest rates increase in coming years, interest payments on the growing national debt will continue to eat up more and more of the overall budget.
PolitiFact.com
 

Pitbull

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But it is Obama's budget.
So it will be good.
Right?

And with all the good democrats in congress running the show,
it doesn't matter because everybody's taxes will go down except for the rich.
Right?

And economic reality doesn't matter.
Because we now have hope.
Right?

Isn't this change I can believe in?
 

pym

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Oh don't worry so........you only have 7 & 3/4 years of Obama to go!
Irrelevency is a bitch......Huh?
 

Trinity

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Is that the smell of "bitter" in the air? :rolleyes:

It never ceases to amaze how much Obama supporters will excuse for Obama but if this were Bush or McCain these policies would be unacceptable. How can you call yourself a reasonable person and ignore the facts presented here? The debt to GDP ratio that Obama is putting America into is not sustainable.
 

B_VinylBoy

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It never ceases to amaze how much Obama supporters will excuse for Obama but if this were Bush or McCain these policies would be unacceptable. How can you call yourself a reasonable person and ignore the facts presented here? The debt to GDP ratio that Obama is putting America into is not sustainable.

I'm not here in this thread defending anyone or discrediting anything from your biased source. It's pointless to do so because you believe it wholeheartedly and won't even open your mind for debate. But beyond that, where in that comment you quoted of mine call out anyone in particular? Where did I mention Democrat or Republican? Where did I mention Obama? Where did I mention Bush, McCain? I didn't. However, it's blatantly obvious why you create anywhere to 5 threads a day on political rhetoric that tries to smear a political party or person.

And by the way, it never ceases to amaze me how YOU, of all people, seem to forget that I was rather critical on Obama in the very beginning. Remember? I voted Hillary Clinton during the Primary... the same woman you ALSO wanted in office, or so you said.

So really, Trinitroll, kindly STFU. None of these PolitiFacts affect me, my way of life, and I'm SURE it doesn't affect you. Get a fuckin' life already.
 

Trinity

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SilverTrain

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Eh, more fucking up in what is becoming the worst first 6 months of an American presidency, if not the most polarizing.

That's either the most simplistically partisan parroting ever,

or the most ignorant and stupid comment ever.

One or the other. Really.