If there is ONE thing that the typical US citizen has learned in the last 18 months or so, it is that 'too much debt creates big problems.'
Every day, several times a day, the typical US citizen sees the pictures and reads the stories: foreclosures, bankruptcies, 'medications or heating' vignettes...
And the typical US citizen has reacted. Retail sales have been on the downslide for almost a year; the auto industry has reduced its forecast for 2009 sales (again) to 10.5 million units; lumber is aging in the ground, not in papermaking plants nor building-products yards; restaurants are closing or looking for life preservers....we could go on.
Obama and his Lefty pals, however, are going in precisely the opposite direction, adding debt to the US' books at a rate which reminds us of the WWII era. No Runny reports that
Obama’s plan shows us increasing debt as a % of GDP every year of his forecast reaching 101% of GDP by 2019! This after increasing revenues (taxes and such) 76% during that same time frame...
That's why the above graph is portentous. The typical US citizen understands that the ObamaPlan is weighted to debt--a LOT of debt--and doesn't think this is good for the country. And the typical US citizen can figure out that somebody is going to pay this damn debt.
Yup. They are in the 10-ring, and they get it.
HT: PowerLine
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