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debt increase under obama

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This is a brief overview of the current state of the U.S. economy, how we got here, and where we are heading.

CURRENT STATE OF U.S. ECONOMY:

Nominal GDP (mesured in billions of U.S. dollars) :
1	 United States	14,526,550
2	 China,          5,878,257
3	 Japan	         5,458,797
4	 Germany         3,286,451
5	 France	         2,562,742
6	 United Kingdom	 2,250,209
7	 Brazil	         2,090,314
8	 Italy	         2,055,114
9	 India	         1,631,970
10	 Canada	         1,577,040
11	 Russia	         1,479,825
12	 Spain	         1,409,946
13	 Australia       1,237,363
14	 Mexico	         1,034,308
15	 Korea, South	 1,014,482
16	 Netherlands	 780,668
17	 Turkey	         735,487
18	 Indonesia       706,752
19	 Switzerland	 527,920
20	 Poland	         469,401

Average Full Time Year Round Equivalent Gross Wages & Salaries (PPP)
1	 United States  51,493
2	 Luxembourg     50,610
3	 Switzerland    47,810
4	 Australia      45,385
5	 Netherlands    45,161
6	 Ireland        45,160
7	 Norway         43,607
8	 United Kingdom 43,250
9	 Denmark        42,173
10	 Belgium        41,923
11	 Austria        41,421
12	 Germany        37,544
13	 France         37,269
14	 Sweden         35,582
15	 Finland        34,903
16	 Spain          32,957
17	 Japan          32,816
18	 South Korea    32,638
19	 Italy          32,121
20	 Greece         27,460


HOW DID WE GET HERE?
By just about any rational economic measure, the United States is the envy of the world. It's little wonder why people risk their lives to enter the U.S. for a chance at a better standard of living. The principles behind the U.S. great success story are free capitalism, a Christian work ethic, and a democratic government that adheres to the Constitution which protects our rights. Below is an excellent video essay on the role capitalism played in improving peoples lives.



WHERE ARE WE HEADING?
In only three and a half years, the socialist policies of the Obama administration has increased our federal debt by more than all previous presidents COMBINED. ($4.2 trillion under Obama vs $4.1 trillion accumulated by all 41 U.S. presidents from George Washington through Geore H.W. Bush. The average American relying on federal government assistance now receives more in benefits than the average Americanís disposable personal income. That's quite a drastic shift in position from 2006 when he claimed George Bush was an unpatriotic American for inreasing the debt by a fraction of that amount spread over eight years. On the rare occasions that Obama is confronted with these facts by liberal media, his defense is to tout the three million jobs he claims to have created. Even accepting his accounting of number of jobs created, the cost breaks down to over $312,000 PER JOB.

To see the ultimate conclusion to such policies, one need only to look at the recent events in Greece. There, liberal socialist politicians have competed against their opponents by outpromising and outspending them on entitlements. Now, Greece is hopelessly bankrupt and it's citizens are rioting in the streets over the entitlements they can no longer receive. My question: who exactly are they angry at? The conservative leaders that warned them all along of the overspending, or the liberal politicians and unions that promised them the moon just to get their votes?







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