The annual Federal budget deficit has never exceeded 6% of the Gross Domestic Product (GDP) except during the Civil War, WW I and WW II. Thus far it has exceeded that level in every year of the Obama Administration. If he is reelected we can expect that level of spending to continue. This is magical thinking and it cannot continue. We are not at the level of Greece yet, but by the end of a second Obama term we would be. Greece is probably over the falls for a variety of reasons; sad but true. The fallout, though, will hopefully be a cure for this magical thinking because it is going to be ugly. Live and learn.
www.weeklystandard.com/blogs/painful-cost-obama_629745.html
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