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Thinking Outside the Box: Let’s Lower the Debt Ceiling

Written on:July 9, 2011
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The United States ranks last among all nations in the world when it comes to its current account balance, astronomically lower than every other economy, the CIA reports.

According to the most recent figures in the CIA World Factbook, America sits at the bottom of 191 nations, with a listed account balance of an astonishing negative $561 billion.

The list is too long so I will give the top 10 and bottom 10 of the 191 countrys.

1 China $ 272,500,000,000 2010 est.
2 Japan $ 166,500,000,000 2010 est.
3 Germany $ 162,300,000,000 2010 est.
4 Russia $ 68,850,000,000 2010 est.
5 Norway $ 60,230,000,000 2010 est.
6 Saudi Arabia $ 52,030,000,000 2010 est.
7 Switzerland $ 49,350,000,000 2010 est.
8 Netherlands $ 46,690,000,000 2010 est.
9 Singapore $ 44,080,000,000 2010 est.
10 Taiwan $ 39,000,000,000 2010 est.
.
.
.
181 Portugal $ -19,030,000,000 2010 est.
182 India $ -26,910,000,000 2010 est.
183 Australia $ -35,230,000,000 2010 est.
184 Turkey $ -38,820,000,000 2010 est.
185 Canada $ -40,210,000,000 2010 est.
186 United Kingdom $ -40,340,000,000 2010 est.
187 Brazil $ -52,730,000,000 2010 est.
188 France $ -53,290,000,000 2010 est.
189 Italy $ -61,980,000,000 2010 est.
190 Spain $ -66,740,000,000 2010 est.
191 United States $-561,000,000,000 2010 est.

Notice the small gap between 190 and 191.

The U.S. is not at the bottom of every CIA list. In fact, it’s ranked No. 1 in the world when it comes to external debt.

With a whopping $13.98 trillion as of June 2010, the U.S. holds the dubious distinction of top debtor, just ahead of the European Union, whose debt is listed at $13.72 trillion.

1 United States $ 13,980,000,000,000 30 June 2010
2 European Union $ 13,720,000,000,000 30 June 2010
3 United Kingdom $ 8,981,000,000,000 30 June 2010
4 Germany $ 4,713,000,000,000 30 June 2010
5 France $ 4,698,000,000,000 30 June 2010
6 Japan $ 2,441,000,000,000 30 September 2010
7 Ireland $ 2,253,000,000,000 30 September 2010
8 Norway $ 2,232,000,000,000 30 June 2010
9 Italy $ 2,223,000,000,000 30 June 2010 est.
10 Spain $ 2,166,000,000,000 30 June 2010

Yep we have BIG problems indeed. The first thing out of their mouth is we will have to cut Social Security and Medicare. No ever, never has floated the idea of cutting a bit of foreign aid to Gaza, grant money to research monkey sex on cocaine, the NEA to display crucifixes in a toilet. How about cut down a bit on weekly parties at the white house, never ending vacations that they take 100 people with them on our dime and what do ya think it cost you to send the secret service to a golf course every weekend. He told me he would freeze pay raises for his staff, LIE! Every single member of his staff got pay raises that average 3%, some to the tune of a 40K a year raise. Alas we are simply fly over people, nothing but the best for our king and his impudent court known once upon a time as the “Congress”. What’s up with this new 1 year “the tax payers will pay your mortgage” business that is going into effect Aug 1. And he is STILL giving money to ACORN against FEDERAL LAW that congress mandated, oh I forgot he ignores congress, over $59,000 to a Florida chapter in April!
I predict Obama will raise the dept ceiling on or before Jul 25th telling the American people Congress cannot get the job done. His authority will the the reinterpretation of the Constitutional that due to congressional dead lock he has the power to act. I actually think he can’t wait to do it, to demonstrate to the world who runs this country, to end congressional power once and for all and to send a strong message to the American People that he has total control.

Article source: http://arizonateaparty.ning.com/xn/detail/3203237:BlogPost:280663

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