Why Obama is Wrong About the Debt in 5 CHIFs (Which are Charts Made of GIFs) Digital | March 12th, 2013
Last night, in an interview with ABC News’ George Stephanopoulos, Obama answered a flat “no” when asked whether or not he would propose a plan to balance the budget. What’s even worse, is that he doesn’t believe we even have a debt crisis:
Three times the President told @gstephanopoulos that there is no debt crisis.
— Jonathan Karl (@jonkarl) March 13, 2013
First, they said there was no spending problem, now Democrats deny there’s even a debt crisis.
But the facts say otherwise. This chart shows that even with President Obama’s tax hikes, we don’t even come close to solving our debt problem. It’s clear that we do have a debt crisis and that the main driver of our debt is government spending.
So not only is our debt a problem right now, but it’s actually going to get worse over time if we don’t cut spending:
Under President Obama’s plan, the budget NEVER balances. Ever. Under Paul Ryan’s budget, the budget balances within 10 years.
If the country continued on Obama’s path, the government will continue to operate at a significant loss each year:
Currently, our budget spends about $900 billion more than we take in. As you can see, under Paul Ryan’s plan, the government would have a surplus (!) in 10 years.
What you want to do is keep spending on a sustainable path. Historically, we’ve kept spending at about 19% of our entire economy each year. Paul Ryan’s plan returns to that rate, while Obama continues spending well above it. Forever.
The facts are on Paul Ryan’s side and he needs you to be too. Democrats are denial over what is clearly a serious spending-driven debt crisis. Moreover, Democrats will try to scare Americans into thinking we shouldn’t cut spending. So stand with Paul Ryan and help us fight back. Co-sign his budget today: