No very well grounded in reality I think you are missing the point. When Obama came into office he was handed a bill a 12 trillion dollars. Yet you want to heap all the blame on him. When 3 Republican presidents spent about 10 trillion of it. Top that off with a bunch of people that had no term limits with money getting stuffed into their pockets it creates a bad situation. This was not Obama fault, frankly if you clould not see this happening in the mid 80's you are the one living in fantasy land. At some point the bills have to be paid. The problem with a majority of people by the time they woke up the damage was done. Now if you want to beat your drum that Obama caused all this who is the one not living in reality??? I plainly stated that about racked up 5 trillion but was handed a debt of 12 (which you failed to understand). Go ahead and keep your head under the sand and blame the next president, after all that is what you are doing now. You cannot stop this monster it was let out of the bag along time ago. Simple fact are the people to blame are the ones that voted in these guys in the first place. I have only voted in three election so honestly I take no part in what happened in the past. However, there are more than a few on this forum that moan and complain day after day yet they voted these heavy spending monster in. So it called blame those people! The first President that almost tripled the debt should have been enough but oh wait they let three other ones do right behind them. hypocrits
America is awash in a debt it cannot possibly repay.
The US government is not able to generate enough in taxes to run the government and service the interest on the debt.
They have no way to pay the interest, pay down the principal on the debt, and fund on going government processes.
The constant wars are being fought on more borrowed money....after all these cutbacks how can we afford some more adventures in the ME? obama will soon be asking congress for more money to fund this nonsense. Watch and see.
When you are borrowing just to pay interest, and fund current operations you are in essence bankrupt.
Our government can't even print more money. They have to borrow it from the Federal Reserve system.
The more money the Fed prints out of thin air the less the money in circulation is worth.
This process steals the money that bond holders lent to them, and destroys the value of the savings of their citizens.