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Wednesday, April 14, 2010

FED Chairman Ben Bernanke Says Federal Debt as Percentage of GDP Could Top 100% by 2020 - Video 4/14/10


Here is video of Federal Reserve Chairman Ben Bernanke today where he testified in a Capitol Hill hearing that the Federal Debt - as a percentage of GDP (Gross Domestic Product) could rise to "more than 100%" by the year 2020:

"Under an alternative scenario that drops those assumptions, the deficit at the end of 2020 would be 9% of GDP and the federal debt would balloon to more than 100% of GDP."

Keep in mind, that is without taking into account the disastrous drain that ObamaCare will end up being on the Federal Government, despite all of their rosy predictions.

This is precisely why Charles Krauthammer said we must begin now to head this off, or the United States will be Greece in 10 years.

Via Weasel Zippers

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