American owes more than triple the Germans

More reasons that American grown long: costly wars and šurovanje George Bush with the rich - are just some of them. Now, everything falls back to the Democrats - Obama's cabinet, which must be put out fires. And it is not easy.

U.S. debt amounts to almost ten percent of the GDP of the country and the highest since the Second World War. Even worse, if we continue this pace up for ten years, the debt will be even GDP.

Because of the huge deficit of 1.400 billion dollars, the budget deficit is now three times higher than in the previous fiscal year; in pretprošloj had already doubled. The dramatic growth of debt inheritance from the Bush era, when taxes are reduced to the rich, billions spent on the war in Iraq and made the first rescue package of Wall Street. Now that the Republicans would be all to forget.

"How many more alarm bells should ring before Obama's party friends in Congress do something to stop borrowing", he said, for example, Republican Congressman John Bener and added: "We can not continue to burden the burden of debt on the backs of our children's children .



Obama had to save banks

For comparison - the new budget deficit of 950 billion, the debt of every American has increased by 3160 euros, every German, despite record foreign debt, obliged to little more than a thousand euros. Obama is aware of the seriousness of the situation, but because of his unemployment and weak economic activity trying to enlarge a small possibility.

"The complete standstill in the U.S. economy earlier this year Obama had no other option but to allocate billions for stimulating the economy and rescue the banks," said economic analyst Bill Radke, and Maja MekGinis analyst warns: "To put under the control of debit President Obama has to increase taxes and reduce spending. "