Massive Federal deficits require higher taxes; ever-expanding public debt and higher debt service sets up a death spiral once new investment is crowded out by Federal borrowing.
GDP in 2008 (recession starts): $13.31 trillion
GDP in 2009 (recession officially ends in mid-2009): $12.88 trillion
GDP in 2010: 13.04 trillion
2010 $2.16 trillion
2010 $3.72 trillion
|Thank you, Wade P. ($50), for your wondrously generous contribution to this site -- I am greatly honored by your support and readership.||Thank you, William S. ($5/mo), for your extremely generous subscription to this site -- I am greatly honored by your support and readership.|