Obama’s new director of the Office of Management and Budget at a Senate Hearing. Jeff Sessions questions her about claims that the government can afford it’s current budget and pay down the debt at the same time. Higginbottom struggles desperately to defend statements about the budget made by Obama and herself.
During 09-10, Obama added $4.5 Trillion to the National Debt. During this time period, the ratio of debt to GDP increased by 21 percentage points to 84%.
At the rate Obama is increasing the debt, it will exceed the Gross Domestic Product by February 2013. Greece and Italy let their debts exceed the GDP and look at them now!