In the next couple of years, Pres BO will face a crisis like no other.
We call it debt!
We call it BO debt!
In The next great crisis: America's debt, Shawn Tully, senior editor at large at FORBES, explains where we are headed on "BO's ship of debt":
"The bill is far too big for only the rich to pick up.
There aren't enough of them.
America will have to lean on citizens far below the $250,000 income threshold: nurses, electricians, secretaries, and factory workers.
Within a decade the average household that pays income tax will owe the equivalent of $155,000 in federal debt, about $90,000 more than last year.
What the Obama administration isn't telling Americans is that the only practical solution is a giant tax increase aimed squarely at the middle class."
We agree with Gov Palin: Kind of a ‘we told ya so’
