Here’s a troubling forecast courtesy of House Minority Leader John Boehner (R-OH):
… our national debt ($12.7 trillion today) is on track to exceed the size of our entire economy (about $15 trillion) in just two more years.
At first it may seem to be hyperbole, but PolitiFact has confirmed it:
Still, we consider Boehner’s statistics valid. While he underestimates the size of the projected debt in 2010 and 2012, his assertion that “our national debt … is on track to exceed the size of our entire economy … in just two more years” is on target, according to the president’s own Office of Management and Budget. So we rate his statement True.
Here is a running total of our debt right now. Depressed yet?