National Debt: Argentina Here We Come!!!!

Tim Knight over at the "Slope of Hope" blog states that the "U.S. National Debt was $930 billion in 1980, or 33 percent of GDP. Today, it is $10.7 trillion, or 76 percent of GDP. The National Debt has grown by 1,150 percent in 28 years. With the planned fiscal stimulus (taxing future generations), the National Debt will reach 100 percent of GDP during the Obama administration. When Argentina's economy collapsed in 1998, their National Debt as a percentage of GDP was 65 percent. The Great Deniers say we are not Argentina. They say we are safe because the U.S. dollar is the reserve currency of the world. This is like jumping off a 20 story building and as you pass the 10th floor someone yells out the window asking how you are doing. You answer, "Good, so far"."