ABOUT ME

 

Nick Ragone is an author, attorney and public relations executive in New York City. He earned a bachelor’s degree in history and political science from Rutgers University, and is a graduate of the Eagleton Institute of Political Science at Rutgers University (undergraduate) and the Georgetown University Law Center.

He is the author of three books: Essential American Government, Everything American Government, and President's Most Wanted. Nick is a regular contributor to the Fox News Channel and Fox Business, the PIX11 Morning Show, and has a weekly appearance on the popular Raph Bailey Radio Show.  He co-anchored PIX11's five-hour live inauguration coverage with Jim Watkins and Kaity Tong.

Nick is a contributor to Donklephant.com, one of the most influential political blogs on the web, and  has written for US News & World Report, The Star-Ledger, Real Simple Magazine and RealSimple.com.  Nick has been quoted in over two dozen stories on politics, the presidency, and public relations.  In December of 2007, Nick was named one of PR Week's 40 under 40 to watch, and in May of 2008 was featured in "Profiles of Success", a book about public relations. Nick lives in Jersey City, NJ, with his wife and two children, and spends what little free time he has obsessing on the Mets.

Nick can also be found on Facebook. http://www.facebook.com/profile.php?id=740817853


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« AIG bonus brouhaha could be Geithner's undoing | Main | Chuck Grassley unplugged (and unhinged) »
Wednesday
Mar182009

It's 7:25 am and I just ruined your day

It's official ... our national debt has now hit a mind blowing staggering $11 trillion.  That's basically the size of our economy, more or less.  By the time President Obama's first term is over, our debt will have surpassed the size of our economy. 

I'm not an economist, and I don't play one on tv, but the little I know about macro-economics points to this being a bad, bad thing.  I don't want to get technical here, but the best way to describe it:  rut-roh. 

Long term it means the cost of borrowing will be higher, the value of the dollar will be less, and it severely limits the investments we can make in healthcare, education, and energy.   And keep in mind:  this is before the explosion in Medicare, Medicaid and social security spending that will come due when the baby boomers start retiring en masse.

And the talk in Washington is about a second stimulus plan? Makes no sense at all ...

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Reader Comments (5)

trust me, we will be fine

March 18, 2009 | Unregistered Commentermitch

Hope and Change, right Mitch?

March 18, 2009 | Unregistered CommenterTR

right on. in obama i trust

March 18, 2009 | Unregistered Commentermitch

Really Mitch? How about little Timmy? He hasn't exactly been doing a bang up job...

March 18, 2009 | Unregistered CommenterAlan

Little Timmy is about to join the unemployed

March 18, 2009 | Unregistered CommenterNick Ragone

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