Archive of posts tagged debt limit

Treasury: U.S. Borrowing Over 100% of GDP After Debt Ceiling Increase

The debt ceiling increase has helped raise our borrowing over 100% of GDP for the first time since 1947!
“The last time US debt topped the size of its annual economy was in 1947 just after World War II. By 1981 it had fallen to 32.5 percent.”

We are now borrowing $14.58 trillion, with a GDP of $14.53 trillion, showing that the Obama administration has no useful ideas, no experience, and no clue how to run a Capitalistic Democracy.

US debt shot up $238 billion to reach 100 percent of gross domestic project after the government’s debt ceiling was lifted, Treasury figures showed Wednesday.

Treasury borrowing jumped Tuesday, the data showed, immediately after President Barack Obama signed into law an increase in the debt ceiling as the country’s spending commitments reached a breaking point and it threatened to default on its debt.

The new borrowing took total public debt to $14.58 trillion, over end-2010 GDP of $14.53 trillion, and putting it in a league with highly indebted countries like Italy and Belgium.

Public debt subject to the official debt limit

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Debt Ceiling Sham Will Not Help Debt Or Stop Obama’s Over-Spending Binge

The more details that come out about the debt ceiling deal struck between the Republicans and Democrats, the more it seems that the deal will not help our nation’s debt problem, or stop Obama’s rampant over-spending binge. In fact, it will most likely make things much worse.

“The Congressional Budget Office currently projects that $9.5 trillion in new debt will have to be issued over the next 10 years. Even if all of the reductions proposed in the deal were to come to pass, which is highly unlikely, that would still leave $7.1 trillion in new debt accumulation by 2021. Our problems have not been solved by a long shot.”

We need to take away Obama’s Blank Check, and in order to save The United States, work to remove as much of the corruption from Washington in 2012! THE CLEAN-UP STARTS WITH OBAMA!

By supposedly compromising to raise the debt ceiling, Congress and the President have now paved the way for ever higher levels of federal spending. Although, the nation was spared the trauma of borrowing restrictions, the actual risk

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Inept, Gaffe Master, Joe Biden Calls Tea Party Patriots “Terrorists”!!

Up until a few weeks ago, I always thought that Joe Biden was a pretty honest Democrat in a sea of corrupt, un-trustworthy, socialist, jackasses, who want nothing less than to run our nation and it’s economy straight into the ground. But after Biden’s last “terrorist” remark, aimed at Tea Party Patriots, I now put Biden in the same unhinged, partisan jackass column as the rest of the Democrat Culture of Corruption.

Jackass Biden said that the Tea Party Republicans “have acted like terrorists”, when, if ANYONE has acted like a terrorist, it is Obama and the Democrats. Democrats caused every bit of the problems we are currently facing, and actually WANT our nation’s economy to crumble, and they have done everything in their power to make it happen.

Anyone who lies over and over to the American People, throws the Trillions of our dollars down the toilet, socializes large portions of the U.S. economy, and crashes the rest in a ball of flames, and then wants to spend more of our hard-earned money, with no idea how to fix …

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Obama Reponsible For 2 Largest Debt Ceiling Increases In U.S. History

I didn’t realize that before Obama got shoved into office, the largest debt increase was done by President Bush on March 27, 2003, and Bush only raised the debt ceiling by $984 billion.

The two largest debt ceiling increases have come from the Obama administration, in back-to-back years. Obama’s debt ceiling increase last year was the largest in the history of our country, and this new increase beats his old record by around $500 Billion.

So in two years, Obama has raised our debt ceiling $4.2 Trillion!!!!??? It makes sense, now that have to start paying for Obama’s out-of-control over-spending, which caused our financial mess in the first place.

Lets all work hard to get this out of control socialist idiot out of office as soon as possible!!!

The bill to increase the federal debt limit that has been put before Congress today would increase that limit by up to $2.4 trillion, which would be the largest increase in the debt limit in U.S. history by a margin of half a trillion dollars, according to records published by the Government

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Debt Ceiling Plans: Republicans 3, Democrats 0

The House of Representatives has passed their second of three debt ceiling / debt reduction bills, while Obama and the Democrats sit on the sidelines, with no plan of their own, criticizing Republicans for the hard work that they have had to undertake, with no help from the so-called Democrat “leadership” at all.

I’m convinced that Democrats want our country to go into default on our debt because that makes it much easier for Obama and the Democrats to impose their socialistic beliefs on us. Harry Reid has even said that the House plan is “Dead on Arrival” without even seeing the plan, and with no ideas of their own, other than to tax the crap out of U.S. Citizens.

With the U.S. moving perilously closer to defaulting on its loans, the House passed an increase in the federal debt limit as part of Speaker John Boehner’s third version of a deficit-reduction bill, which includes a balanced budget amendment — a pivotal provision for securing the support of hard-line Republicans.

The bill passed in a 218-210 vote, with all House

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Coward Senate Majority Leader Harry Reid Vows To Kill Republican Debt Plan To Continue Gridlock

Screw You Too Harry! This jackass Democrat, Harry Reid, must be removed from office in the next election, and we will be giving a lot of money to anyone who will try kicking his corrupt ass out of the Senate!

Republicans are really the only party who are honestly trying to come up with plans to deal with Obama’s out-of-control spending binge. The Republicans have passed one bill in the House, and will most likely pass another bill tonight. The corrupt jackass Senate Majority Leader Harry Reid has promised that the Democrats will kill the bill though, so all of the work and time spent will be for nothing.

Looks like it may be true that the Obama and the Democrats actually WANT our nation to default on our debt so that they can remake it into their ideal socialist nation.

House Republicans are just wasting their time debating Speaker John Boehner’s debt reduction bill, Senate Majority Leader Harry Reid said today.

“Boehner’s bill dies tonight,” Reid communications director Adam Jentleson wrote on Twitter. “Forever.”

The House of Representatives is

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Racist Rep. James Clyburn Urges Obama To Use Executive Order To Raise Debt Ceiling

Racist South Carolina Rep. James Clyburn shows how much he knows about the constitution when he urges Obama to bypass the Congress, to use an Executive Order invoking the 14th Amendment to raise the debt ceiling without approval of Congress.

This is the same jackass who said that the problems that the “president’s problems are in large measure because of the color of his skin.”, likened using an Executive Order to raise the debt ceiling to the Emancipation Proclamation, and was also one of 31 Democrats who voted in the House not to count the electoral votes from Ohio in the 2004 presidential election, because it would have given John Kerry a better chance of winning the election. So who would listen to this idiot?

Even Obama has said that raising the debt ceiling with an executive order is not an option, and is off the table, but he also said that he “talked to my lawyers” and “they are not persuaded that that is a winning argument.”. So if it were possible, he would have already crammed their increased …

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Whack-Job Democrat Rep. Barbara Lee Is Out Of Touch With Reality

Democrat Rep. Barbara Lee’s attack on Republicans is a feeble attempt to push blame for our current financial situation away from those who actually deserve it, like the Obama administration and Democrats who increased our nation’s debt by $4 Trillion in his first 19 months, which historically is more than all previous Presidents from Washington through Reagan COMBINED.

Barbara Lee (D-Calif.) is a complete wacko nut-job, who probably needs to take her medication and go lay down somewhere. At least until she comes back to reality, or gets removed from office. Seeing how completely out-of-touch with reality Democrat Rep. Barbara Lee really is, it would be best for the country if she was removed from office.

Sounds more like an idiot Rep has no clue about what is going on, and is just sticking up for Obama and her party’s destruction of our economy, jobs, housing, and just about everything else they have touched.

Rep. Barbara Lee (D-Calif.) released a statement Monday saying the “debt crisis” has been “manufactured by House Republicans” who are “attempting to advance an extremist agenda.”

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