Archive of posts tagged trillion

Obama Raises National Debt Over $15 Trillion

Obama has increased US debt to over $15 trillion

Obama has increased US debt to over $15 trillion

Thanks to the Obama administration’s out-of-control overspending, and dangerous liberal policies, the United States’ National Debt has now passed the $15 trillion mark!

Many people will try and say that President Bush is the reason for our out of control national debt, but the Obama administration has already spent more of our money, in one term than, President Bush spent in two terms.

When will the American People stand up to Obama and make him stop the payoffs and paybacks to his political friends and supporters?

The Financial Report of the United States, which applies corporate-style accrual accounting methods to Washington, showed the government’s liabilities exceeded assets by $14.785 trillion. That compared with a $13.473 trillion gap a year earlier.

However, the government’s net operating cost, or deficit, in the report dropped to $1.313 trillion for the year ended September 30 from $2.080 trillion the prior year, largely reflecting a drop in expected future payments under government pension programs.

“Restoring fiscal $1.313 trillion sustainability will require substantial additional changes, including tax

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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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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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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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Charles Krauthammer: ‘Call Obama’s bluff’

Charles Krauthammer is, by far, the smartest political mind in the media today, and he hits the nail right on the head in his new piece titled “Call Obama’s bluff”.

Mr Krauthammer goes after Obama’s assertion that he would not sign any deal less than 120 days, but has no plan of his own to deal with entitlements and the current Obama budget crunch.

I agree with Mr Krauthammer ! The GOP should pass their budget plan in the House and then wait and see what happens in the Senate. If it fails there, blame will be mainly placed at the feet of the Democrats.

President Obama is demanding a big long-term budget deal. He won’t sign anything less, he warns, asking, “If not now, when?”

How about last December, when he ignored his own debt commission’s recommendations? How about February, when he presented a budget that increases debt by $10 trillion over the next decade? How about April, when he sought a debt-ceiling increase with zero debt reduction attached?

All of a sudden he’s a born-again budget balancer

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