Obama Raises National Debt Over $15 Trillion
Obama has increased US debt to over $15 trillion
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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