The national debt under President Obama has increased just under $7 trillion in just over 5 years in office. Current national debt is $17.5 trillion ($17,568,135,600,000), at the beginiing of President Obama's term the national debt was $10.7 trillion ($10,699,804,864,000). He is on track to add $11 trillion to the national debt in his 8 year term - yes, you read correctly, he will double the national debt and will leave us with more debt than all president's before him combined.
As unfathomable as this is I ask what others think the national debt would be if democrats had maintained control of the house? My guess is that President Obama's cronies would of been made much richer than they already have been made & the debt would have already surpassed $20 trillion.
Re: How Much?
The United States has gone to the dark side. Prepare yourself for when it all comes crashing down. Prepping, I think they call it.
When the president's critics spin this, they'll say, "The deficit was over $1 trillion again," and that will be accurate. What the criticism fails to note, however, is that (a) the deficit is now much smaller than it was when Obama took office; (b) this is the smallest deficit we've seen in four years; (c) this new figure represents an improvement of over $200 billion since last year; and (d) the main drivers of the remaining deficit are Republican policies.
Re: How Much?
Re: How Much?
If you think that the liberals are the evil ones who spend spend spend and that your party really has all the answers and just need to get back in power and all will be good, WHY did the debt go from about $4.5 trillion to almost $10 Trillion when you guys were in control of the purse strings??? Why didn't it go down? ANSWER that!!!
Because the government was run by liberal.
Fact is, in 8 yrs W took the nat debt from $6 Trillion to $10.5 Trillion. 0bama added $7 Trillion in 6 yrs! let me repeat $7 TRILLION IN 6 YEARS!
Now, the problem is the fed had to add $85 billion a month to prop up the Wallstreet and the housing bubbles....We don`t have a Goll damned thing to show for the $7 Trillion wasted thus far. We have a record labor NON-participation rate, still the unemploymen rate is 6.7%!
Years ago smarter people than I said that "when the national debt goes over $6 Trillion, that is the point of NO return"...we`re on borrowed time here folks and that doesn`t discriminate whether you`re gay or straight.
If the fed funds rate EVER went above essentially zero, this country`s problems would come in platoons. It`s a spending problem, we have "baseline budgeting" where a "cut" that they brag about is really just a slow down in growth of spending. There really isn`t any hope, my advice is to buy 25 lbs bags of rice and cans of beans and .22 shells, because it ain`t gonna be pretty.
President obama inherited a depression along with an obstinate opposition that is bound and determined to make sure anything he does fails. Along with the determination to obstruct everything he attempts.
Inspite of the affordable care act passing into law the opposition has done everything it can to make sure that they discourage sign ups in the program to make sure it fails.
Think back to when Dubya admisinstration wanted to bail out wall street. If democrats would have resisted their plan the whole financial system would have collapsed. The difference being an opposition that wants america to succeed compared to an opposition that the tea baggers to succeed.
I wonder if the seattle seahawksw would have won the suprerbowl if the offense did exceptionally well but the defense wanted them to lose. That is what Obama has been struggling against. A hating opposition that will do anything to eliminate his success.
You ought to be ashamed of yourselves.
The dot com bubble was hardly the financial community in collapse. Besides clinton left dubya with a surplus and he declared that americans were over taxed and cut tases. STUPIDITY.
Secondly Bush and his staff were warned about the threat of al queda and ignored the information as they were looking for an excuse to invade Iraq!