Obama’s legacy: $10 trillion in new federal debt over just four years

obama drinking beer

As Election Day nears, Americans certainly have some sobering choices to make. Whoever wins the White House has a monumental fiscal crisis to deal with – one that makes losses incurred during the Great Recession of 2008 look like pocket change.

Either way you cut it, the country has been, and will remain, on a path of unsustainable debt. Federal spending under George W. Bush added some $4 trillion dollars to the country’s already burgeoning national debt, but under President Obama that debt has skyrocketed to a staggering $16-plus trillion, and, if the current administration’s budget projections remain unchanged, Obama will have added an unprecedented, mind-numbing, calculator-busting $10 trillion in federal government debt that your children – and their children and their children – will likely have to pay off.

It’s stunning, really, to sit back and watch the country being spent into oblivion, but that’s what’s happening.

Modest growth + increased debt = insolvency; the question is when

“By the end of this year, the federal debt is expected to be $16.2 trillion, which is $6.2 trillion more than when President Obama first came into office four years ago,” saysĀ The Weekly Standard, a conservative publication, in a recent blog which included a graphic projecting record budget growth between now and Fiscal Year 2017, the end of a second Obama term if reelected.

Starting at an estimated $15.2 trillion of debt currently (which is about $5 trillion more than when Bush left office),Ā federal debtĀ is expected to rise to $17.5 trillion by next year, then rise by roughly a trillion dollars a year until 2016, when the federal debt is expected to exceed $20.3 trillion.

This isn’t hyperbole; under the current regime, the country has suffered through four straight years of trillion-dollar deficits, and there is no reason to expect, given its history, that the current administration would change much.

“TheĀ Congressional Budget OfficeĀ also says it expects the economy to continue recovering at only a modest rate the rest of this year, growing at a modest annual rate of 2.25 percent. The slow-moving economy and massiveĀ federalĀ deficits are top-flight issues in this year’s presidential and congressional campaigns,” TheĀ Associated PressĀ said in parsing a CBO estimate on current budget projections.

“FederalĀ debtĀ will increase to $25.4 trillion by the end of 2022, an increase of $10.6 trillion (72 percent) under the president’s budget policies,” adds the Senate Budget Committee.

obama-drinking-beer

Budget? What budget?

Part of the problem is unrestrained spending. As in, Congress has not voted on, andĀ ObamaĀ has not signed, an actual budget in more than three years. According to theĀ Standard, it’s been more than 1,212 days since Senate Democrats allowed a budget vote on the floor of their chamber.

“Article I of the U.S. Constitution requires Congress to pass a federalĀ budget. Despite the clear priority the Constitution gives to maintaining discipline in federal spending, the last time Congress enacted a budget was April 29, 2009,” more than three years ago, noted Mathew Staver, chairman of theĀ Liberty Council.

Here are some more staggering numbers:

– Under current figures, the U.S. debt-per-person exceeds $50,900; U.S. debt per taxpayer; however, climbs to a staggering $140,000 each

– The current national debt is slated to surpass $16 trillion before Election Day

– The country’s Social Security liability is in excess of $15 trillion; the prescription drug liability is more than $20 trillion, and Medicare’s unfunded liability is $83 trillion, for a total unfunded liability of a massive, country-shattering $120.4 trillion – or every dollar in gross domestic product the U.S. will generate for the next eight years. And in case you’re interested, that’s a total debt of more than $1 million per taxpayer.

As Americans, we have some very important fiscal decisions to make when we go to the polls in November.

Source:Ā http://www.naturalnews.com/036979_federal_debt_trillions_Obama.html

4 comments

  1. More debt than in the last 200 years of US history. USA is just lucky because foreigners specially these stupid and corrupt Arabs and Chineese are so stupid and imbecile. USA is a very lucky country to have so much idiots in the rest of the world to finance their orgies.

  2. i remember from my school days at Brandeis University in1970′s my student adviser’s words that when he was growing up that his parents used the term “ā€˜goyishe kup,ā€™” meaning that the “Non-Jews are Stupid”
    I learned that of “GOYISHE KUP” means that the “Cattle are STUPID”.I agree with the Jewish saying that American “GOYISHE KUP” are indeed” Stupid” as they believe that Muslem Kids who were unable to Fly a Cessna plane took it upon themselves to FLY a Boeing 767 & outwitted the US Military & Civilian authorities. The “Jewish Lightning Insurance Scam” of the 1960′s is still alive and well has been put to use by Larry Silverstein in putting 15 million cash down and comming out with 7 billion dollars for buidings where it would have cost a billion dollars to remove the asbestos The Americans believe that they decide who is elected President or for that that actual VOTE is really counted in deciding who represents them in the White House and congress.

    http://www.bing.com/videos/search?q=911+missing+links+watch+movie&view=detail&mid=51A7141F33FBB715D84C51A7141F33FBB715D84C&first=0&qpvt=911+missing+links+watch+movie

    bollyn.com

    http://www.youtube.com/watch?v=rVTXbARGXso http://www.911missinglinks.com/

    http://www.youtube.com/watch?v=DxnpujfanUM whatreallyhappened.com

    Yeh I agree that the AmericanNon-Jews are indeed “GOYISHE KUP” or “STUPID CATTLE”!

    The Israeli Defense Firm That Tallies The Iowa Caucus
    By Christopher Bollyn
    1-1-8

    The Iowa caucus is only a few days away and the nation’s attention will be directed to the results, which signify the beginning of the U.S. presidential race. But does anyone watch who tallies the results of the Iowa caucus?

    The Iowa caucus results were tallied in 2004 by a company that is headed by a man whose company was bought by Elron Electronics, the Israeli defense firm. I suspect that it will be the same this year. Don’t expect to see any grassroots political activists doing the tally in Iowa. The Israeli defense establishment takes care of that part of the American “democratic” election process.

    VOXEO

    In the summer of 2004, I first learned that a foreign and out-of-state company using Interactive Voice Response (IVR) technology tallied the Iowa caucus results.

    The system used to tally the 2004 Iowa caucus results was provided by a company called Voxeo, which was apparently based in Orlando, Florida. (Yellow flag goes up in the mind of those familiar with Orlando and electronic vote fraud history. See Bollyn article on Wang below.)

    The calls from the nearly 2,000 caucus centers in Iowa went to a Voxeo call center in Atlanta, Georgia.

    On January 31, 2005, I wrote to Michelle Bauer, Iowa’s Secretary of State with some questions about the use of Voxeo, a foreign company located in Florida, to tally the results of the Iowa caucus:

    Subject: How was the Iowa Caucus Tallied?

    Dear Sirs,

    When I visited the headquarters of the Democratic Party in Des Moines last summer, I learned that the tally of the Iowa caucus had been “out-sourced” to a company in Atlanta, Georgia.

    What this means is that the tallying of the Iowa caucus results was done over the telephone, using the touch-tone buttons, to enter the results from each caucus locationS

    I am interested in how this was done, and why. Why did the Democratic Party allow the crucial tally of the caucus results to be done by a company in Atlanta? Don’t they trust their own math skills?

    Can any of you provide any information about this matter?

    Kind regards,
    Christopher Bollyn

    A person named Mike Milligan wrote back on behalf of Secretary of State Bauer:

    Mike Milligan wrote:
    Dear Christopher:

    The Secretary of State forwarded me the email you sent to then on Monday, January 31, 2004 [sic] regarding the Iowa Caucuses.

    Unfortunately, you either received some incorrect information in your travels or are confused. The Iowa Democratic Party completed all of the caucus night tabulations in Iowa, in the Des Moines/Polk County Convention Center, which was the Caucus night HQ. In fact, our tech staff wrote the software that tabulated the results.

    To answer your second to last question, we feel we have a comfortable grasp of mathematics.

  3. There is not that much money in this Planet. It’s just a number made up in some demented creatures head, from the Congress……………………. The problem is that everybody is accepting the numbers………………………. This is what it amounts to ( no pun…) :____________ “Find out just what any people will quietly submit to and you have the exact measure of the injustice and wrong which will be imposed on them.” Frederick Douglass………………………. It’s all a test about how much, how far the Elite can go. The U.S. Populacen is taking it all, laying down, So the Elite are ROTFL , while having fine whiskey in their private clubs._________________ So how long until the Public squeals. How long, while the Elite are sucking away all the water from the Great Lakes, before there’s Civil Disobedience?

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