Category Archives: National Debt

The FACTS about the Bush-Obama deficits

There’s a lot of crap circulating the internet about how the great and noble Barack fixed what that turrible Bushitler guy did to our national finances. Here are the real facts in one simple graphic.

Bush v Obama deficits

  • 2007: When Democrats took majority control of the House AND the Senate, the deficit was below $0.2 Trillion.
  • 2010: After four years controlling federal spending, Democrats had increased the 2007 Republican deficit by 600%.
  • 2015: Republicans are slowly bringing the deficit down, but the damage to the DEBT is cumulative. As of May, it’s $18 Trillion. Democrats are responsible for the lion’s share of it.

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Filed under Barack Obama, Economy, George W. Bush, National Debt

Countdown to Global Debtmageddon

I don’t pretend to understand global economics.  But I do understand my own household budget and I know that it is impossible to continue debting indefinitely.  At some point, your creditors are no longer willing to keep giving you more money to piss away, at which point, you’re up shit creek and the repo man has taken your paddle.

The United States government is EIGHTEEN TRILLION DOLLARS IN DEBT and is STILL DEBTING at a rate of ONE TRILLION PER YEAR.

DEBT raise ceiling

On May 14, 2015, the Undercover Economist listed eleven signs that we are days, weeks or maybe months away from the next global financial crisis.  The question isn’t if, it’s when.

The Greek government has a big payment on its crushing national debt coming due on June 5.  Word is the government doesn’t have the funds to make that payment and is likely to default.  According to the article linked below, if Greece defaults, it could set off a major European financial crisis this summer.  

If GREECE defaults, it could set of a major financial crisis?  We have states with bigger economies than Greece!

Sources:

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Filed under Economy, National Debt

Sackcloth and ashes is what they SHOULD be wearing!

Wearing sackcloth and sprinkling ashes on one’s head is a biblical sign of repentance and mourning.

2015_05 US debt passes 18 Trillion

The average member’s annual salary is $174,000.

Sources:

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Filed under National Debt, U.S. Congress

On Black Friday, While Media Covered Shopping Stories, U.S. Public Debt Topped $18 Trillion

From Zero Hedge: Last week, total US debt was a meager $17,963,753,617,957.26. Two days later, as updated today, on Black Friday, total outstanding US public debt just hit a new historic level which probably would be better associated with a red color: as of the last work day of November, total US public debt just surpassed $18 trillion for the first time, or $18,005,549,328,561.45 to be precise, of which debt held by the public rose to $12,922,681,725,432.94, an increase of $32 billion in one day.

debt to the penny Dec 2014
It also means that total US debt to nominal GDP as of Sept 30, which was $17.555 trillion, is now 103%. Keep in mind this GDP number was artificially increased by about half a trillion dollars a year ago thanks to the “benefit” of R&D and intangibles. Without said definitional change, debt/GDP would now be about 106%.

It also means that total US debt has increased by 70% under Obama, from $10.625 trillion on January 21, 2009 to $18.005 trillion most recently.

And now we wait for the US to become Spain, and add the estimated “contribution” from hookers and blow to GDP, once again pushing the total debt/GDP ratio below the psychological 100% level. Read more at Zero Hedge.

Added by CtH:

2014_12 01 18 Trillion but nobody wants to talk about it

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Filed under Barack Obama, Economy, National Debt

Ten Ugly Facts About the State of our Country that Democrats Want to Hide on Election Day

DONKEY3The first nine (and the graphic) are from the geniuses at Cain TV and Diogenes Middle Finger.  The tenth is from U.S. Government sources and will be of special interest to those of you in military families:

As we all get ready to head to the polls tomorrow, Democrats want you focused on the Koch brothers (that evil fang-toothed fictionalized version, not the real ones who are excellent and highly successful businessmen) and their “war on women” crapola.

What they do not want you focused on is the data that shows what failures they have been leading this nation. Many people do not even know the facts I’m about to share, because the mainstream media do not report them. So read them and share them with nine friends who are going to vote tomorrow. It just might help decide whether Harry Reid remains in control of the Senate or is sent to the back bench where he belongs. (Actually that’s not where he belongs, but I’ll not get into that now.)

Ten facts Democrats do not want to talk about:

1. Sluggish economic growth. Yes, we’ve had a couple of strong quarters, but annualized growth throughout the Obama presidency has been less than 2 percent. That is horrendous.

2. Median income is down $3,000 per household since Obama took office. Astonishing.

3. The labor participation rate is down from 67 percent to 62 percent, which makes the published unemployment rate look much better than it really is. The U6 rate, which includes those who have given up looking for work, remains over 10 percent.

4. More part-time jobs have been created than full-time jobs in last six years.

5. The home ownership rate is down from 67 percent to 64 percent.

6. Taxes went up when the Bush tax cuts were allowed to expire. Liberals will say that’s fine because they only went up on the rich. I say the government did what it too often does and chose to target producers and opportunity creators.

7. ObamaCare is a failure! More people are losing their insurance than are becoming newly insured, and 51 percent of those enrolled in the exchanges say they will not re-up given the opportunity the next time around. Then there are the 29ers (people being limited to 29 hours a week because of ObamaCare mandates) and the 49ers (not the San Francisco ones . . . the businesses intentionally staying under 50 employees to avoid the coverage mandate). There are also thousands of doctors refusing patients with ObamaCare coverage because they can’t cover their costs on the reimbursements, while thousands more doctors are retiring early.

8. The national debt has exceeded $17 trillion for the first time in U.S. history. Remember when Obama declared as a senator that running up debt was unpatriotic? Um. Yeah.

9. From the Middle East to Eastern Europe to Russia to Britain to the Falkland Islands to Latin America to Mexico to the Far East, our foreign policy is a muddled mess. Shockingly to Obama the rest of the world did not conform to his global ideals just because he gave speeches saying they should.

10. Twice as many U.S. military deaths have happened in the Middle East under Obama’s watch in half the time as under President Bush’s.  This happened despite aggressive campaigning by Obama against the war in Iraq, promoting him as the bringer of peace to the region, a foreign policy prodigy and the savior of U.S. service men and women.

Please keep these facts in mind as you vote tomorrow.

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Filed under Armed Forces, Democrats, Economy, Elections, National Debt, Obamacare, Taxes, U.S. Senate, Unemployment

Obama dumps a steaming pile of stupid

2014_08 29 Obama dumps a whole pile of steaming stupid

Best comment at Twitchy: “At least the commies and we agreed on one thing. We knew and they knew that we could live in a stand off because if it escalated it was mutually assured destruction. For the Middle East today … death is what they want. Taking the kafir out is what counts and dying in the process is not a deterrent, it is a feature. So no, the world is not safer.”

Neither is the economy …

1984: National Debt: $1.5 Trillion.
2014: National Debt: $17.7 Trillion. 

Sources:
http://twitchy.com/2014/08/29/holy-cow-i-cant-believe-he-said-that-obama-drops-another-bombshell-of-stupid/
http://twitchy.com/2014/08/29/forget-it-hes-rolling-obama-makes-another-promise-hes-already-broken/

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Filed under Barack Obama, Democrats, Economy, Middle East, National Debt

Debtmageddon and the Do Nothing Democrat Senate

2014_07 332 bills stuck in the Senate

Among the bills blockaded by Harry Reid’s Senate are any and every attempt made by the Republican House to pass a budget (as required by law) and/or curb the runaway spending that is fast bringing on DebtmageddonHave you see the Debt Clock lately?

2014_07 27 Debt Clock

Sources:

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Filed under Barack Obama, Budget, Democrats, House of Representatives, National Debt, Republicans

Thanks for nothing, Obama voters!

Megyn Kelly says how bad it is [1:22]

DOHbama administration scandals

June 24, 2014: Economy shrank 2.9% in 1Q, worst drop since ’09
http://www.usatoday.com/story/money/business/2014/06/25/economy-first-quarter/11332011/

2014 Obama's FAILED administration

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Filed under Barack Obama, Benghazi, Economy, Fast & Furious, IRS, National Debt, NSA, Obamacare, Poverty, Unemployment