Debt ceiling lifted, and the same day, debt jumps $339B Welcome to Obamanomics

Obama is on pace to double the debt since he took office and add 10 trillion to the debt. Obama kool aid drinkers will say other Presidents have doubled the debt but Obama has the biggest cash increase of debt than all Presidents combined before him.

The U.S. national debt jumped $339 billion on Monday, the same day President Obama signed into law legislation suspending the debt ceiling.

That legislation allowed the government to borrow as much as it wants above the $18.1 trillion debt ceiling that had been in place.

The website that reports the exact tally of the debt said the U.S. government owed $18.153 trillion last Friday, and said that number surged to $18.492 on Monday.

The increase reflects an increasingly common pattern that can be seen in the total U.S. debt level when the debt ceiling is reached.

At the end of 2012, for example, the government hit the debt ceiling, and the Treasury Department was forced to use "extraordinary measures" to keep the government afloat until the ceiling could be increased again. Those measures included decisions to delay issuances of certain debt instruments.

www.washingtonexaminer.com...

On top of the "extraordinary measures" of the Treasury Department you also have the Fed that was giving billions of dollars a month to multi-nationals which have made the rich filthy rich and the Fed keeping interest rates low which is propping up the reckless Obama spending and wiping out middle class savings.

Here's Trump talking about the Fed.

Donald Trump on Tuesday accused the Federal Reserve of keeping interest rates low at the request of President Barack Obama.

The GOP presidential hopeful, speaking at a news conference, also called Fed Chair Janet Yellen "highly political."

Asked whether the Fed should raise rates, Trump said it should but would not for "political reasons."

"They are not raising them because Obama has asked them not to raise them," the billionaire developer said. "In my opinion, he wants to get out of office, because we're in a bubble — when those rates are raised, a lot of bad things are going to happen."

He added, "In my opinion Janet Yellen is highly political and she's not raising rates for a very specific reason: because Obama told her not to because he wants to be out playing golf in a year from now and he wants to be doing other things and he doesn't want to see another bubble burst during his administration." Obama is due to leave office in January 2017.

www.cnbc.com...

When the chickens come home to roost and the Obama bubble of debt bursts, we might not be able to print ourselves out of this one.

a reply to: neoholographic

it's never really "Obama" or "Bush", but their administration and the end result of their partnerships/supporters.

Are these real numbers, or are these common core math numbers? Wait until Frosty the Hag or Commie Sanders gets ahold of the economy, you haven't seen anything yet.

a reply to: neoholographic

It's crazy, isn't it? The government is out of control and needs to be tamed.

The only part I would disagree with is to say the this is an issue with Obama. He is only one piece to the puzzle. We have to point the finger at both sides of the aisle on this one. Both Dems and Reps have their dirty fingerprints on this problem.

And if it even gets that far, the next president will do the exact same thing. They're all the same, sweet talking you into voting for them and then doing an about face when they get into office.

The debt was already pretty substantial before Obama came into office so he's only a small part of the issue.

a reply to: introvert

Of course you point the finger at Obama, just like I pointed the finger at Bush and his reckless spending.

Obama has advocated policies that have almost doubled the debt and is wiping out the savings of the middle class. The Republicans share in the blame because they have basically laid down for Obama and this is one of the reason Boehner is leaving.

So yes, it's a big issue with Obama because he's the biggest piece of the puzzle.

a reply to: neoholographic

Then you don't understand our system.

The reason Boehner is out is because he wasn't extreme enough for the TP/further Right-Wing members that had been elected. Boehner is a moderate compared to those that have taken over the Republican party. But the problem is that they still spend money like crazy even though they were elected to stop those that did.

Obama is part of the problem, but to focus on him means that you don't understand how government works, or have a political agenda to push.

originally posted by: 3NL1GHT3N3D1
And if it even gets that far, the next president will do the exact same thing. They're all the same, sweet talking you into voting for them and then doing an about face when they get into office.

The debt was already pretty substantial before Obama came into office so he's only a small part of the issue.

Give me a break. This is just more Obama kool-aid. He has advocated policies that have been horrible for the middle class and have made the rich filthy rich.

It’s Official – Obama’s Deficits in 6 Years more than all Prior US Presidents Combined

A deficit occurs when annual government spending is greater than its revenues. When a government overspends resulting in a deficit, it must borrow money to stay afloat. Currently the US the government has over $18 Trillion in US Debt. This is the result of years of overspending. Of the $18 Trillion in US Debt, $13 Trillion is debt owed to the public but $5 Trillion is debt the government owes to other government agencies, like Social Security, where the government borrowed from these agencies when it needed money. The $13 Trillion in debt owed to the public is due to deficit spending and the accumulated interest payables related to the large amount of debt.

Per www.whitehouse.gov, the accumulative total for all US Deficits combined was $11.6 Trillion through the end of 2014 (see Table 1.1—SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS (–):

1789–2020). This $11.6 Trillion along with accumulated interest payables are what account for the $13 Trillion in US debt outstanding.

A closer look at the deficits recorded at www.whitehouse.gov shows that the Obama Administration has accumulated more in deficits in six years than all prior years combined!

www.thegatewaypundit.com...

I'm sorry but the Bush kool aid drinkers tried to do the same thing and say, Oh, it's not really Bush. Yes it was because Bush cut taxes and increased spending which was just idiotic.

Obama is worse and when the dam of debt bursts because of the policies he pushed, it will be catastrophic.

The presider just signs on a dotted line to the debt mongers that clamor the loudest and have the most influence to get their little expenditure "approved".

They are lined up out the door and down the street.

Edit: Even though the wars were started during lil Bush's terms, he didn't start them either. Remember, he was in a school room and flying around lost somewhere over the US at the time.

So go ahead and blame both of them for the trillions of dollars to wage endless war ever since.

Nice distraction from the truth. For shame…

a reply to: neoholographic

I haven't drank any Obama kool-aid, I just know the government has been corrupt far longer than Obama has been in office.

If you want to try to blame it all on Obama then be my guest, but you'd still be wrong.

a reply to: introvert

You sound ridiculous.

Yes you blame Obama because these are policies he pushed. If he doesn't get something passed he tries to figure out how to go around them with executive orders.

In last election, Romney warned against the Fed giving billions of dollars a month to multi nationals and keeping interest rates low and Obama supported it.

Like I said, it's the same way Bush cut taxes but did nothing to control spending.

You're the one drinking the Obama kool aid because you want to say, Oh Obama isn't that bad. We don't need to point the finger at Obama. THAT'S JUST ASININE!

I read things like this and it makes me want to join the "well, nothing I can do, I'm a nobody" group.

But I'm not a nobody, neither are you. Do I have the answers? Heck no. But if enough of us nobodies come together.... Maybe we can figure something out. I know I'm not the only one that wants a resolution.

Much love and good vibes to you all. Hopeless news (i like to think) inspires hope in those willing to fight. We will get through this. Somehow....

Edit: it isn't Obama, Bush, the left or right. It's politics in general. There is an obvious flaw across the board. Stop pointing fingers and start uniting. Arguing it's "him, her, they, them" only creates more separation. IMHO, if there is a"they "then it's what" they "would want. Separation.

originally posted by: 3NL1GHT3N3D1
a reply to: neoholographic

I haven't drank any Obama kool-aid, I just know the government has been corrupt far longer than Obama has been in office.

If you want to try to blame it all on Obama then be my guest, but you'd still be wrong.

Who said anything about blaming it all on Obama?

This is just an asinine argument. Nobody has claimed Obama is responsible for all Government corruption. For this 10 trillion of debt that we're talking about, Obama and the policies he pushed are directly responsible and only a kool aid drinker would want to give him a pass for what has been done while he has been in office.

a reply to: neoholographic

Yes you blame Obama because these are policies he pushed.

I blame Obama because he is part of the equation. But I also realize that it is much more complicated than blame Bush, Obama or whomever else you want to blame.

We cannot fix the problem unless we first recognize there is a problem and whom is behind it. If we only blame Obama then we are leaving the rest of those involved to continue what they are doing.

You're the one drinking the Obama kool aid

You have to come up with something a bit more intelligent to offend me. That's ignorant and childish.

a reply to: neoholographic

I never gave him a pass, I say he's just as guilty as the president's who came before him. All Obama does is sign a dotted line, he doesn't write the laws. Who are the ones benefiting from these laws and who are the ones who finances his campaign? They're probably the ones who paid him to sign that dotted line.

a reply to: neoholographic

How much interest do you get from the debt bush left, now take that away from obama term debt, and voila dude is doing an awesome job.

Logic is your friend.

Welcome to trickle down economics

a reply to: introvert

What you said made zero sense. You said:

I blame Obama because he is part of the equation. But I also realize that it is much more complicated than blame Bush, Obama or whomever else you want to blame.

We cannot fix the problem unless we first recognize there is a problem and whom is behind. If we only blame Obama then we are leaving the rest of those involved to continue what they are doing.

This is always the asinine argument that's made when someone wants to deflect criticism from Obama or years ago with Bush.

No, it's not more complicated than blame Obama because many of the reasons why debt is being doubled to almost 10 trillion is because of policies Obama pushed and supported.

This is just a silly argument to say we don't need to point at Obama because all Government is corrupt. Yes, much of Government is corrupt and the leader of corruption right now is BARACK HUSSEIN OBAMA and his reckless policies.

a reply to: neoholographic

Obama doesn't lead anything, he's just the scapegoat. He has people behind the scenes pulling his strings.

No, Obama is not without blame but he is only one part in a massive operation. The real leaders are never seen.

a reply to: introvert

There is no fix to this problem.

Only the naive think there is. Any drastic measures that are required to "fix" this mess will completely destroy our economy.

This is why the current attitude to, keep the boat a float mentality, is in effect. Not only to make the fat cats more fat, but also no one wants a complete meltdown on their watch.

Good paying jobs by the millions is the only cure for our country's disease, but we all know that isn't going to happen.

Sorry to be a pessimist, but some of us really see it for what it is.