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U.S. marks 3rd-largest, single-day debt increase

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posted on Jul, 8 2010 @ 11:10 AM
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U.S. marks 3rd-largest, single-day debt increase


www.washingtontimes.com

$166 billion jump spurs concerns over policy.
The nation's debt leapt $166 billion in a single day last week, the third-largest increase in U.S. history, and it comes at a time when Congress is balking over higher spending and debt has become a key policy battleground.

The one-day increase for June 30 totaled $165,931,038,264.30 - bigger than the entire annual deficit for fiscal year 2007 and larger than the $140 billion in savings the new health care bill will produce over its first 10 years. The figure works out to nearly $1,500 for every U.S. household, or more than 10 times the median
(visit the link for the full news article)


Related News Links:

www.drudgereport.com




posted on Jul, 8 2010 @ 11:10 AM
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Does anyone really believe this: [$140 billion in savings the new health care bill will produce over its first 10 years.]

I fail to see the savings in anything ran my the Government.

But still, Our children and grandchildren have one hell of a debt to pay back and it's only going to get larger.

Please read the article and see where both POTUS have been mentioned so you Obamanites won't start screaming this is all Racist and it's all Bush's fault. Both are sharing the blame in this article which is posted on the drudge report, which I know will also get your liberal blood racing and your blood pressure will spike. But that's life and you got to love it.

www.washingtontimes.com
(visit the link for the full news article)



posted on Jul, 8 2010 @ 11:13 AM
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One day soon, everyone will suddenly WAKE UP and realize that America, the reserve currency nation is BROKE........ we all know that but the SHEEPLE are having a tough time grasping the concept.....

$166 Billion in one day is an awful lot,...??? is that really accurate or correct ??

Regards

PurpleDOG UK



posted on Jul, 8 2010 @ 11:39 AM
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OOOOOOOHHHHHHH NNNNNNNNOOOOOOO! It just keeps getting worse! For the life of me I cant understand why the concept of creating a reasonable budget and saving money is so foreign to the Feds. The "spend money to get us out of the recession" idea is the stupidest thing that has ever been pulled off against the people of the US. Where is all the money going?

How about this. Cut every non essential program, cut taxes, offer incentives to businesses so they can hire people. Instill actual HOPE into the people, not just "HOPE we don't go bankrupt"...



posted on Jul, 8 2010 @ 11:41 AM
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Originally posted by PurpleDog UK
One day soon, everyone will suddenly WAKE UP and realize that America, the reserve currency nation is BROKE........ we all know that but the SHEEPLE are having a tough time grasping the concept.....

$166 Billion in one day is an awful lot,...??? is that really accurate or correct ??

Regards

PurpleDOG UK


YUP, That's correct and you and your kids and your grand kids will be paying for this and more. Me? I'll be dead sooner than later and I'm Retired anyway.

But, the important thing to remember is, some days that count is lower and remember, every one,who voted for ( Dear Leader and Friends ) in Washington D.C. wants you to believe, Health Care will not raise our National Debt.




[edit on 8-7-2010 by guohua]



posted on Jul, 8 2010 @ 11:52 AM
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Well, through the end of May 2010, the US had managed to spend $42,000 per second that they didn't have. Glad to see they're working hard on that issue.

Can you even print money that fast?



posted on Jul, 8 2010 @ 11:56 AM
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I struggle to beleive how much debt they are raking up by the day, and how on earth they are going to fund the repayment...

It seems to me utter madness to be where we are, let alone keep making the same mistakes...

there has been zero wealth creation (new jobs/new industry) no real investment in new tech that'll pay off in the future... and repayment is all tied up in an ever decreasing taxable working population...

I really, really can not shake the feeling we are stuffed...It's almost as tho they know they don't have to repay a penny of it..

[edit on 8/7/10 by thoughtsfull]



posted on Jul, 8 2010 @ 11:58 AM
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At first I thought, "How is this even possible?!" But then I thought about it. I guess it makes sense. The interest alone on what we owe is probably more than this. It's compounding daily and adds to the debt, so anything we actually spend to try to dig out is going to come on TOP of this. Hang on because it's probably only going to get worse.

[edit on 7/8/2010 by ~Lucidity]



posted on Jul, 8 2010 @ 12:00 PM
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reply to post by ~Lucidity
 


I know they where saying on the UK debt we'll rake up an additional 50% of the original balance in interest in the next 5 years, I assume the same would be true of every other nation including the US..

Scary times ahead..

[edit on 8/7/10 by thoughtsfull]



posted on Jul, 8 2010 @ 12:00 PM
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And it's funny, it's already July 8 and the US treasury have not released any numbers for the June deficit...

They are covering it up.

Probably over 400 billion... After all it was 333 billion in march.

[edit on 8-7-2010 by Vitchilo]



posted on Jul, 8 2010 @ 12:01 PM
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Originally posted by BuffaloJoe
Well, through the end of May 2010, the US had managed to spend $42,000 per second that they didn't have. Glad to see they're working hard on that issue.

Can you even print money that fast?


BuffaloJoe, your statement : [Can you even print money that fast?

Obamas reply is: YES, WE CAN! Change You Can Believe In! Your change to my pocket. YES WE CAN!


These people in Washington D.C. truly believe we have an open wallet for them to stink their hands into any time they feel like it. How will he get more of our monies?
Their going to tax the middle class out of existence. We are now a dying class of peoples. Don't you think?
I don't want anything free from a Government. Nothing is ever truly free.
The Government will have some really fine print you will need to read or lose your soul.

[edit on 8-7-2010 by guohua]



posted on Jul, 8 2010 @ 12:23 PM
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Some wonder how debts can be re payed even at the increasing rates of accumulation. The answer is quite simple.
If the population is killed off in some fashion, and in such numbers that so-called rights of survivorship are disrupted leading to defacto abandonment of property, both real and virtual (eg financial transfers/obligations, then it would be much more easy to have the govt claim abandonment and confiscate it all, land and other properties to split it up with their enforcement arm(s).
Given the obvious attempts by govt to pit stereotypical groups against each other without any other goals but increasing friction evident, it stands to reason that indeed depopulation and confiscation of value and property is the specific mechanism intended by the ptb.
The question should be entertained as to what form of hoarding pathology is in play when octogenarian billionaires, etc with more money than could ever be spent by them continue to conspire to strip even the poor of their pittances and need those with recoverable property to disappear. Yes youre on the list. In a world where one cant hide and live well without joining the ptb,think about it.

[edit on 8-7-2010 by mordant1]



posted on Jul, 8 2010 @ 12:25 PM
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reply to post by PurpleDog UK
 


I love american money and have quite a collection of Silver Eagles with a face value of $1 and i won't be cashing them in for digital ameros a few days after they crash the banking system so they can bring you a personal carbon tax made payable to the IMF because they will know how you spend every cent.

Maybe the USA can do a GM where it goes bankrupt and the share prices goes up but my advice is to tell the banksters to keep your cash, debt and where to stick the taxes.

Don't be panicked when the time comes because this has been planned and they are banking on you to take $0.50c on the $ when your fiat paper is converted to amero digits on a PC.

The figures for goverment debt comes in at anything from $200k per tax payer to $675k per tax payers and this will never be paid on top of peoples personal debt so it's printy, printy or one hell of a crash that will also sort out the CDS markets.

Here in the UK we are just as bad and the deficit will continue to go up regardless of the austerity measures and i'm taking bets on that one.



posted on Jul, 8 2010 @ 12:30 PM
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Hopey Changey


This asshat is spending like a drunken sailor on his first shore leave in a year!


Boy, this country is FINISHED - KAPUT! All by design of course. And the mouth-breathing dolts in this country just don't get it. "Wow" is about all I can muster at this point.



posted on Jul, 8 2010 @ 12:33 PM
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reply to post by LieBuster
 


Think, why would they even let you keep half of your initial wealth? They need just enough population to cater to their needs, no more. Only the relatively few self sufficient can even attempt to stand against being enslaved, hence the total war on the self sufficient



posted on Jul, 8 2010 @ 12:35 PM
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reply to post by kozmo
 


You do realize the enormity of the debt and deficit accumulated in the 8 years prior and carried over, right?



posted on Jul, 8 2010 @ 12:45 PM
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From the OP article


Daily debt calculations jump and fall, and big shifts are common. But all three of the biggest one-day debt increases have occurred under the tenure of President Obama, and all of the top six have been in the past two years - an indication of just how quickly the pace of deficit spending has risen under Mr. Obama and President George W. Bush.


When are people going to realize that Obama has a deathwish for this country?

Once again, the theory of voting for the lesser of two evils proves itself. Obama is making the republicans look good. Obama is making Bush look good.



posted on Jul, 8 2010 @ 12:46 PM
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Originally posted by ~Lucidity
reply to post by kozmo
 


You do realize the enormity of the debt and deficit accumulated in the 8 years prior and carried over, right?



You do realize that a big debt jump in one week has nothing to do with the previous administration?

Edit: Except for interest

[edit on 8-7-2010 by wutone]



posted on Jul, 8 2010 @ 12:48 PM
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reply to post by ~Lucidity
 


Of course! But YOU do realize that Obama has incurred more debt in the past year and a half than ALL other administrations combined, right?


I mean, I get it... You're ready to defend "your boy" to the end. But thanks to "your boy", the end is going to be much, much sooner than later. Two wrongs don't make a right. Just because Bush spent like a complete moron doesn't excuse Obama from spending like a complete moron times ten, right?

He did promise Hopey Changies, didn't he? The result has been absolutely hopeless and the only change we've seen has been in the form of tin pennies. Sorry - The man IS A FAILURE!



posted on Jul, 8 2010 @ 12:51 PM
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reply to post by wutone
 

Oh, really? Please do explain.




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