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U.S. Debt Jumped $400 Billion in First Hours After Obama Signed Debt-Limit Bill

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posted on Aug, 3 2011 @ 09:19 PM
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Uhhh let's waste no time wasting Obama's $2.4 trillion dollar Birthday Gift. Pelosi claims the $2.4 trillion platinum credit card will only last 18 months. I'm thinking 11 months at most.


The debt of the federal government—as reported by the U.S. Treasury Department in the official Daily Treasury Statement—jumped by $400 billion on Tuesday afternoon within hours of when President Barack Obama signed the legislation that lifted the debt limit by as much as $2.4 trillion.


What more can I say when I am left dumbfounded...


At 4:00 p.m this afternoon, the Treasury published the statement summarizes the accounts of the U.S. government as they stood as of the close of business yesterday, Tuesday, Aug. 2, 2011.

Table III-C of the statement, which summaries the national debt, indicated that at the beginning of Tuesday, the U.S. debt subject to the limit was $14.294000 trillion. At the close of business Tuesday, the statement said, the debt subject to the limit was $14.694,000 trillion—an increase of $400 billion.

Shorlty after 1:00 p.m. yesterday, President Obama announced at the White House that Congress had passed the legislation increasing the debt limit. Shortly after that, the White House press secretary issued a statement saying the president had signed the bill.

By the close of business that day, the national debt had jumped $400 billion.



cnsnews.com...




posted on Aug, 3 2011 @ 09:23 PM
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So, any idea where the money went?
Was the real issue not the debt ceiling at all, but rather some payment that was due that the public wasn't privy to? That is a lot of cheddar for one payment on something!



posted on Aug, 3 2011 @ 09:25 PM
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i can see the idiots now obama left us with a "surplus"


no suprise another lie in the long line of lies since the creation of the us congress



posted on Aug, 3 2011 @ 09:26 PM
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reply to post by SpaDe_
 


I wish I could tell you.
It's just mind altering..



posted on Aug, 3 2011 @ 09:27 PM
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This jump in the debt is the backing out of the "accounting tricks" that allowed Treasury to say they weren't at the debt limit till today. Part of those accounting tricks were "borrowing" from pensions and retirement funds of .gov workers. Some of the blogs I'm reading say we'll be at the debt limit again as soon as the end of September.



posted on Aug, 3 2011 @ 09:31 PM
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Originally posted by neo96
i can see the idiots now obama left us with a "surplus"


no suprise another lie in the long line of lies since the creation of the us congress


He is going leave behind quite the legacy and quite the surplus of BS stacked in the closets of the the WH.

His $1.9 trillion debt ceiling hike in 2010 set a new record only to be broken by his new $2.4 trillion hike. The man is on a roll with a being the first to accomplish all sorts of neato things while being president. #$@^! Yes, his shrinking band of loyal followers will see all of this as a positive.




posted on Aug, 3 2011 @ 09:32 PM
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reply to post by jibeho
 


democrats love born losers they always have



posted on Aug, 3 2011 @ 09:34 PM
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Originally posted by jefwane
This jump in the debt is the backing out of the "accounting tricks" that allowed Treasury to say they weren't at the debt limit till today. Part of those accounting tricks were "borrowing" from pensions and retirement funds of .gov workers. Some of the blogs I'm reading say we'll be at the debt limit again as soon as the end of September.


If they keep this pace, we're in deep. That's the problem when you continue to feed and clothe a 50 year old child who still lives in your basement. We've got to cut the cord...



posted on Aug, 3 2011 @ 09:37 PM
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I actually had a client explain a lot of this to me today. Didn't realize how much of it has to do with Bond trading. And come Tuesday at 1:00, the treasury is selling over $30 Billion in bonds.



posted on Aug, 3 2011 @ 09:38 PM
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Originally posted by jibeho

Originally posted by neo96
i can see the idiots now obama left us with a "surplus"


no suprise another lie in the long line of lies since the creation of the us congress


He is going leave behind quite the legacy and quite the surplus of BS stacked in the closets of the the WH.

His $1.9 trillion debt ceiling hike in 2010 set a new record only to be broken by his new $2.4 trillion hike. The man is on a roll with a being the first to accomplish all sorts of neato things while being president. #$@^! Yes, his shrinking band of loyal followers will see all of this as a positive.




Don't forget we still have his national health care to pay for when that takes hold I think in 2014. Still haven't seen a price tag on that yet.



posted on Aug, 3 2011 @ 09:43 PM
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Originally posted by jefwane
This jump in the debt is the backing out of the "accounting tricks" that allowed Treasury to say they weren't at the debt limit till today. Part of those accounting tricks were "borrowing" from pensions and retirement funds of .gov workers. Some of the blogs I'm reading say we'll be at the debt limit again as soon as the end of September.


If we hit the limit again in September, how will they even be able to approach that issue? They surely wouldn't be able to just casually bring that to the American people without some huge backlash and questions being raised. If it was in fact accounting tricks that they had to cover with the money, then why did they let the ceiling be raised by so little? Just another band aid on a gaping wound?



posted on Aug, 3 2011 @ 09:58 PM
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reply to post by SpaDe_
 


That's a good question. There is also a large amount of debt that needs to be "rolled" this week. I think it's probably a combination of the need to roll a lot of maturing debt this week and backing out the "accounting tricks".

That's the beautiful thing about this "super Congress" thing. They don't have to go through a debate like the one we just had.

We'll see.



posted on Aug, 3 2011 @ 10:11 PM
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reply to post by jibeho
 



The debt of the federal government—as reported by the U.S. Treasury Department in the official Daily Treasury Statement—jumped by $400 billion on Tuesday afternoon within hours of when President Barack Obama signed the legislation that lifted the debt limit by as much as $2.4 trillion.

No it didn't.

The debt ceiling limit went up by 400 billion. The debt itself went up by 240 billion or so.

CNS is wrong on this one.
edit on 3-8-2011 by Vitchilo because: (no reason given)



posted on Aug, 3 2011 @ 10:11 PM
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reply to post by jefwane
 


So in other words, they saw it coming, at made provisions ahead of time.

Damn.



posted on Aug, 3 2011 @ 10:14 PM
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Originally posted by Vitchilo
reply to post by jibeho
 



The debt of the federal government—as reported by the U.S. Treasury Department in the official Daily Treasury Statement—jumped by $400 billion on Tuesday afternoon within hours of when President Barack Obama signed the legislation that lifted the debt limit by as much as $2.4 trillion.

No it didn't.

The debt ceiling limit went up by 400 billion. The debt itself went up by 240 billion or so.

CNS is wrong on this one.
edit on 3-8-2011 by Vitchilo because: (no reason given)


Seems they realized this and pulled the article. 404 Error on last click to source.



posted on Aug, 3 2011 @ 10:33 PM
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reply to post by Connector
 


Yeah, you are correct Connector, my math says it jumped 238Billion and some change.

Aug 1st DTS

Aug 2nd DTS

You're going to be looking at table III C.



posted on Aug, 3 2011 @ 11:33 PM
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reply to post by jibeho
 


It won't take long for the Treasury to issue as mujch new debt as possible to finance Obama;s last-ditch efforts to buy support for his re-election.

Watch for rampred-up spending in union-heavy fields and industries.

He's one-quarter way through the new $900 billion the "deal" gave him. It won't last long enough, and our debt-to-GDP ratio is already at 100%.

It's just like giving another dose to a "cold-turkey" addict - it'll only whet his apetite for more.

What happens when he reaches the new limit before the "commssion" comes up with new cuts/revenues?


US debt shot up $238 billion to reach 100 percent of gross domestic project after the government's debt ceiling was lifted, Treasury figures showed Wednesday.
...
The new borrowing took total public debt to $14.58 trillion, over end-2010 GDP of $14.53 trillion, and putting it in a league with highly indebted countries like Italy and Belgium.

Public debt subject to the official debt limit -- a slightly tighter definition -- was $14.53 trillion as of the end of Tuesday, rising from the previous official cap of $14.29 trillion a day earlier.

US AAA rating still under threat

jw

edit on 3-8-2011 by jdub297 because: link abd quote



posted on Aug, 4 2011 @ 02:43 AM
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Originally posted by SpaDe_
So, any idea where the money went?
Was the real issue not the debt ceiling at all, but rather some payment that was due that the public wasn't privy to? That is a lot of cheddar for one payment on something!


Maybe it was the interest on the loans being added on due date, you know, the interest that if not paid can cause the default that everyone keeps talking about.



posted on Aug, 4 2011 @ 03:08 AM
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reply to post by Chance321
 


Would that be after we pay for Bush's wars and tax cuts for the rich?

Or after we finish paying for Bush's TARP fiasco?

Quit with the pointless partisanship already..."Obamacare" was a Republican plan before Obama backed it, suddenly it became "socialist".


Both parties suck, but the Republicans suck more, they're meaner, cruder, and more treasonous than the other lot by a few hundred yards.

The rich own both parties, and therefore the government, yet would-be rich blame everyone but the ones who cause all the messes everyone else has to deal with.



posted on Aug, 4 2011 @ 04:30 AM
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It is not one political party, it is both. They both work together and agreed it wasn't just one side it is both sides. It takes two to tango and our politicians have been dancing together for decades. Get your heads out of your arses and see the god damn forest for the trees.

Let me paint a picture, for those of you who can not fathom the reality of this debt we have.







edit on 4-8-2011 by ADVISOR because: I couldnt resist the urge...to post the above.



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