Obama Has Increased Debt $5T

Obama Has Increased Debt $5T

That's $5 Trillion with a "T" !!!

That's a "5" with 12 "0's" after the 5 !!!

Well at least the Zeros are an even dozen !!!

His next goal is a "Baker's Dozen"


By Terence P. Jeffrey
March 21, 2012

(CNSNews.com) - President Barack Obama has now increased the national debt by approximately $5 trillion since the day he was inaugurated, according to the official debt figures the U.S. Treasury released at 4:00 p.m. on Wednesday.

While Obama has been president, the federal government’s debt has increased by $15,824.21 for each of the 313,223,079 million people that the Census Bureau now estimates live in the United States—and by $41,762.92 for each of the nation’s 118,682,000 households.

On Jan. 20, 2009, the day Obama was inaugurated, the federal government’s debt was $10,626,877,048,913.08. As of the close of business on Tuesday, March 20, 2012, it was $15,583,383,846,149.34.

That represents an increase of $4,956,506,797,236.26—which rounds to $5 trillion. .....

It's Too Much !!


well, $4,956,506,797,236.26 is close enough !!!


What Part of the $5Trillion has helped YOU ?

reply to post by xuenchen
Yes we can!

Destroy America
Raise unemployment
Ruin the economy
Increase entitlements
Increase government size
Increase government dependence

It's Cloward-Piven.

I hate repeating myself, but it's the bloody Cloward-Piven Strategy!

transparency, what we need is more transparency, like how the money in your pocket becomes transparent.

as Boehner said

"Congress still holds the purse strings.

We have the ability to limit their use of funds to try to bring this administration to heel,”


Guess it isn't just Obama's $5T.


www.nypost.com...

He inherited a trillion a year deficit when he walked into office....during economic collapse.

What should he have done eh?

CUT ALL SPENDING AND SOCIAL PROGRAMS while the economy spun out of control?

Obama is ONE person. He did not do this, he did what he as told to do by the Fed. The Fed simply printed money to cover the costs of THEIR wars. The US is the policeman for the Fed. The Fed accomplishes two things by their effort: it physically whacks those countries that won't get in line by killing people and taking assets then imposing a currency. The other thing it does, by printing, is pay for the efforts. The only way the Fed agrees to print, is for something in return - payment of worthless debt notes with worthless debt notes can't happen.

The Debt Note (look up the legal definition of NOTE)t, Federal Reserve Dollar, is a PROMISE to pay, not payment. So if all the debt notes were collected up today, and handed back to the Fed, WE'D STILL BE IN DEBT! So, the Fed does not want debt notes for debt notes, they want assets: The US is in the business of taking assets. The Fed Charter Ends this year, all the notes are worthless should the charter not role over, they know this and don't care about trillions etc. They hope to have a whole new currency in place to start all over with by years-endish.

reply to post by jam321

Guess it isn't just Obama's $5T.

It has been the GOP led Congress unwillingness to raise taxes on the incredibly wealthy that has stopped progress on the issue. Democrats have agreed to all kinds of tax cuts and program/spending cuts...not once could they ever get the GOP house to sign along to anything.

They want the entire burden to fall on those who can least afford it.

Originally posted by David9176
He inherited a trillion a year deficit when he walked into office....during economic collapse.

What should he have done eh?

CUT ALL SPENDING AND SOCIAL PROGRAMS while the economy spun out of control?

i would expect him to lead the nation and congress in doing what needs to be done, instead of walking into the casino and bailing out the too big to fail gamblers.

This has been the trend of EVERYONE in government since the beginning of the Bush administration.
It's not limited to one party - they both spend like drunken sailors at a whore house. Additionally, it seems that a good third of what is spent seems to magically disappear. Another third that is spent is totally unnecessary if properly managed and wars of aggression were terminated. About 1/3 then is the actual necessary spending of our government, which could be easily covered and with lightly reduced tax burdens for the average man / woman.

The first trillion he pushed was the bank bailout that was set up by Mr. Bush. I agree with you here that the bailouts only helped the rich and think it was a huge mistake. All of the Republican candidates would have spent as much or more except for Ron Paul. Too many stupid Americans aspire to be rich and that's why so many people Iike Romney. How can you ignore the rising gap in income and cost for our everyday goods. Most of you guys argue the profits of the rich should not be scrutinized and should pay lower tax rates for the purpose of job creation. Too many hard working Americans are underpaid and when they spend more of their life working over tie to make more money we tax them even harder. Most businesses in America don't offer good health insurance either. We will have a class war in America. What side will you be on? Do you really think the 1% will win?

reply to post by LittleBlackEagle

i would expect him to lead the nation and congress in doing what needs to be done, instead of walking into the casino and bailing out the too big to fail gamblers.

What would you have done if you had walked into that mess? By the way, it was Bush you pushed the bailout of the banks and ultimately signed it.

reply to post by xuenchen


even though it is so disappointing that the national debt (that we have to pay) is rising steadily, I hesitate to blame it (or anything for that matter) on Obama. He's just doing his job. I'm fairly certain that his job is to follow orders... just like the soldiers overseas killing innocent people everyday. their job is to follow orders, not ask questions. Obama is merely a figurehead. and even if Kerry or McCain were now the figurehead, i'm fairly certain the deficit would still be rising. we cannot blame Obama for a corrupt system. we can blame him for running for office, but the things that are happening in the world today are the result of years of planning, planning that wasn't done by obama. he's just following the agenda given to him by his advisers and superiors after being sworn in.

Originally posted by jam321
as Boehner said

"Congress still holds the purse strings.

We have the ability to limit their use of funds to try to bring this administration to heel,”


Guess it isn't just Obama's $5T.


www.nypost.com...

edit on 22-3-2012 by jam321 because: (no reason given)

nice point. too bad congress is owned by the lobbyists, and therefore the corporations, and therefore a few hundred of the richest people in the world. who's interests do you think they are looking out for? not mine....

Originally posted by David9176
reply to post by LittleBlackEagle

 

i would expect him to lead the nation and congress in doing what needs to be done, instead of walking into the casino and bailing out the too big to fail gamblers.

What would you have done if you had walked into that mess? By the way, it was Bush you pushed the bailout of the banks and ultimately signed it.

what i would have done is seized the FED, let the banks fail and re organize and re structure the monetary system, brought back Glass Steagall and added to it. begin the process of taking money out of politics hence eliminating the fuel for corruption. bush was just as big an ass as obama so bush started it, obama added to it ten fold.

What Are the Dangers of Too Much Debt?:

reply to post by xuenchen


Time to bring in the repo men. Shawtie his adorable dog!

But, really, this "debt" will never be repayed. more like "handout". you dont take out this kind of debt without some expectation that the system will collapse. I guess thats what the disgusting military budget is for.

PRESENT DAY AMERICA #1! TOOKOURJABS!

reply to post by LittleBlackEagle


even bush didn't start it. it was a fail at the conception. but i like your idea. so what if the economy fails. it's fake anyway. lets build something REAL for once and live with honesty.

As has been eluded too...this statement is not correct.

I don't like how things are either but disinformation doesn't make things right...people need to think clearly about this stuff. (Heck I voted for RP in 2008 as a Libertarian)...No way was I voting Dem and for sure wasn't voting for the Geezer and the looney chick...aka...the Repub ticket.

That being said...

The bailouts increased deficit and all of those were not his idea. Some worked, some went *poof*...where did that stimulus money go?

Bush's tax cut's added to the debt...alot more than people want to admit or want the "average Joe" to know

Two war's added to the debt....big time.

Loss of jobs and income tax revenue added to the debt...hard to pay taxes with no job.

Paying special interests groups subsidies has added to the debt (this has been going on for years, not his fault either)

Special tax incentives to the biggest corporations have added to the debt.

Buying top end weapons and feeding the pockets of Military contractors and the military industrial complex has added to the debt. Weapons that then someone feels compelled to go out and use. An unused weapon is a useless weapon...think hard about that and watch the "representatives" try to figure out a way to use the ones we have so their "crony friends" can sell them new ones.

It's not one person or parties fault....they all betrayed us and they all suck because of it...

reply to post by LittleBlackEagle

what i would have done is seized the FED, let the banks fail and re organize and re structure the monetary system, brought back Glass Steagall and added to it. begin the process of taking money out of politics hence eliminating the fuel for corruption. bush was just as big an ass as obama so bush started it, obama added to it ten fold.

I absolutely agree with you on glass steagall. Most people on ATS will think that's bad however.
Just another damn regulation strangling businesses!" they will say.

IMO Obama is a far better option than what the GOP is putting out there....their policies are criminal. Nothing but a transfer of wealth from the middle class and poor to the very rich.

Originally posted by David9176
reply to post by LittleBlackEagle

 

what i would have done is seized the FED, let the banks fail and re organize and re structure the monetary system, brought back Glass Steagall and added to it. begin the process of taking money out of politics hence eliminating the fuel for corruption. bush was just as big an ass as obama so bush started it, obama added to it ten fold.

doesn't seem to matter much who we have in there, the PTB will get to them like they get to our legislators and money will remain priority one over whats right.

edit on 22-3-2012 by LittleBlackEagle because: (no reason given)