Obama’s national debt rate on track to double

President Obama likes to say that raising the nation’s borrowing limit “won’t add a dime” to the federal debt, but he neglects to mention that the government already has borrowed the equivalent of more than 60 trillion dimes since he took office.

The great spender in chief

When Mr. Obama became president in January 2009, the total federal debt stood at $10.6 trillion. This week, it hit $16.7 trillion — an increase of 57 percent. In the same time frame under President George W. Bush, total federal debt rose 38 percent. Under President Clinton, it rose 32 percent.

Obama makes Bush look like a 'fiscal conservative', and Clinton makes them both look like chumps.

“It does not increase our debt,” Mr. Obama said. “It does not grow our deficits.

So let me get this straight Obama has spent more than Bush, and more than Clinton. We have spent more money than we have taken in even with printing cash,bonds, and borrowing.

And Obama says raising the debt limit doesn't grow our deficits?

Deficits are incurred when spending is more than the cash taken in that creates debt.

Borrowing creates debt.

But 'deficits' are not going to increase !.

Paying interest of the money borrowed

Doesn't add to the deficits!

This administration is a complete joke.

reply to post by neo96


"Won't raise the deficit" I wanted to try that line on my bank but was sure they weren't stupid enough to fall for it.

has borrowed the equivalent of more than 60 trillion dimes since he took office.

Or 600 trillion pennies! Egads that's enough to make a phone line all the way to next star system. But the Chinese, Japanese and lots of others are going to want them back eventually.

Not going to get them I'd bet.

Walk down history lane:



And:



And:

Here's some alarming numbers;

Looks like they need to stop the binge spending !!!

reply to post by Bassago

"Won't raise the deficit"

Or maybe you should figure out the difference between the debt and the deficit.

Pet peeve of mine, when people talk like they know what they are talking about...but clearly use the wrong terms when trying to talk about the topic they try to be experts on.

reply to post by neo96


We're living in a soft tyranny my friend.

Spending is moot as long as Dear Leader has his golf course, personal chef, and dog trainer.

Put away your facts.

We now live in an ObamaNation!

beezzer
reply to post by neo96

 

We're living in a soft tyranny my friend.

Spending is moot as long as Dear Leader has his golf course, personal chef, and dog trainer.

Put away your facts.

We now live in an ObamaNation!

Because spending, deficits and debts are a brand new thing Obama started...huh???

We don't live in a soft tyranny...we live in a country where about half of the citizens live in a fantasy world.

AlienScience

beezzer
reply to post by neo96

 

We're living in a soft tyranny my friend.

Spending is moot as long as Dear Leader has his golf course, personal chef, and dog trainer.

Put away your facts.

We now live in an ObamaNation!

Because spending, deficits and debts are a brand new thing Obama started...huh???

We don't live in a soft tyranny...we live in a country where about half of the citizens live in a fantasy world.

And the other half is stuck in reality. An ObamaNation. Rampant unemployment, high prices, food stamps, welfare.

We have become a third world country thanks to progressive politics!

reply to post by beezzer


And had the debt limit not been raised we would have become a fourth world nation?

But carry on, it looks like the usual suspects are already in here locked in a circle "handshake".

beezzer

AlienScience

beezzer
reply to post by neo96

 

We're living in a soft tyranny my friend.

Spending is moot as long as Dear Leader has his golf course, personal chef, and dog trainer.

Put away your facts.

We now live in an ObamaNation!

Because spending, deficits and debts are a brand new thing Obama started...huh???

We don't live in a soft tyranny...we live in a country where about half of the citizens live in a fantasy world.

And the other half is stuck in reality. An ObamaNation. Rampant unemployment, high prices, food stamps, welfare.

We have become a third world country thanks to progressive politics!

Unemployment is still on the decline, prices aren't increasing any faster than normal, and food stamps and welfare have always been around.

You should really visit a third world country...everyone doesn't have cell phones, Ipads, and computers...they don't have Starbucks and other luxury item stores on every street corner either.

Like I said...fantasy.

The only people I see living in a fantasy world is Obama , and his defenders.


Simple fact when a person can't already pay the bills they have. they don't raise the amount of money they can't already pay for.


borrowing money creates both debt and deficits because of interest.

How about some people who are carrying the administrations water actually watch those 3 videos.

Instead of lying.

Evil_Santa
reply to post by beezzer

 

And had the debt limit not been raised we would have become a fourth world nation?

But carry on, it looks like the usual suspects are already in here locked in a circle "handshake".

Truth pisses you off, doesn't it.

AlienScience

beezzer

AlienScience

beezzer
reply to post by neo96

 

We're living in a soft tyranny my friend.

Spending is moot as long as Dear Leader has his golf course, personal chef, and dog trainer.

Put away your facts.

We now live in an ObamaNation!

Because spending, deficits and debts are a brand new thing Obama started...huh???

We don't live in a soft tyranny...we live in a country where about half of the citizens live in a fantasy world.

And the other half is stuck in reality. An ObamaNation. Rampant unemployment, high prices, food stamps, welfare.

We have become a third world country thanks to progressive politics!

Unemployment is still on the decline, prices aren't increasing any faster than normal, and food stamps and welfare have always been around.

You should really visit a third world country...everyone doesn't have cell phones, Ipads, and computers...they don't have Starbucks and other luxury item stores on every street corner either.

Like I said...fantasy.

I've been to plenty of 3rd world nations. The corruption is about the same.

beezzer
reply to post by neo96

 

We're living in a soft tyranny my friend.

Spending is moot as long as Dear Leader has his golf course, personal chef, and dog trainer.

Put away your facts.

We now live in an ObamaNation!

Spending only matters when there is an R by the potus name.

When it's not they don't care.

Bunch of hypocrites.

reply to post by AlienScience

Pet peeve of mine, when people talk like they know what they are talking about.

Mine too clearly Obama and his defenders don't.

reply to post by beezzer

I've been to plenty of 3rd world nations. The corruption is about the same.

Corruption doesn't make a country a third world country...the quality of life and the economy does.

We take dumps in perfectly clean drinking water...hard to say we are a third world country without looking like d-bags.

reply to post by neo96


No what he is saying is that just raising the debt limit does not increase the deficit.

What he doesn't mention is that he wants the debt limit raised so he can keep the deficits going. If he didn't plan on overspending he would not need the limit raised.

neo96
The only people I see living in a fantasy world is Obama , and his defenders.

Meanwhile

Shutdown debate damages GOP

firstread.nbcnews.com...

Maybe you are living in a fantasy world ?

Bush damaged GOP and recovery will last for decades.Bush is the worst president in History of US, that is a fact. Obama can only catch him if he cause WW3 , but then who will need Dems or Reps.

reply to post by xavi1000

Shutdown debate damages GOP

Like the left actually gives a crap. After all that is what they all want.

Maybe you are living in a fantasy world ?

Nope the people who make comments like the one below clearly are not living in reality.

Bush damaged GOP and recovery will last for decades.Bush is the worst president in History of US, that is a fact. Obama can only catch him if he cause WW3 , but then who will need Dems or Reps.

Obama clearly is the worse president in this nation's history.

Hey ?

Doesn't blame Bush ever get old ?

Why is it the left never holds Obama accountable for his EPIC failures ?

Never mind rhetorical questions.

Evil_Santa
reply to post by beezzer

 

And had the debt limit not been raised we would have become a fourth world nation?

But carry on, it looks like the usual suspects are already in here locked in a circle "handshake".

You think so? Well I posted an article about defaulting and why it would be good for our country. Care to weigh in on that thread or are you just doing drive by posts for the Democrat side?

There is Life after Default