Skip to comments.Obama Budget Doubles National Debt to $26.3 Trillion in 10 Years
Posted on 02/14/2011 12:50:54 PM PST by Tolerance Sucks Rocks
(CNSNews.com) If the federal budget released by President Barack Obama today is implemented, it will double the national debt over the next 10 years. The current national debt is $13.56 trillion (end of FY 2010). By the end of 2021, that debt would rise to $26.3 trillion under the White House budget.
The figures reflect the effects of Obamas fiscal year 2012 budget priorities, particularly a federal deficit that never falls below $500 billion in any year between 2010 and 2021.
The national debt both debt held by the public and debt held by government accounts (the Social Security trust fund chief among them) was $13.56 trillion on Sept. 30. 2010, the end of fiscal year 2010. (The national debt today, Deb. 14, 2011, is $14.08 trillion.)
In 2021, the national debt will have risen to $26.3 trillion, increasing by $1 trillion every year until 2021. Obamas budget does not contain any plans for balancing the federal budget or reducing the national debt.
(The national debt figures used by the Obama administration are on p. 203 of the budget, Table S-14, released today. )
What a damn disaster!.....Thank you to all the a-holes who voted for him!!
RHETORICAL QUESTION: Is he TRYING to get us to go Egypt on HIS ass?
Will be in default and bankrupt by then.
We’re already on the precipice.
The Nation will not last 10 years if the debit gets that high.
And none of this should surprise anyone.
He needs to be impeached for reckless destruction of America unbecoming of a Commander in Chief!
Is there even that much money in the world?
Wow, if the debt goes that high, the only way out is inflation, massive inflation. Can you say hello to $10.00 cup of coffee at micky dees.
Uncovered: The 15 Tax Hikes Hidden in Obamas New Budget
How about a $100 six-pack of pale ale?
The US Federal Government’s net worth is estimated to be $111T.
Perhaps it’s time to liquidate assets.
Freakin’ coke head.
Obama Akbar screams death to America!!!!
WEll, that is equivalent to a stack of $1000 bills 3,407 miles high as a stack of $1000 bills is 8” high. I can hear the taxpayer cheer. 47% of people do not pay any taxes at all, and the rest are paying less in tax, and the corporations are getting most of their profits overseas now, and, over a couple of million Americans have lots of money stashed in private banks in the Carribean, hidden from view.
The US has to borrow 40% of its budget this year and next...more to follow. Nothing computes anymore.
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