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Obama Budget Doubles National Debt to $26.3 Trillion in 10 Years
CNSNews.com ^ | February 14, 2011 | Matt Cover

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 Obama’s 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. Obama’s 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. )


TOPICS: Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: 0b0z0; administration; barackobama; bho44; budget; debt; deficit; deficits; nationaldebt; obama; spending

1 posted on 02/14/2011 12:50:59 PM PST by Tolerance Sucks Rocks
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To: Tolerance Sucks Rocks

What a damn disaster!.....Thank you to all the a-holes who voted for him!!


2 posted on 02/14/2011 12:54:04 PM PST by AngelesCrestHighway
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To: Tolerance Sucks Rocks

RHETORICAL QUESTION: Is he TRYING to get us to go Egypt on HIS ass?


3 posted on 02/14/2011 12:54:11 PM PST by Lucky9teen (Jobs? Nope! Economy? Nope! Disarm the U.S? Yep! Impeach the treasonous Marxist Muslim usurper bast)
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To: Tolerance Sucks Rocks

Will be in default and bankrupt by then.

We’re already on the precipice.


4 posted on 02/14/2011 12:54:35 PM PST by diverteach (If I find liberals in heaven after my death.....I WILL BE PISSED!!!)
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To: Tolerance Sucks Rocks

The Nation will not last 10 years if the debit gets that high.


5 posted on 02/14/2011 12:54:47 PM PST by 2001convSVT (That Beck guy was right about gold, too.)
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To: Tolerance Sucks Rocks

And none of this should surprise anyone.


6 posted on 02/14/2011 12:56:49 PM PST by pallis
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To: Lucky9teen

7 posted on 02/14/2011 12:59:36 PM PST by AngelesCrestHighway
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To: Tolerance Sucks Rocks

He needs to be impeached for reckless destruction of America unbecoming of a Commander in Chief!


8 posted on 02/14/2011 1:01:59 PM PST by AngelesCrestHighway
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To: Tolerance Sucks Rocks

Impeach now.


9 posted on 02/14/2011 1:02:04 PM PST by OldNewYork (social justice isn't justice; it's just socialism)
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To: Tolerance Sucks Rocks
Officer Barbrady Pictures, Images and Photos "Move along, people. Nothing to see here."
10 posted on 02/14/2011 1:04:00 PM PST by ConjunctionJunction
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To: Tolerance Sucks Rocks

Is there even that much money in the world?


11 posted on 02/14/2011 1:09:57 PM PST by Guyin4Os (A messianic ger-tsedek)
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To: Tolerance Sucks Rocks

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.


12 posted on 02/14/2011 1:12:47 PM PST by steveab (When was the last time someone tried to sell you a CO2 induced climate control system for your home?)
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To: Tolerance Sucks Rocks

Uncovered: The 15 Tax Hikes Hidden in Obama’s New Budget

http://www.theblaze.com/stories/uncovered-the-15-tax-hikes-hidden-in-obamas-new-budget/


13 posted on 02/14/2011 1:14:01 PM PST by Hotlanta Mike (TeaNami)
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To: Tolerance Sucks Rocks

14 posted on 02/14/2011 1:15:14 PM PST by Hotlanta Mike (TeaNami)
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To: steveab

How about a $100 six-pack of pale ale?


15 posted on 02/14/2011 1:29:34 PM PST by Tolerance Sucks Rocks (Valentine's Day: when you buy stuff you can't afford for somebody who won't [NSFW] anyway.)
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To: Tolerance Sucks Rocks

The US Federal Government’s net worth is estimated to be $111T.
Perhaps it’s time to liquidate assets.


16 posted on 02/14/2011 1:31:34 PM PST by griswold3 (We defend conservatism by our very way of life.)
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To: ConjunctionJunction

17 posted on 02/14/2011 1:34:46 PM PST by mentor2k
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To: Tolerance Sucks Rocks

Freakin’ coke head.


18 posted on 02/14/2011 1:54:36 PM PST by TribalPrincess2U (They don't need to do another 911. They have BHO.)
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To: Tolerance Sucks Rocks

Obama Akbar screams death to America!!!!

Frigg’in muzzie


19 posted on 02/14/2011 2:51:45 PM PST by timetostand (Ya say ya wanna revolution -- OK!)
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To: AngelesCrestHighway

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.


20 posted on 02/14/2011 2:59:22 PM PST by givemELL (Does Taiwan eet the Criteria to Qualify as an "Overseas Territory of the United States"? by Richar)
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To: mentor2k

I think I like your pic better!

:D


21 posted on 02/14/2011 3:03:25 PM PST by ConjunctionJunction
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To: Tolerance Sucks Rocks

This is what you get from an Amateur


22 posted on 02/14/2011 3:10:15 PM PST by ballplayer
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To: 2001convSVT

Agreed. We cannot sustain a $26 trillion deficit. We will be a third world debtor country while the reat of the world passes us by. THIS is what these communists have wanted all along. The destruction of the United States from within. Either the GOP comes to the rescue or we are done. The only other path is seccession and breaking up into socialist and capitalist nations. It looks like the penetration of communists in the 1930s is about to manifest into the achieved objective of the Internationale.


23 posted on 02/14/2011 3:18:37 PM PST by April Lexington (Study the Constitution so you know what they are taking away!)
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To: 2001convSVT

Agreed. We cannot sustain a $26 trillion deficit. We will be a third world debtor country while the reat of the world passes us by. THIS is what these communists have wanted all along. The destruction of the United States from within. Either the GOP comes to the rescue or we are done. The only other path is seccession and breaking up into socialist and capitalist nations. It looks like the penetration of communists in the 1930s is about to manifest into the achieved objective of the Internationale.


24 posted on 02/14/2011 3:18:41 PM PST by April Lexington (Study the Constitution so you know what they are taking away!)
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To: givemELL
The US has to borrow 40% of its budget this year and next...more to follow. Nothing computes anymore.

I know its splitting hairs but, its closer to 44%...

25 posted on 02/14/2011 3:21:33 PM PST by April Lexington (Study the Constitution so you know what they are taking away!)
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


26 posted on 02/14/2011 3:32:12 PM PST by Nachum (The complete Obama list at www.nachumlist.com)
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To: mentor2k; All
Get yo' Obama stash before the printers run out of ink.............
27 posted on 02/14/2011 3:40:36 PM PST by Hotlanta Mike (TeaNami)
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To: timetostand
Obama Akbar screams death to America
28 posted on 02/14/2011 3:43:06 PM PST by Hotlanta Mike (TeaNami)
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To: Lucky9teen

He’s counting on it. Civil disorder has long been used by totalitarian regimes to cement power. The puppeteers give us a BHO for a few years and expect that we will then vote for ANY candidate they later put on display for us. He’ll be red, white, and blue through and through during the campaign and people will climb over their neighbors to vote for him. Then, come January next, the reality will set in that we just elected someone far, far worse. It’s an old political trick and it works very well when the majority of the citizenry are ignorant and apathetic.


29 posted on 02/14/2011 4:42:15 PM PST by ronnyquest (Barack H. Obama is the Manchurian Candidate. What are you going to do about it?)
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To: April Lexington

Yes, you are correct, and the creditors will collect 44% plus interest for sure....creditors always split hairs to the penny.


30 posted on 02/14/2011 5:11:36 PM PST by givemELL (Does Taiwan eet the Criteria to Qualify as an "Overseas Territory of the United States"? by Richar)
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To: Tolerance Sucks Rocks

“In 2021, the national debt will have risen to $26.3 trillion, increasing by $1 trillion every year until 2021. Obama’s budget does not contain any plans for balancing the federal budget or reducing the national debt.”

Hmmmm...Obama can write whatever he wants, the presidents after him propose their own budgets and 2021 is 10 years away. Obama isn’t using Bush’s budget blueprint, is he?


31 posted on 02/14/2011 8:14:56 PM PST by mewykwistmas ("If the Egyptians are hungry, let them eat ethanol")
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To: Tolerance Sucks Rocks

The faster this nation goes bankrupt, the better off we will all be. =.=


32 posted on 02/15/2011 5:26:51 AM PST by cranked
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To: AngelesCrestHighway
What a damn disaster!.....Thank you to all the a-holes who voted for him!!

Oh! Come on! It's only money. If it were something important I'd get excited about it.

33 posted on 02/15/2011 7:52:55 AM PST by dearolddad
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To: Tolerance Sucks Rocks
I want to see cuts -- I mean CUTS -- from this congress.

And by God, they'd better get the job done.

34 posted on 02/15/2011 11:35:05 AM PST by GVnana
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To: givemELL
WEll, that is equivalent to a stack of $1000 bills 3,407 miles high as a stack of $1000 bills is 8” high.

And what is an 8" stack of $1000 bills worth?

35 posted on 02/15/2011 12:14:45 PM PST by Tolerance Sucks Rocks (Valentine's Day: when you buy stuff you can't afford for somebody who won't [NSFW] anyway.)
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To: cranked

Not unless you like paying $10,000 for a six-pack of beer. I doubt that the dollar will be worth doodly-squat if we go bankrupt.


36 posted on 02/15/2011 12:18:11 PM PST by Tolerance Sucks Rocks (Valentine's Day: when you buy stuff you can't afford for somebody who won't [NSFW] anyway.)
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To: Tolerance Sucks Rocks

$1 million dollars is represented by an 8” stack of $1000 bills.


37 posted on 02/15/2011 1:08:33 PM PST by givemELL (Does Taiwan eet the Criteria to Qualify as an "Overseas Territory of the United States"? by Richar)
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