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. )
I think I like your pic better!
:D
This is what you get from an Amateur
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.
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.
I know its splitting hairs but, its closer to 44%...
The list, ping
Let me know if you would like to be on or off the ping list
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.
Yes, you are correct, and the creditors will collect 44% plus interest for sure....creditors always split hairs to the penny.
“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?
The faster this nation goes bankrupt, the better off we will all be. =.=
Oh! Come on! It's only money. If it were something important I'd get excited about it.
And by God, they'd better get the job done.
And what is an 8" stack of $1000 bills worth?
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.
$1 million dollars is represented by an 8” stack of $1000 bills.
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