U.S. National Debt Clock (thanks RightWhale for the link):
Posted on 10/05/2011 6:11:04 PM PDT by Nachum
CNSNews.com) - The Obama administration passed another fiscal milestone this week, according to new data released by the Treasury Department. As of the close of business on Oct. 3, the total national debt was $14,837,099,271,196.71—up about $44.8 billion from Sept. 30.
That means that in the less-than-three-years Obama has been in office, the federal debt has increased by $4.212 trillion--more than the total national debt of about $4.1672 trillion accumulated by all 41 U.S. presidents from George Washington through George H.W. Bush combined.
This $4.212-trillion increase in the national debt means that during Obama’s term the federal government has already borrowed about an additional $35,835 for every American household--or $44,980 for every full-time private-sector worker. (According to the Census Bureau there were about 117,538,000 households in the country in 2010, and, according to the Bureau of Labor Statistics, there were about 93,641,000 full-time private-sector workers.)
(Excerpt) Read more at cnsnews.com ...
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And the debt-to-GDP ratio now stands at 98.9%.
Dead man walking.
Sooo....
What if we just shut it down for a few years?
Who said Obama has accomplished nothing? It takes some doing to stack up more debt than just the last two presidents combined, but more than ALL the presidents?! Some people are destined to be famous, others to be infamous for their deeds.
When he has increased the debt more than everyone including the current president he’ll really have done it.
The amazing thing about the current debt is, it’ll all be paid off in 30 years at the latest.
Not that there won’t be more where that came from, of course.
[reprise] It's worth remembering that in 1801, when Jefferson became president, the US national debt was around $100 million, about 10 times annual federal revenues. This was literally "the cost of freedom," and would correspond today to a national debt around $30 trillion. Since our actual national debt is $13+ trillion, the government is in better financial shape today than it was in Jefferson's time. And at the time, Jefferson's number one priority was paying down the national debt. So, how did he do it? How does ANY wise government ever increase its revenues? Yes, that's right! JEFFERSON REDUCED GOVERNMENT SPENDING AND CUT TAXES.-- BroJoeKThank BroJoeK, and for that matter, thanks President Jefferson.
It really gets fun when the international community quits buying our bonds - unless they get paid more...
A heck of a fine job. Destroy the nation financially, morally, ethically, disembowel its military, destroy its ally relationships, cast the mid east into turmoil , passing advantage to the muslims.... a heck of a fine job by the Ghazi in the White House! A great muslim strategy for the empowerment of global islam. Take down the hub of western man in one quick swipe.
The bass-turd should be impeached.
A heck of a fine job. Destroy the nation financially, morally, ethically, disembowel its military, destroy its ally relationships, cast the mid east into turmoil , passing advantage to the muslims.... a heck of a fine job by the Ghazi in the White House! A great muslim strategy for the empowerment of global islam. Take down the hub of western man in one quick swipe.
The bass-turd should be impeached.
Bump
Hey, don’t you know Obama is fighting for the ‘little guy’!
He’s a part of it. But he is just one in a long line of leftists who hate America and have been designing and implementing her downfall for decades and decades.
He isn’t smart enough to deserve the credit of the downfall. A hundred thousand people all took a chip of stone from the fortress until the keystone was held in place by a grain of sand.
All he did was whisk that grain of sand away.
That's greek to me.
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