Obama on Pace to Borrow $6.2T in One Term

CNSnews ^ | January 13, 2012 | Terence P. Jeffrey

[opentalk]

President Barack Obama has been increasing the national debt during his presidency by an average of $4.24 billion per day ($4,240,506,004.34) putting him on a pace to increase the national debt by $6.2 trillion ($6,195,379,272,340.74) by the end of his term on Jan. 20, 2013, according to the debt figures published by the U.S. Treasury.

That $6.2 trillion is more debt than was accumulated by all U.S. presidents from George Washington through Bill Clinton combined.

In fact, the U.S. national debt did not eclipse the $6.195 trillion level—the amount Obama is on pace to increase it in one term—until August 19, 2002, during President George W. Bush’s second year of office.

[ClearCase_guy]

The Democrats hated Bush for all the damage he did to the economy with his massive deficits. In 2007 alone, I believe, Bush’s deficit tipped the scales at $160B.

[Psycho_Bunny]

This is spending at a level of High Treason.

[rawhide]

Yes, and the RATS in congress are giving obamma a pass!

[2111USMC]

In a just world, this a$$hole would be led out of the White House in handcuffs by U.S. Marshals.

[Jet Jaguar]

ping

[opentalk]

From recent weekly address: link

…Let me be clear: I will only use this authority for reforms that result in more efficiency, better service, and a leaner government

[Jane Long]

Treasonous Trillionaire.

[ProtectOurFreedom]

Yes, it passes the test of “high crimes and misdemeanors” in my book. This is an existential threat to the Republic.

BUT WHERE is the money going? Nobody ever answers this question.

[DJ MacWoW]

Click The Pic

"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that, the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."

~ Senator Barack H. Obama, March 2006

[Iron Munro]

Obama on Pace to Borrow $6.2T in One Term

And most of it has just been given away.....

[Clintonfatigued]

Tge best case that can be made for Libertarian principles is Barack Obama’s record. He’s proof that they were right all along.

[tet68]

BUT WHERE is the money going? Nobody ever answers this question.

Re-election.

[tet68]

Obama is like the tout that leads you to a loan shark,
a kind of remora, he lives on the VIG.

Remember, OBAMA isn’t borrowing this.

YOU ARE!

[Nachum]

Thanks for the heads up Jet Jaguar

The list, Ping

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

http://www.nachumlist.com/

[Hoodat]

Yes, and the RATS in congress are giving obamma a pass!

So are the Republicans.

[LucyT]

0hbummer on Pace to Borrow $6.2T in One Term

. . . . Article, - then see graphic at # 11.

.

[Smokin' Joe]

BUT WHERE is the money going? Nobody ever answers this question.

Aside from numbered accounts in faraway places, enough to buy 51% of a Congress and a few judges, and miscellaneous baksheesh and walkin' around money, Oh! and arming his private Cartel Army, who knows? Vacation pay?

[thecodont]

Thanks for the graphic with the pics of the two Georges, who look appropriately distressed about this grave situation.

[GregNH]

US debt visualized: Stacked in 100 dollar bills