Skip to comments.$7,060,259,674,497.51--Federal Debt Up $7 Trillion Under Obama
Posted on 08/04/2014 9:35:21 AM PDT by F15Eagle
(CNSNews.com) - The total federal debt of the U.S. government has now increased more than $7 trillion during the slightly more than five and a half years Barack Obama has been president.
That is more than the debt increased under all U.S. presidents from George Washington through Bill Clinton combined, and it is more debt than was accumulated in the first 227 years of this nation's existence--from 1776 through 2003.
The total federal debt first passed the $7-trillion mark on Jan. 15, 2004, after President George W. Bush had been in office almost three years.
When President Obama took office on Jan. 20, 2009, the total federal debt was $10,626,877,048,913.08. As of the close of business on July 30, 2014, it had risen to $17,618,599,653,160.19--up $6,991,722,604,247.11 from Obamas first inauguration day.
By the close of business on July 31, 2014, it had risen to $17,687,136,723,410.59up $7,060,259,674,497.51 since Obama first inauguration day.
(Excerpt) Read more at cnsnews.com ...
"Is freedom anything else than the right to live as we wish?
Steepest and fastest climb in history
Great post. Thanks.
Socialism Is Legal Plunder - “The Law”; Frederic Bastiat 1801-1850
BIG GOVERNMENT IS CRONY SOCIALISM
He couldn’t spend it without the Republican House giving it to him.
The real question is this:
What are the consequences?
Collapse via Cloward-Piven to impose communism.
And we have so much to show for the spending.
Obama was touting yesterday that he have reduced the “deficit” by half - yet he has increased the national debt by over 7 trillion. I know that the national debt and the deficit are not the same thing, and that Obama has raised taxes, but has he really increased revenue that somehow reduced the deficit for a couple of years? I can’t believe that he reduced any spending.
The Bush II years were almost as bad. Proof that not just any GOP candidate will do to correct this problem.
You got that right, Toad.
they are acting like there is no “tomorrow”
could be your theory or something else
something else possibility that bugs me.
If I recall correctly, Obama was really saying that he had reduced the rate at which federal spending was increasing. More smoke and mirrors.
So who is managing his debt better, someone who already owes $1000 and borrows another 20%, or someone who already owes $5000 and borrows another 15%?
Obama would have you believe the second person is doing the better job.
All the more reason to repeal and replace the 16th Amendment with something far stricter, IMHO, which has led to this government spending train wreck.
If an Article V Convention were ever to materialize, this should be first and foremost the most important thing that gets accomplished as well as restoring the Constitution and limited government.
It’s not my theory.
The communists, Cloward & Piven, wrote that white paper as a guide to impose communism on America.
Cloward & Piven were professors at Columbia during obamatollah’s time as a student there. They also have been at his policy signings.
The history of the failed UK Medical System and the history of our failed Veterans Administration were both ignored by Romneycare Romney and his Democrat supporters of Obamacare.
If stupidity is defined as being incapable of learning, then Romney and all the Democrats who voted for Obamacare are indeed truly stupid.
It is time for the currently Republican-led US House to terminate funding for Obamacare before November, 2014.
Reasons to do so:
* Is is possible that the Democrats could win back control of the US House in November, 2014;
* Eliminate the Obamacare Socialized Health Insurance Tax, (OSHIT);
* Stop the insanity of the Draft Romney Campaign;
* Give Republican and Independent Voters a reason to vote for Republicans again;
* Defeat the LEFT in both political parties, and
* Allow Candidates in both political parties to focus on re-building America during the 2016 National Election Campaign as we recover from the disastrous Obamanation of America.
I have a novel idea- Let’s give the pResident a no-limit credit card.....Oh, wait...
I know C P want to overwhelm and collapse the system but I have never read the white paper.
Does it involve killing people? Who does the killing?
"...nip the shoots of arbitrary power in the bud, is the only maxim which can ever preserve the liberties of any people. When the people give way, their deceivers, betrayers, and destroyers press upon them so fast, that there is no resisting afterwards. The nature of the encroachment upon the American constitution is such, as to grow every day more and more encroaching. Like a cancer, it eats faster and faster every hour. The revenue creates pensioners, and the pensioners urge for more revenue. The people grow less steady, spirited, and virtuous, the seekers more numerous and more corrupt, and every day increases the circles of their dependents and expectants, until virtue, integrity, public spirit, simplicity, and frugality, become the objects of ridicule and scorn, and vanity, luxury, foppery, selfishness, meanness, and downright venality swallow up the whole society." - John Adams
"This was a favorable moment to shut and bar the door against paper money." [This statement referred to a proposed provision in Article I, Section 8, that would have read 'and emit bills of credit (paper money) of the United States,' which the Founders rejected by an overwhelming vote.] - James Madison- Notes of the Federal Convention 1787
"...there have always been those who wish to enlarge the powers of the General Government. There is but one safe rule...confine (it) within the sphere of its appropriate duties. It has no power to raise a revenue or impose taxes except for the purposes enumerated in the Constitution....Every attempt to exercise power beyond these limits should be promptly and firmly opposed." - Andrew Jackson's Valedictory
"...experience hath shewn, that even under the best forms (of government), those entrusted with power have, in time, and by slow operations, perverted it into tyranny; and it is believed that the most effectual means of preventing this would be, to illuminate...the minds of the people...to give them knowledge of those facts, which history exhibiteth. History, by apprizing them of the past, will enable them to judge of the future...it will qualify them as judges of the actions and designs of men; it will enable them to know ambition under every disguise it may assume; and knowing it, to defeat its views...." - Jefferson's Bill for the more general diffusion of knowledge for Virginia
"Although all men are born free, slavery has been the general lot of the human race. Ignorant--they have been cheated; asleep--they have been surprised; divided--the yoke has been forced upon them. But what is the lesson?...the people ought to be enlightened, to be awakened, to be united, that after establishing a government they should watch over it....It is universally admitted that a well-instructed people alone can be permanently free." - James Madison
"These principles form the bright constellation which has gone before us and guided our steps through an age of revolution and reformation. The wisdom of our sages and the blood of our heroes have been devoted to their attainment. They should be the creed of our political faith, the text of civic instruction, the touchstone by which to try the services of those we trust; and should we wander from them in moments of error or of alarm, let us hasten to retrace our steps and to regain the road which alone leads to peace, liberty, and safety." - Thomas Jefferson-First Inaugural Statement of Principles of Good Government
The difference is Bush was hit by 911. Look at the curve right before 911. It was leveling off. Context counts.
Certainly not the elite. Some of the more devout followers may decide to do some killing but the basic strategy is destruction of society by disruption not destruction by killing. Once civil society is destroyed then killing can commence but that is just an aftereffect.
I certainly considered that. But every recent president has always had some reason to increase the debt. It's just got to stop.
Was Iraq worth the cost of a full-blown invasion and occupation? Frederick the Great once said "He who defends everything defends nothing." A modern corollary might be "He who has armies everywhere will bankrupt the nation."
The Booshies are big grubment spenders. Don’t allow those Liberals to fool ya.
The libs will either blame it on Bush or calim the xerox machine is printing new money as fast as it can.
Rules for Changing a Limited Republican Government into an Unlimited
Hereditary One Volume (?) 1784-1796 - Philip Freneau
6. But the grand nostrum will be a public debt, provided enough of it can be got and it be medicated with the proper ingredients. If by good fortune a debt be ready at hand, the most is to be made of it. Stretch it and swell it to the utmost the items will bear. Allow as many extra claims as decency will permit. Assume all the debts of your neighbors - in a word, get as much debt as can be raked and scraped together, and when you have got all you can, “advertise” for more, and have the debt made as big as possible. This object being accomplished, the next will be to make it as perpetual as possible; and the next to that, to get it into as few hands as possible. The more effectually to bring this about, modify the debt, complicate it, divide it, subdivide it, subtract it, postpone it, let there be one-third of two-thirds, and two-thirds of one-third, and two-thirds of two-thirds; let there be 3 percents, and 4 percents, and 6 percents, and present 6 percents, and future 6 percents. To be brief, let the whole be such a mystery that a few only can understand it; and let all possible opportunities and informations fall in the way of these few to cinch their advantages over the many.
7. It must not be forgotten that the members of the legislative body are to have a deep stake in the game. This is an essential point, and happily is attended with no difficulty. A sufficient number, properly disposed, can alternately legislate and speculate, and speculate and legislate, and buy and sell, and sell and buy, until a due portion of the property of their constituents has passed into their hands to give them an interest against their constituents, and to ensure the part they are to act. All this, however, must be carried on under the cover of the closest secrecy; and it is particularly lucky that dealings in paper admit of more secrecy that any other. Should a discovery take place, the whole plan may be blown up.
8. The ways in which a great debt, so constituted and applied, will contribute to the ultimate end in view are both numerous and obvious. (1) The favorite few, thus possessed of it, whether within or without the government, will feel the staunchest fealty to it, and will go through thick and thin to support it in all its oppressions and usurpations. (2) Their money will give them consequence and influence, even among those who have been tricked out of it. (3) They will be the readiest materials that can be found for a hereditary aristocratic order, whenever matters are ripe for one. (4) A great debt will require great taxes; great taxes, many taxgatherers and other officers; and all officers are auxiliaries of power. (5) Heavy taxes may produce discontents; these may threaten resistance; and in proportion to this danger will be the pretense for a standing army to repel it. (6) A standing army, in its turn, will increase the moral force of the government by means of its appointments, and give it physical force by means of the sword, thus doubly forwarding the main object.
9. The management of a great funded debt and a extensive system of taxes will afford a plea, not to be neglected, for establishment of a great incorporated bank. the use of such a machine is well understood. If the Constitution, according to its fair meaning, should not authorize it, so much the better. Push it through by a forced meaning and you will get in the bargain an admirable precedent for future misconstructions.
In fashioning the bank, remember that it is to be made particularly instrumental in enriching and aggrandizing the elect few, who are to be called in due season to the honors and felicities of the kingdom preparing for them, and who are the pillars that must support it. It will be easy to throw the benefit entirely into their hands, and to make it a solid addition of 50, or 60, or 70 percent to their former capitals of 800 percent, or 900 percent, without costing them a shilling; while it will be difficult to explain to the people that this gain of the few is at the cost of the many, that the contrary may be boldly and safely pretended. The bank will be pregnant with other important advantages. It will admit the same men to be, at the same time, members of the bank and members of the government. The two institutions will thus be soldered together, and each made stronger. Money will be put under the direction of the government, and government under the direction of money. To crown the whole, the bank will have a proper interest in swelling and perpetuating the public debt and public taxes, with all the blessings of both, because its agency and its profits will be extended in exact proportion.
10. “Divide and govern” is a maxim consecrated by the experience of ages, and should be familiar in its use to every politician as the knife he carries in his pocket. In the work here to be executed, the best effects may be produced by this maxim, and with peculiar facility. An extensive republic made up of lesser republics necessarily contains various sorts of people, distinguished by local and other interests and prejudices. Let the whole group be well examined in all its parts and relations, geographical and political, metaphysical and metaphorical; let there be first a northern and a southern section, by a line running east and west, and then an eastern and western section, by a line running north and south. By a suitable nomenclature, the landholders cultivating different articles can be discriminated from one another, all from the class of merchants, and both from that of manufacturers.
One of the subordinate republics may be represented as a commercial state, another as a navigation state, another as a manufacturing state, others as agricultural states; and although the great body of people in each be really agricultural, and the other characters be more or less common to all, still it will be politic to take advantage of such an arrangement. Should the members of the great republic be of different sizes, and subject to little jealousies on that account, another important division will be ready formed to your hand. Add again the division that may be carved out of personal interests, political opinions, and local parties. With so convenient an assortment of votes, especially with the help of the marked ones, a majority may be packed for any question with as much ease as the odd trick by an adroit gamester, and any measure whatever carried or defeated, as the great revolution to be brought about may require.
It is only necessary, therefore, to recommend that full use be made of the resource; and to remark that, besides the direct benefit to be drawn from these artificial divisions, they will tend to smother the true and natural one, existing in all societies, between the few who are always impatient of political equality and the many who can never rise above it; between those who are to mount to the prerogatives and those who are to be saddled with the burdens of the hereditary government to be introduced - in one word, between the general mass of the people, attached to their republican government and republican interests, and the chosen band devoted to monarchy and Mammon. It is of infinite importance that this distinction should be kept out of sight. The success of the project absolutely requires it.
11. As soon as sufficient progress in the intended change shall have been made, and the public mind duly prepared according to the rules already laid down, it will be proper to venture on another and a bolder step toward a removal of the constitutional landmarks. Here the aid of the former encroachments and all the other precedents and way-paving maneuvers will be called in of course. But, in order to render the success more certain, it will be of special moment to give the most plausible and popular name that can be found to the power that is to be usurped. It may be called, for example, a power for the common safety or the public good, or, “the general welfare.” If the people should not be too much enlightened, the name will have a most imposing effect. It will escape attention that it means, in fact, the same thing with a power to do anything the government pleases “in all cases whatsoever.” To oppose the power may consequently seem to the ignorant, and be called by artful, opposing the “general welfare”, and may be cried down under that deception.
h/t FReeper Publius
for the above link in post #7 here...
On the mark.
Such large and growing federal debt could have serious negative consequences, including restraining economic growth in the long term, giving policymakers less flexibility to respond to unexpected challenges, and eventually increasing the risk of a fiscal crisis (in which investors would demand high interest rates to buy the governments debt).
I think there is no tomorrow.
Unfortunately. At least what we all once knew as America.