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Keyword: nationaldebt

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  • The Five Most Catastrophic Hidden Costs of the Obama Presidency

    08/24/2011 12:24:59 PM PDT · by Kaslin · 11 replies
    Pajamas Media ^ | August 24, 2011 | Kyle- Anne Shiver
    Deep prices waiting to pounceWe well remember candidate Barack Obama’s ’08 throngs laying in breathless wait for the “Lightworker” to appear and speak as “sort of like God” from his teleprompter on high. Now, with nearly everything this president has touched lying in shambles, a shrunken Obama whines from town to town, transported in a taxpayer-purchased bus that resembles a big, fat hearse — the perfect symbol for the harbinger of economic death that Obama’s presidency has become.It’s painfully apparent now that the American people were scammed in ’08 by Barack the Bamboozler in what will be known historically as...
  • Obama Is Unpatriotic

    08/24/2011 12:00:15 PM PDT · by chatter4 · 6 replies
    Youtube ^ | August 24, 2011 | Chatter4
    Obama has already added over $4 trillion in only 2 1/2 years. Is that Patriotic? Obama himself said it is not...
  • National debt has increased $4 trillion under Obama [Obama blames policies inherited from......]

    08/22/2011 4:51:56 PM PDT · by Sub-Driver · 9 replies
    National debt has increased $4 trillion under Obama By Mark Knoller The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama's watch. The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion. It's the most rapid increase in the debt under any U.S. president. The national debt increased $4.9 trillion during the eight-year presidency of George W. Bush. The debt now is rising at a pace to surpass that amount during Mr. Obama's four-year term. Mr....
  • US will never default, Vice-President Biden tells China

    08/21/2011 11:42:17 AM PDT · by Baladas · 33 replies
    BBC News ^ | 21 August 2011 | staff
    United States Vice-President Joe Biden, who is visiting China, has said the US would never default on its debt. In a speech on the last day of his visit, he reiterated that China's large holdings of dollar assets were safe. His trip comes amid mounting tension between the two over America's debt. Chinese officials have criticised the political row in the US over raising its borrowing ceiling, and expressed concern over the recent downgrade of the country's credit rating. "You're safe," Mr Biden told university students in the south-western town of Chengdua, in answer to a question about Washington's ability...
  • Your share of the national debt is $246,000, but state indebts can add another $23,000 to your tab

    08/17/2011 8:12:52 AM PDT · by jmaroneps37 · 8 replies · 1+ views ^ | August 17, 2011 | Kevin Coach Collins
    Our current national debt is more than $14.4 TRILLION dollars and your personal share is more than $246,000! Using $40,000 as an average yearly income, this means our government has eaten through more than six years of our income. If these numbers were the only debt piled on our heads it would be bad enough, unfortunately this $246,000 is only our share of the federal debt. Depending on the state you live in, your indebtedness can be much worse. A new report from the Institute for Truth In Accounting (IFTIA) holds some disturbing news about how deep some states have...
  • What's the Real National Debt? $211,000,000,000,000

    08/08/2011 11:36:18 AM PDT · by SeekAndFind · 8 replies
    Christian Post ^ | 08/08/2011 | Napp Nazworth
    The national debt is at $14.5 trillion, but the real debt is the $211 trillion in unfunded liabilities. The national debt is the United States' current outstanding debt obligations. Though the current debt is quite high, discussion of the current debt avoids the real issue that Standard & Poor's attempted to raise with its downgrade of the nation's credit rating. The current level of debt is large, but manageable. The levels of future debt are where the real problem lies and where policy solutions need to be addressed. The U.S. government has made promises that it will be unable to...
  • Amid Criticism on Downgrade of U.S., S.&P. Fires Back

    08/07/2011 5:17:23 AM PDT · by reaganaut1 · 35 replies
    New York Times ^ | August 6, 2011 | NELSON D. SCHWARTZ and ERIC DASH
    The day after Standard & Poors took the unprecedented step of stripping the United States government of its top credit rating, the ratings agency offered a full-throated defense of its decision, calling the bitter stand-off between President Obama and Congress over raising the debt ceiling a debacle. It warned that further downgrades may lie ahead. In an unusual Saturday conference call with reporters, senior S.& P. officials insisted the ratings firm hadnt overstepped its bounds by focusing on the political paralysis in Washington as much as fiscal policy in determining the new rating. The debacle over the debt ceiling continued...
  • Anger Over Credit Rating Resurfaces in Washington

    08/07/2011 5:06:01 AM PDT · by reaganaut1 · 40 replies
    New York Times ^ | August 6, 2011 | LOUISE STORY, JULIE CRESWELL and GRETCHEN MORGENSON
    The frustration in the air was palpable. Officials from the credit ratings agency Standard & Poors were meeting with Congressional leaders on a stifling late day in late July to discuss the thorniest issue in Washington: the effort to cut the nations deficit and raise the borrowing limit to avert a default. S.& P. and two financial industry groups listened to various proposals for debt reduction and warned the lawmakers of the impact a default would have on world markets, according to a Congressional staff member in attendance. The staff member said the agency was providing guidance on what target...
  • The Hawks Dilemma

    08/06/2011 8:36:04 AM PDT · by AfricanChristian · 6 replies
    New York Times ^ | Ross Douthat
    Theres plenty to be said about the details of the debt ceiling deal, but lets start with the provision thats making conservatives unhappiest: The use of broad defense cuts as part of the trigger mechanism that would automatically slash spending if the latest deficit commissions recommendations cant pass Congress. (See Rich Lowry, Bill Kristol, Yuval Levin, and others for expressions of concern and/or outright alarm.) In effect, defense cuts assumed the role that liberals wanted revenue increases to play in these negotiations, becoming the place where Republicans would give a little in order to get the deal they wanted done....
  • Obamas Bad Bargain (the left is becoming unhinged)

    08/03/2011 9:54:12 AM PDT · by Huskrrrr · 50 replies
    The Nation ^ | July 27, 2011 | William Greider
    The most distressing outcome of the deficit hysteria gripping Washington may be what Barack Obama has revealed about himself. It was disconcerting to watch the president slip-slide so easily into voicing the fallacious economic arguments of the right. It was shocking when he betrayed core principles of the Democratic Party, portraying himself as high-minded and brave because he defied his loyal constituents. Supporters may hope this rightward shift was only a matter of political tactics, but I think Obama has at last revealed his sincere convictions. If he wins a second term, he will be free to strike a truly...
  • Young Girl Explains the Debt to Dad

    08/01/2011 7:16:22 PM PDT · by CharlyFord · 20 replies
    YouTube ^ | Jul 31, 2011 | RightChange
    Young Girl Explains the Debt to Dad
  • A Fool's Tower: Debt, Default, and Worldview -Chuck Colson's Breakpoint commentary

    07/31/2011 5:59:13 AM PDT · by InvisibleChurch · 14 replies · 1+ views ^ | 07'28'11 | Chuck Colson
    The clock is ticking. The United States is on the verge of default. Congress and the president seem unable to come together and find an agreement avoiding an economic catastrophe. How in the world did we get into this fix? Well, it didnt happen overnight. Its been coming for a generation. For years, fiscal conservatives have warned about the dangers of out-of-control borrowing and spending, but current and previous presidents and congresses have ignored them, rolling up a massive national debt. The bigger question is why did the American people stand for this? The answer is painfully clear. Because the...
  • Carney Gets Hit For Ten Minutes On The Obama Plan (Or Lack Thereof)

    After bobbing-and-weaving for nine minutes, Carney finally says what everybody knows: the president wont put his plan on paper because he doesnt want it to become politically charged before a compromise can be reached. In other words, youve got to pass it to find out whats in it:
  • Debt Financing Business As Usual

    07/26/2011 4:04:43 PM PDT · by street_lawyer · 6 replies
    In the cart below the blue line represents government spending and the red line represents tax revenue. When they say we have a spending problem not a revenue problem I dont buy it. I think the real problem is that industry has been disappearing from the economy for at least the past 40 years and it would be fair to say the past 70 years. Its not about what the economy is doing on a year by year. Its not about consumer confidence. Its not about spending on national defense, its not even about social security and Medicare. The problem...
  • The Gold Standard, Printing Money and the Federal Reserve

    07/24/2011 12:40:22 PM PDT · by Tolerance Sucks Rocks · 32 replies
    Nolan Chart ^ | July 23, 2011 | James Luko (centrist)
    The media is hyping and harping on the issue that the Federal Reserve will resort to PRINTING more money to feed another round of quantitative easing. This is a wholly incorrect fact. The Department of Treasury prints our "paper currency NOT the Federal Reserve. Quantitative easing is the Federal Reserve increasing bank reserves- thereby creating new money electronically- but, for a stated purpose of stimulating the economy and NOT for paying government debt. This is a salient point that the media mixes up, assuming and misinforming the public that QE is paying for increased government debts. QE serves a fundamental...
  • Cornyn: Obama Bypassing Congress on Debt Limit is 'Crazy Talk'

    07/03/2011 2:33:35 PM PDT · by ColdOne · 36 replies ^ | July 03, 2011 |
    Sen. John Cornyn warned President Obama on Sunday to not even consider interpreting the Constitution's Fourteenth Amendment to bypass Congress and raise the debt limit without its approval.
  • America's Economy Of Errors

    06/29/2011 4:04:46 PM PDT · by Barry Secrest
    Conservative Refocus ^ | 06/29/2011 | Barry Secrest
    It has always been the case in history, when a particular event occurs that is significant, no one can actually know at the time the portent of the event in question. For instance, who could have known that the tyrannical excesses of King George during the Americas' colonization would eventually lead to a Revolution that would define free societies for the next two and a half centuries? Even better, who could have known that this same revolt against Great Britain would ultimately lead to the salvation of a latter day United Kingdom, if not the world, during both Germany and...
  • The final ticks of Americas bankruptcy bomb

    06/24/2011 12:43:42 PM PDT · by Clintonfatigued · 13 replies
    The Washingtin Times ^ | June 23, 2011 | Peter Ferrara
    The failures of federal, state and local officials of both major parties - over many years - have primed a ticking bankruptcy bomb for the United States that will explode the American Dream if we dont disarm it. But its not too late to reverse course and avert the coming national bankruptcy. That will require fundamental structural reforms of all levels of government and our most politically sensitive entitlement programs. If we do this right, thoroughly modernized entitlements will serve the poor and most vulnerable among us far better, and a new economic boom will restore Americas traditional, world-leading prosperity....
  • The Insolvency Index

    06/20/2011 6:11:06 AM PDT · by randita · 6 replies
    American Thinker ^ | 6/20/11 | Steve McCann
    June 20, 2011The Insolvency Index By Steve McCann In the early 1970's economist Arthur Okun developed the Misery Index. This was intended to measure or put in some context the real-world suffering of the individual during an economic downturn. It was also simple in its nature, as the index was a combination of the inflation rate and the unemployment rate; as such it was easy to understand and relate to.Today the issue is not just the suffering of individual citizens in countries throughout the world (and the United States) but the financial survival of these nations. Never before in history...
  • China Has Divested 97 Percent of Its Holdings in U.S. Treasury Bills

    06/04/2011 7:07:59 AM PDT · by Clintonfatigued · 56 replies
    CNS News ^ | June 3, 2011 | Terence P. Jeffrey
    China has dropped 97 percent of its holdings in U.S. Treasury bills, decreasing its ownership of the short-term U.S. government securities from a peak of $210.4 billion in May 2009 to $5.69 billion in March 2011, the most recent month reported by the U.S. Treasury. Treasury bills are securities that mature in one year or less that are sold by the U.S. Treasury Department to fund the nations debt. Mainland Chinese holdings of U.S. Treasury bills are reported in column 9 of the Treasury report linked here. Until October, the Chinese were generally making up for their decreasing holdings in...