Thursday, September 9, 2010

Obama Added More to National Debt in First 19 Months Than All Presidents

In the first 19 months of the Obama administration, the federal debt held by the public increased by $2.5260 trillion, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan.


The U.S. Treasury Department divides the federal debt into two categories. One is “debt held by the public,” which includes U.S. government securities owned by individuals, corporations, state or local governments, foreign governments and other entities outside the federal government itself. The other is “intragovernmental” debt, which includes I.O.U.s the federal government gives to itself when, for example, the Treasury borrows money out of the Social Security “trust fund” to pay for expenses other than Social Security.
More Here..

24 comments:

  1. Well today mark the beginning to the real end. By Christmas day, many of you will be think back to this day. Get ready for Dec 25 2010. Do buy crap, just the things you need. Remember this date

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  2. That is such a BS article. Bush spent more than anyone in history. Not one of these assholes complained about Bush's $3 TRILLION DOLLAR war. $1 TRILLION DOLLAR prescription drug program, $440 BILLION DOLLAR low income home owner program. Forcing lenders to give loans to people who could not even come up with a down payment.

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  3. It was clear 20 years ago that our economy was going to explode, and it was clear that whomever is in office at the moment will shoulder all the blame.

    Clearly Obama magically sent his evil forces back in time to begin gutting the economy decades ago. It IS all his fault! Obama the Magical Negro!

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  4. 2:06 I know its tough to wrap your head around it but the un-audited figures are in black and white:
    When President Barack Obama took the oath of office on Jan. 20, 2009, the total federal debt held by the public stood at 6.3073 trillion, according to the Bureau of the Public Debt, a division of the U.S. Treasury Department.

    What is it now?

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  5. 3:33,

    It is pretty hopeless to even speak facts to these emotionally unstable Liberals. The lack of emotional stability brings about a dimming of their intellects.

    People who still can't comprehend Obama is deliberately ripping apart the country are vacuous. Clinton was perverse/corrupt, W Bush was a do nothing, Obama is a destroyer.

    The nation in general was destined to fall apart long ago. The material obsession, drugs, ignorance spread through Howard Stern radio types or Jerry Springer television, loss of family bonding, polarities between parties that propagated this civil dissonance, etc.

    Obama is just the inconvenience we've been cursed with at this frantic time. America is more vulnerable than ever before and he is fixated on putting her in a coffin.

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  6. Gee, I thought it was the Republicans who are loony tunes. We've got Republican candidates who want to do away with Social Security and Medicare and who think that if you need medical treatment you should offer the doctor a chicken.

    All politicians are corrupt and incompetent, some are just more incompetent than others. But to watch the Republicans scream about the Marxist Communist Kenyan is laughable--it was mostly the Republicans who got rid of the regulations that allowed the banks to fuck us over. It was Bush's crony appointees in government agencies that looked the other way for BP to give us the greatest environmental disaster in our history.

    What I fault Obama for is continuing the Shrub's destruction. We're spending $2 billion a week in Afghanistan while our own people go homeless. Things won't change unless we take to the street in violent protest.

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  7. sharonsj,well said.

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  8. All Yo Bama lovers

    Dig This bro'

    Todays exit poll on Ohio voters AFTER the annointed one speaks there.

    W Bush would beat him by 7% !

    Ha !

    That is the ultimate definition of a fucking loser right there !

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  9. 2:06 you gotta lay off the msnbc dude! Guess you aint figured out it makes ya stupid? Your statements are so wrong I don't know where to start. #1 the cost of war to date for ten years is around 790 billion. The drug program was wanted and needed by seniors.The catch was they had to use generic drugs saving medicare money in the long run. And the low income home loan program was forced by the goddamn democrats. Google it for christs sake! Bush fought it for years but bawny fwanks and chris dodd headed him off anytime he tried to investigate. And by the way your man oboma was pushing the program for houses for dirtbags also. The truth is out there you just have to open your eyes! Google "timeline for the housing collapse" I think if not rant back and I will find you a link.

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  10. Hey 610 Moron Bro, it was bush's everyone owns a home program, that ruined the housing market, and his two unwinnable wars that bankrupted this country. Obama did not start either of those loser programs. Also whose loser numbers did you use for the 7%? Faux News, Lol loser!

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  11. 742 you have to stop drinking the faux news kool aid, it is killing your brain idiot! Bush's making homes affordable caused the housing meltdown and he did nothing right ever. If he cared about this country, he would have closed the borders after 911, but he did not, because he crapped on this country!

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  12. I do not know why people argue about who is worse Bush or Obama. They are both bad and probably working together on the same side. Did either one of them actually run the country? NO ... the Federal Reserve runs the country. IF the President ran the country then he could audit the Federal Reserve or even better start the USA printing it's own money instead of a Provate Corporation called the Federal Reserve the power to print money and charge compound interest creating the (national debt).

    When you are at war the first thing you must know is WHO THE ENEMY IS and every American needs to know their enemy is the Federal Reserve.

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  13. http://www.youtube.com/watch?v=cMnSp4qEXNM

    Watch and learn! 2:07 8:27 Ignorance is not bliss.

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  14. 8:39 so they warned about it and did nothing? Goes to show you how stupid they really are. They knew they were leaving so they spouted about what was coming. Nice job.

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  15. 839 more faux news propaganda, I dont believe a word of it, faux news has never told the truth, goebbels would be proud of faux news.

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  16. The truth is , America is already a third world country, but owing to the Dollar Hegemony in world trade and finance its people had been able to live a First World lifestyle in a Ponzi economy on foreign credit.

    America after de-industrializing itself , had become an unproductive of real wealth , parasite services economy,a consumer driven shopping mall economy ,a consumer of foreign credit making a profit on the sales of cheap labor Third World produced commodities. Its working people now mainly exchanging services with each other
    .
    As that Ponzi has now imploded the economy is only ticking , propped up, after a financial coup, with a government that socialized the losses of the finance sector and passed them new capital free . By resorting to a printing press to buy up the dud mortgage and other bonds ,to stimulate the economy by providing new opportunities for bondholders to invest in Trillions more government debt. Pre Crises the government had already resorted to the printing press with Keynesian militarism to pay for its wars on behalf of business and US bondholders..
    Thus, as well an insolvant finance sector the governments Treasury bond markets are themselves a Ponzi . Falling s falling tax revenues mean that it may not be able to make its promised dividend payments on the national debt. All this money printing past and present has devalued the dollar in comparison to other countries currencies and there is a fear that the remaining dollar value will be inflated away Zimbabwe /Weimar style.
    Stockmarket index values have fallen from 14.000 and are being manipulated to hold value at around 10,000 points by the banksters, using their government provided capital to buy each others shares.
    Ordinary shareholders like those forced to invest in retirement pension funds ,401 plans and the like scams , have seen the real world value of their savings disappear in smoke as fictional value. Those that have speculated in houses are watching the values of their housing either crash or barely maintain their old price levels. Millions of homeowners are ‘underwater” owing more on their houses than their mortgages debts. They can no longer use the house as an ATM for borrowing more money against its annually increasing asset value to pay off their credit card debts. Millions are attempting to find ways of escaping Debt Peonage by walking away from the debts. Millions of students have financed their education by huge and necessary student loans, but now they find the expected jobs are now not available , that the student loans have turned them too ,into unemployed Dept Peons of capital.
    Thus personal and Muni credit supply for is now hard to get and it is hard for people to make their interest payments on past debts let alone pay off the principle,
    As the consumer driven shopping mall economy can no longer function in the old way,existing shares and pension and property values can be expected to fall in value as assets, perhaps to fall in value by another
    50 % ?
    The panicked Banksters and bondholders interests ,now fully in control of treasury demand that their lobbied and paid for President government Congressment and Senate ,serve their interest and practice “austerity” law.To pass budgets for cuts in in food stamps and for unemployment benefits so that the government has money for more bailout “stimulus” and for the bondholders that have invested in Treasury bonds to finance its past wars and other deficit spending are paid out in full value and so the wars for empire can continue.
    In this way ,now that the dollar hegemony and foreign debt supply financing the old lifestyles has dried up, the level of working peoples incomes in a America will fast become Third World incomes to match the reality of an unproductive of real wealth failed capitalist Ponzi economy.

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  17. Jesus Christ what is wrong with you people? The Bush admin warned of trouble in fanni/freddi in 2001. They wanted to investigate. Franks,dodd,schumer blocked the investigations. I hope to hell the people in this country wake up and are just a little bit educated before the upcoming elections. It's the last chance we have. From what I understand the politicians responsible for this mess are'nt even vulnerable this fall. Except for the theif chris dodd. Makes me sick when you stupid bastards vote them right back in.

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  18. if they vote this losers in again they are crazy, this loser are sessions, hatch, mccain, brownback, boehner,cornyn, alexander, kyl, brown, bunning, coburn, chambliss, demint, ensign, graham, gregg, inhofe,mcoonnel, shelby, vitter, this is the scum to vote out NOW!!!!!!ALSO LIEBERMAN!!!!

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  19. I don't think the president can actually do anything anyway. Does anybody seriously think the president or the senate can say no to whatever corporate America and the banks want? They run this show, and they'll run it right into the ground if they damn well want to.

    Obama is actually a smart guy, and so was Bush. Despite all the jokes these men are far more intelligent than the majority of the population. They were smart enough to work their way into that position, that is no easy feat.

    We all know how to fix this mess. You could start the healing tomorrow and have it fixed up by Christmas if you wanted to. But to do so would kill the profits, especially short term, of the greedy banksters and corporations. So it would definitely not happen.

    The only things that happen are what the elites will allow to happen. Even that shitty health care bill, it's nothing the elites don't want. On the one hand they are denouncing it as socialism and complaining about how it will ruin the field, on the other they are salivating at the record profits they will get. That bill has NOTHING the insurance companies didn't want, they wrote the damn thing. All it will do is benefit them. It will make the already rich even richer. It certainly won't hurt them any, which is what they're pretending.

    But that's about the best Obama can do because any serious attempts at financial reform will crush him, and he knows it. If he or anyone else suggest a bill to stop outsourcing tomorrow or closes overseas tax loopholes, he will be removed from office immediately and most likely killed long before the general public gets wind of it.

    Ron Paul and Ross Perot saw the problems coming and wanted to do something, and the media nearly destroyed both men until they were no longer any threat whatsoever.

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  20. The American Republic will endure, until politicians realize they can
    bribe the people with their own money.
    -- Alexis de Tocqueville

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  21. In 2002, Vice-President Dick Cheney and the Bush administration’s economic team met to discuss a second round of tax cuts, which would follow Bush’s 2001 cuts. At the meeting, “then-Treasury Secretary Paul H. O’Neill pleaded that the government — already running a $158 billion deficit — was careening toward a fiscal crisis.” Cheney replied by saying that “deficits don’t matter.”

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  22. If you can with out throwing up maddamerican watch till around three minutes into this great speech where he decides it is a good idea to make the down payments for those who can't afford the down payments. ... with taxpayer money.

    http://www.youtube.com/watch?v=kNqQx7sjoS8

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  23. ARROYO GRANDE, Calif. (MarketWatch) -- "How my G.O.P. destroyed the U.S. economy." Yes, that is exactly what David Stockman, President Ronald Reagan's director of the Office of Management and Budget, wrote in a recent New York Times op-ed piece, "Four Deformations of the Apocalypse."

    Get it? Not "destroying." The GOP has already "destroyed" the U.S. economy, setting up an "American Apocalypse."
    Reagan Republican: the GOP should file for bankruptcy
    Stockman rushes into the ring swinging like a boxer: "If there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing. The nation's public debt ... will soon reach $18 trillion." It screams "out for austerity and sacrifice." But instead, the GOP insists "that the nation's wealthiest taxpayers be spared even a three-percentage-point rate increase."

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  24. What a bunch of crap. BUSH spent way more. Notice they stop couting at Reagan. Typical Republican propaganda piece. The uneducated republicans think the rich will save them.

    Bush's wars bankcrupted us. Bush had a bailout and a stinulus. But this author is only going into the 1980s. What garbage.

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