It’s Official: Obama Has Now Borrowed $3 Trillion

[Capitalist]

(CNS News)- It’s official: The Obama administration has now borrowed $3 trillion, according to the U.S. Treasury Department.
It took from 1776, when the United States became an independent country, until 1990, the year after the Berlin Wall fell signaling victory in the Cold War, for the federal government to accumulate a total of $3 trillion in debt, according to the Treasury Department. It only took from Jan. 20, 2009, the day President Barack Obama was inaugurated, until Oct. 15, 2010, for the Obama administration to add$3 trillion to the federal debt.
The overall debt of the federal government, according to the Treasury Department, is now $13.666 trillion.
Each business day, in the afternoon, the Treasury Department’s Bureau of the Public Debt publishes the exact amount—to the penny–of total federal debt as of the close of the previous business day.
At the close of business on Jan. 20, 2009, according to the bureau, the total debt of the federal government was $10,626,877,048,913.08. On Oct. 15, 2010, the federal government borrowed an additional $58,979,549,154.06, bringing the total federal debt at the close of Friday’s business day to $13,665,926,643,255.96—an increase of $3,039,049,594,342.88 since President Obama’s inauguration.
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[Revere]

Not a goddamned thing to show for it except more misery than ever before.

 

[marksinvirginia]

And, when a "brother" accumulates debt... he has no intention of paying it.

 

[WillowTree]

Sickens me.

 

[saveliberty]

I had no idea his greens fees were that much.

 

[Charles_Main]

Gee us that all only 3 Trillion in less than 2 years. Awe come guys that isn't that much why Bush borrowed a little more than that.............in 8 FUCKING YEARS.

 

[Avatar4321]

i dont get people. Why on earth does anyone think this kind of spending is a good idea?

 

[Charles_Main]

i dont get people. Why on earth does anyone think this kind of spending is a good idea?

They tell themselves He had to do it because of Bush. Which of course is complete BS, But that is what they tell themselves.

 

[saveliberty]

Because some want to believe you can cheat others and the system to prosper.

 

[ConHog]

He should be tried for treason and hung when found guilty

 

[Charles_Main]

He should be tried for treason and hung when found guilty

LOL, Treason? Hanging? Really?

Nah I settle for Turned into a lame duck in 17 days and Sent home in 2 years

 

[The Infidel]

He should be tried for treason and hung when found guilty

X2.....



Hey Con.... let me know if the black heli's come out of the sky



So I can go hide!

But this is more likely:

LOL, Treason? Hanging? Really?

Nah I settle for Turned into a lame duck in 17 days and Sent home in 2 years

 

[Big Black Dog]

Even my great grandkids will be cussing Owe Bama...

 

[Charles_Main]

Even my great grandkids will be cussing Owe Bama...

Nah their Teachers will tell them to Blame Bush

 

[The Infidel]

Even my great grandkids will be cussing Owe Bama...

Nah their Teachers will tell them to Blame Bush

 

[iamwhatiseem]

You guys don't understand...he had to clean up Bush's mess.

 

[rdean]

And, when a "brother" accumulates debt... he has no intention of paying it.

Racist turd. Tell me you're a Confederate Republican.

 

[rdean]

You guys don't understand...he had to clean up Bush's mess.

Yea, 20 months to clean up what Bush did in 8 years.

Every state in the nation has suffered because of the massive trade imbalance with China, which has gained 2.4 million jobs and exported five times more goods to the United States than it has imported from our nation, according to a new report from the Economic Policy Institute.

The trade imbalance, fueled by China's currency manipulation, grew by an average of $26.6 billion every year from 2001-2008, according to the report, "Unfair China Trade Costs," which was released Tuesday.

Report: 2.4 million jobs lost to China

Monday, January 31, 2005 Posted: 0412 GMT (1212 HKT)

WASHINGTON (CNN) -- Nearly $9 billion of money spent on Iraqi reconstruction is unaccounted for because of inefficiencies and bad management, according to a watchdog report published Sunday.

CNN.com - Audit: U.S. lost track of $9 billion in Iraq funds - Jan 30, 2005

You could sit here every day for eight years and find another Bush/Republican scandal from the Bush years, a different one every day. That's how many there are.

And now, the Republicans have gone completely wacko.

 

[thereisnospoon]

i dont get people. Why on earth does anyone think this kind of spending is a good idea?

i once did business for a cutomer who thought rasining taxes was necessary to stimilate the economy. He said that the federal governemnt's job was to control economic activity. I was so amazed at this guy's stupidity, it left me speechless. I thought that it was useless to try countering such irrationality.
Ironically, a similar idea was espoused by a Clinton economic adviser by the name of Laura D'Andrea Tyson. She held the idea that reducing taxes would "take money out of the economy".
How this idea that government is the best steward of OUR money manifests itself is a mystery to me.

 

[thereisnospoon]

Even my great grandkids will be cussing Owe Bama...

Nah their Teachers will tell them to Blame Bush

and all other union thugs.