U.S. Debt Tops $14. 3 TRILLION for first time

Discussion in 'Economy' started by Stephanie, Apr 19, 2011.

  1. Stephanie
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    Stephanie Diamond Member Supporting Member

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    hope and change baby

    SNIP:

    (CNSNews.com) - The national debt has passed another historical milestone, topping $14.3 trillion for the first time ever, according to data released by the U.S. Treasury late Monday afternoon.

    When the Treasury opened for business on Friday, April 15, according to the Treasury’s Bureau of the Public Debt, the national debt stood at $14.27 trillion ($14,270,792,119,184.89). By the close of business Friday, the debt had climbed to $14.31 trillion ($14,305,336,580,992.11), an increase of $34.54 billion ($34,544,461,807.22).

    Friday’s $34.54-billion jump in the national debt almost equaled the $38.5 billion the Republican House leadership said would be cut from spending for the remainder of this fiscal year by the continuing resolution that the Congress passed on Thursday and President Obama signed Friday.

    read the rest here.
    U.S. Debt Tops $14.3 Trillion for First Time | CNSnews.com
     
  2. editec
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    editec Mr. Forgot-it-All

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    Yeah.

    But the whole "first time" thing is sorta silly.

    The national debt has reached zeniths of debt "for the first time" frequently over the last half century.

    Just about every annual national debt is a record breaker.

    Not that this debt isn't obscene, but the fact that we're breaking a record now is so common as not to be significant.
     
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  3. LilOlLady
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    LilOlLady Gold Member

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    You do realize that $5 trillion of that belong to Bush. What we a paying for now is the effect of Bush out of control spending and borrowing. The fall out of 8 years of Bush. IF something is broken, it takes money to fix it. Tax cuts created jobs lose and lost revenue and still is. We have the power to rase taxes and cut spending and we should do both if we are any kind of serious about fixing the economy. This one want tax cuts and other want tax raises, spending cut and not spending cut. we have to come to a happy media and do both to some extent that it does not hurt and it can be done. but we all have to give. I have given and i am a senior a fix income. No COLA for two years, my home healthcare provider ceased, no energy assistance, no rent rebate, higher medicare and prescription cost, etc. I have done my share and GOP want more. Any more and I will be in the po house. Have to cut my meds in half. cannot get a new power chair. I have MS and need power chair to remain independent. If I cannot get it I will have to go into a rest home and cost will be much more than a healthcare helper and a damn power chair. That is the result of spending cut to the poor, etc.
     
  4. waltky
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    waltky Wise ol' monkey Supporting Member

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    Mebbe Washington should lissen up...
    :confused:
    The 5 things to avoid if you’re in debt
    4/29/2011 - The 5 Dumbest Things You Can Do if You Have too Much Debt
     
  5. uscitizen
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    uscitizen Senior Member

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    Yepper, my thought as well.
    The US debt topped 1 trillion for the first time under Reagan.
     
  6. PLYMCO_PILGRIM
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    PLYMCO_PILGRIM Gold Member

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    And bush and obama have made it 15x larger.

    The whole "first time" thing is a great way to wake up those people who are dumb enough to still be asleep about the grave nature of our level of debt and how much worse our budget deficit will make it.
     
  7. uscitizen
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    uscitizen Senior Member

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    You mean the ones who did not care as long as it was under a republicans watch?

    I have always seen the debt as a major issue with long term impacts.
    But Reagan proved the debt did not matter I suppose.
     
  8. PLYMCO_PILGRIM
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    PLYMCO_PILGRIM Gold Member

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    No I mean those who don't care no matter who's watch, those who don't care since its under obama's watch, and those who didn't care under bush's watch.
     
  9. expat_panama
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    expat_panama Silver Member

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    Aint' it great, no matter who's president the opposition can cry that the clown in charge made the debt bigger, no matter if we have full employment, world peace, and free beer. Politics, ya can't beat it!

    In real life debt matters in the way it compares to income and assets. Here's debt as % gdp:
    [​IMG]
    --and no, W. Bush's debt was not as bad as Clinton's but not as good as Regean's, but Obama's debt is like WWII all over again.
     
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  10. tigerbob
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    tigerbob Increasingly jaded.

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    I was thinking the same thing. Hit $14.3 trillion presumably just after hitting $14.2 trillion.
     
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