US debt just reached $16 Trillion! Obama admin spending faster than we can print it!

Discussion in 'Politics' started by Wolfmoon, Sep 4, 2012.

  1. Wolfmoon
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    Wolfmoon U B U & I'll B Me 4 USA!

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    Tuesday, September 4, 2012

    US Debt Clock in real time
    http://www.usdebtclock.org/

    $ 16,000,300,478,187 owed (That’s Trillion)

    U.S. Population: 314,303,065

    Debt per citizen: 50,908.00

    Debt per taxpayer: $140,012

    Since 47% of the nation is on some kind of social service it looks like the working stiff gets to pay the bill.
     
  2. Lakhota
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    Lakhota Diamond Member

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    Why?
     
  3. Moonglow
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    Moonglow Diamond Member

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    another spewer from the sewer.
     
  4. Lakhota
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    Lakhota Diamond Member

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  5. BreezeWood
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    BreezeWood VIP Member Supporting Member

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    it began with Reagan, passed to Newt Gingrich - Contract With America and caped off with the Unfunded Republican Iraqi War and the 07-09 Great Republican Recession.
     
  6. Wolfmoon
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    Wolfmoon U B U & I'll B Me 4 USA!

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    Obama on Pace to Borrow $6.2 Trillion in One Term—More Than All Presidents from George Washington Through Bill Clinton Combined

    http://cnsnews.com/news/article/obama-pace-borrow-62t-one-term-more-all-presidents-washington-through-clinton-combined

    The national debt was $10.6 trillion ($10,626,877,048,913.08) on Jan. 20, 2009, the day Obama was inaugurated. As of the close of business on Jan. 11, 2012, it was $15.2 trillion ($15,236,307,075,631.58.) In Obama’s first 1,087 days in office, the debt increased $4.6 trillion ($4,609,430,026,718.50)—or an increase of $4.24 billion ($4,240,506,004.34) per day.

    At that daily rate, the debt would increase a total of $6.2 trillion ($6,195,379,272,340.74) over the entire 1,461 days of Obama’s four year term.

    .
     
  7. VaYank5150
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    VaYank5150 Gold Member

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    Thank goodness those across the board cuts Obama pushed for are coming soon!
     
  8. Wolfmoon
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    Wolfmoon U B U & I'll B Me 4 USA!

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  9. Wolfmoon
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    Wolfmoon U B U & I'll B Me 4 USA!

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    The government is now spending more than the taxpayer's are paying in. We all know where this road leads.


    If Obama is so great then why doesn't he cut government spending and stop ruining this nation???



    --- "Deficit" vs. "Debt"---


    “Suppose you spend more money this month than your income. This situation is called a "budget deficit". So you borrow (i.e.; use your credit card). The amount you borrowed (and now owe) is called your debt. You have to pay interest on your debt. If next month you spend more than your income, another deficit, you must borrow some more, and you'll still have to pay the interest on your debt (now larger). If you have a deficit every month, you keep borrowing and your debt grows. Soon the interest payment on your loan is bigger than any other item in your budget. Eventually, all you can do is pay the interest payment, and you don't have any money left over for anything else. This situation is known as bankruptcy.”




    SOURCE:
    http://federalbudget.com/

    .
     
    Last edited: Sep 5, 2012
  10. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    How much of that debt is from programs initiated by Obama?
     

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