A Cool 12 Trillion

For Advertising Info, Write.
rwnews@blogads.com

Premium Left blogad

Left Blog Ad

Permalinks

A Cool 12 Trillion

Written By : Melissa Clouthier

Remember the era of fiscal responsibility that Barack Obama was going to usher in? From CBS News:

Technically, the debt hit the new high yesterday, but it was posted on the Treasury Department website just after 3:00 p.m. ET today. The exact calculation of the debt is a 16-digit tongue-twister and red-ink tsunami: $12,031,299,186,290.07

This latest milestone in the ever-rising journey of the National Debt comes less than eight months after it hit $11 trillion for the first time. The latest high-point is not unexpected, considering the federal deficit for the just-ended 2009 fiscal year hit an all-time high at $1.42-trillion – more than triple the previous year’s record high.

Much of the increase in the deficit and debt is attributed to government spending outpacing revenue – both exacerbated by the recession and the government response to it – including hundreds of billions in bailouts and stimulus spending and tax cuts along with decreased tax revenues due to rising unemployment.

And now, President Obama is talking about “getting the deficit under control” even as he’s pushing for a vast new entitlement program. Health care will drive up the debt [and be a disaster to boot] and deficit and President Obama has the nerve about cutting down government debt. Even the Chinese see the folly and they’re communist.

Do you see a way for President Obama to get out of this self-created mess? He created the stimulus to pay off constituencies which created mountains of debt. And he promised the middle class he wouldn’t raise their taxes. And he wants to pass health care to appease the hard left socialists. So many promises.

Meanwhile, the interest on this money accrues and the dollar loses value. Tax revenues will continue to decline because of all the people out of work. It’s only the press that’s keeping President Obama’s hope and change alive. How long can that last?

Mike_M

How fitting that Obama was in China as it happened. I wonder how eager they are to finance Obama’s health care plan while Chinese workers are dying from mercury and lead exposure producing all the toxic crap we buy from them?

Obama is probably pitching Bag O’ Glass as a great Christmastime toy export for China.
abcxyz

One thing of note: Not much but ALL of the increase in deficit is due to government spending more than it takes in as revenue.

Someone please correct me if I am wrong.
Huron_Serenity

The majority of the blame falls on the Republicans during the time that they were in power from 2001-2008.
http://PatriotPost.US bthewolf

The majority of the blame falls on the Republicans during the time that they were in power from 2001-2008.
Posted by Huron_Serenity
2009-11-18 13:02:49

No the majority of our debt has occurred since the Democrats took control of Congress in 2006. In 2009 alone with Obambi’s help the debt has risen over a trillion dollars. Between 2000 and 2003 the debt DROPPED. The debt passed 7 trillion in January 2005, it passed 8 trillion October 2008. The debt just passed 12 trillion, that’s <b<50% increase in just over 2 years So not only are you wrong but utterly and completely wrong as in EPIC FAIL.
Mike_M

“One thing of note: Not much but ALL of the increase in deficit is due to government spending more than it takes in as revenue. Someone please correct me if I am wrong.”

Only one way to go into debt and that’s spending. Believe it or not, not even the government or the liberals can find a way to go into debt without it.

Of course, liberals have their own unique brand of idiocy in thinking that they can spend their way to revenue growth. If you tell your wife that you’re going to become rich by maxing out your credit cards, she’ll throw you out of the house. When Obama says the same thing he’s hailed as an intellectual genius by other liberals.
http://www.superdickery.com mightysamurai

The majority of the blame falls on the Republicans during the time that they were in power from 2001-2008.

Bullcrap. The Spendulus cost more than the entire War in Iraq. This is completely on the left’s head.
http://networdblog.blogspot.com/ Christopher_Taylor

I agree that Republicans are responsible for part of the debt, but the fact is, since Democrats took congress in 2006, spending has gone up by insanely gigantic amounts and the deficit has become ten times bigger than when people were panicking about it in the 80s.

Now, suddenly, its no big deal to the left.
TheRightNut

Maybe when the dollar fails, and I mean hyper inflation, people will wake up an see liberal ideas fail. They cause more harm then good.
http://TheNixonTape.Blogspot.Com Dick_Nixon

The majority of the blame falls on the Republicans during the time that they were in power from 2001-2008.

Posted by Huron_Serenity
2009-11-18 13:02:49

this is a complete lie. Thanks for playing.
Huron_Serenity

this is a complete lie. Thanks for playing.

Posted by Dick_Nixon
2009-11-18 23:23:38

You’re a complete idiot. Thanks for proving me right.
http://PatriotPost.US bthewolf

You’re a complete idiot. Thanks for proving me right.
Posted by Huron_Serenity
2009-11-19 07:51:30

This coming from someone who has NEVER been right!! Welcome to the delusional world of Huron_Stupidity.