Obama Leaves the Country with 20 Trillion Debt Due to His Borrowing Strategy

IWB ^ | Thinker

[davikkm]

As the Obama administration comes to a close, the administration leaves the US with the highest national debt the country has ever seen, approaching 20 trillion dollars. Richard Wolff, professor of economics at The New School, says that following the bailout in 2008, the government did not want to raise taxes to match the costs of the stimulus package that would be used to kick-start the economy. Instead, the government borrowed the money from foreign governments such as China and Japan. Wolff states that the process of receiving foreign loans is only a short term solution and does not eliminate the country’s economic problems as it only further drives the country into debt. RT’s Manilla Chan reports.

[PGalt]

“Ok, here’s the next question... how much has our debt grown since Obama left the White House?”

FYI...all you have to do is scroll through and do the calculations (last week I had those numbers, but I’ve misplaced them).

https://treasurydirect.gov/govt/reports/pd/debttothepenny.htm

You’re welcome, SeekAndFind

[SeekAndFind]

Thanks for the link. It looks like the debt growth is JUST AS BAD under Trump as it was under Obama. No spending control.

[Liz]

Now's a good time for Obama to amend his will to leave
his eyeballs to science. The jaundiced, cockeyed way
he views the world demands science take a looksee.

Maybe Obama's got a rare eyeball-eating disease.
Maybe something he caught on disease-ridden Chicago
streets as a community organizer....maybe gonorrhea of
the eye sockets?

[GailA]

BTT