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Sorry Mr. President, We DO Have A Debt Problem (Taxpayer Share Of Debt Is $147,449 And Climbing)
Confounded Interest ^ | 03/16/2013 | Anthony B. Sanders

Posted on 03/16/2013 8:42:57 AM PDT by whitedog57

Recently, President Obama announced that American doesn’t have a debt problem. Actually, he said that there is no debt CRISIS. That was repeated by numerous Democrats.

At this point, there is no debt crisis. Not yet anyway. But there IS a debt problem.

Let’s start with government spending. As a percentage of GDP, government expenditures have been rising starting in 2007, but started to slow after the Republicans reclaimed The House in 2011.

But the Federal government is spending like the proverbial drunken sailor in port (with apologies to all sailors). As in a proposed $42,000 per household.

But in terms of debt to GDP, we most certainly have a debt problem. Particularly starting in 2007 when the Democrats regained both Congressional bodies. Debt to GDP in Q1 2007 was 64%. At the end of 2012, it was 104%.

All this with declining wages and salaries as a percentage of GDP.

Of course, compared to Ireland, the UK and Japan (along with Portugal and Greece), we look positively frugal!

But with the Democrats ludicrous budget introduced by Senator Patty Murray (D-WA), we are getting into worse and worse shape fiscally.

Congratulations students! In addition to your student debts, your share of the national debt is $147,449 and your share of unfunded liabilities (Social Security, Medicare, prescription drugs) is $1,087,451.

Here is Senator Murray repeating Oliver Twist’s immortal line: “Please sir, I want some more (gruel)” to the Chinese and … The Fed.

Here is Senator Murray’s role model, Oliver Twist.

Wow, they must have been separated at birth!

TOPICS: Business/Economy; Government; Politics
KEYWORDS: budget; debt; obama; spending
And SPENDING problem!!!!!
1 posted on 03/16/2013 8:42:57 AM PDT by whitedog57
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To: whitedog57
For the past several decades, so-called "progressives" who are, in fact, regressive in their ideology and policies, censored America's founding ideas from the nation's textbooks, leaving a largely uninformed citizenry on matters critical to liberty.

Only in such an America could voters buy into the philosophy being advanced by the President and other ideologues.

A true "intellectual" of the founding period stated the question succinctly:

"To preserve [the] independence [of the people,] we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude. If we run into such debts as that we must be taxed in our meat and in our drink, in our necessaries and our comforts, in our labors and our amusements, for our callings and our creeds, as the people of England are, our people, like them, must come to labor sixteen hours in the twenty-four, give the earnings of fifteen of these to the government for their debts and daily expenses, and the sixteenth being insufficient to afford us bread, we must live, as they now do, on oatmeal and potatoes, have no time to think, no means of calling the mismanagers to account, but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-sufferers." --Thomas Jefferson to Samuel Kercheval, 1816. ME 15:39

"I deem [this one of] the essential principles of our government and consequently [one] which ought to shape its administration:... The honest payment of our debts and sacred preservation of the public faith." --Thomas Jefferson: 1st Inaugural, 1801. ME 3:322

"I sincerely believe... that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale." --Thomas Jefferson to John Taylor, 1816. ME 15:23

"[With the decline of society] begins, indeed, the bellum omnium in omnia [war of all against all], which some philosophers observing to be so general in this world, have mistaken it for the natural, instead of the abusive state of man. And the fore horse of this frightful team is public debt. Taxation follows that, and in its train wretchedness and oppression." --Thomas Jefferson to Samuel Kercheval, 1816. ME 15:40

2 posted on 03/16/2013 8:52:28 AM PDT by loveliberty2
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To: All
JUST A REMINDER---THE DIMOCRATS HATE THE RICH---but don't mind wearing high fashion and diamonds, vacaying at the rich's fave resorts, spending and spending and spending the taxpayers' dime ON THEMSELVES.


NRO tallied up the total for the Obamas' cost of living in the White House: $1.4 billion per year: Air Force One ($181,757 per hour), executive chef ($100,000 per year), three full-time White House calligraphers ($ 277,050 per year for the trio), chief of staff to the president’s dog ($102,000 per year), Ohaha's royal motorcade ($2.2 million).


The current annual cost of the White House — just in household expenses, not including US policy operations for which the WH exists--administered by some 900 policy staff recruited by Ohaha) — is $1.4 billion:

Annually, Ohaha vacations cost $20 million (the low estimate for one vacay Ohaha took to Hawaii while Moochelle was skiing Aspen) was $4 million, but the true cost is probably five times that); the first family’s yearly health-care costs are $7 million; more than $6 million is spent on the White House grounds each year. Transporting the president cost $346 million last year.

But as Mrs O whined, "America is basically a downright mean sort of plac," ...... so kid's WH tours will just have to go what with those Repubs forcing sequestration cutbacks on the US.

"Toleranr and compassionate" Democrat House Minority Leader Nancy Pelosi recently told Chris Wallace on Fox News, "It is almost a false argument to say that we have a spending problem (WRT sequestration)."
(TRANSLATION "And besides, we need trillions to subsidize all our "new citizens" who will vote---and make me Majority Leader, again---not to mention the billions in foreign aid we plan to give to all the countries on the other side of the border.")

MAKING THE DEALS IN EXCHANGE FOR VOTES--- L-R--Sen. Robert Menendez , (D-NJ); Dr Salomon Melgen, VOXXI Chman of the Board; Rep Nancy Pelosi (all dolled up in the latest fashion); Francisco J. Sanchez, Under Secy of Commerce for Intl Trade, and Emilio Sanchez, Pres/CEO of VOXXI at the Ntl Assoc of Latino Elected and Appt Officials Gala in DC. (Photo/ Voxxi---Melgen's web site)

Michelle Obama appears on the cover of Vogue and opens up about what she says is her biggest priority -- maintaining a happy and tight-knit family. "Our job is, first and foremost, to make sure our family is whole,"

I'm surprised Mrs O did not wear for the Vogue cover, the pricey diamnod bangles she sported at a DNC fund-raiser last Sept....raised big bucks to keep Mr O in office so he could work for "the poor."

Musta wowed all the "tolerant and compassionate" Dems who hate the rich and support endless govt programs "for the poor."

The Gothic cuff was priced at $15,350 set with 2.17 carats in diamonds and the Quatrefoil bracelet at $11,800 set with 1.73 carats in diamonds. (Excerpt) Read more at


Family togetherness---that's a laugh. They took separate vacays few weeks ago. Been estimated he's spent some 800 hours golfing. All those shots of him on the greens never show the kiddies and wifey in tow. That's togetherness?

While kids were shut outof the WH supposedly due to Secreat Service cutbacks, the O's teen daughter was spotted in NYC the other night---with girlfriends---dining st the pricey Buddakan, scoffing up rock shrimp, edamame dumplings, short ribs, lobster fried rice........replete w/ five Secret Service guards dining nearby, while students her age were denied access to the people's house.


3 posted on 03/16/2013 9:15:01 AM PDT by Liz
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To: whitedog57
But the Federal government is spending like the proverbial drunken sailor in port (with apologies to all sailors).

Major difference! Drunken sailors spend there own money!


4 posted on 03/16/2013 10:07:14 AM PDT by Gandalf_The_Gray (I live in my own little world, I like it 'cuz they know me here.)
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