Posted on 08/05/2014 7:38:49 AM PDT by SeekAndFind
To the surprise of absolutely no one, the nation’s debt has skyrocketed during President Barack Obama’s tenure. In a little over five and a half years, the Obama administration has added more than $7 trillion to the total, a number that represents more debt accumulation than the administrations of George Washington through Bill Clinton combined. At the close of business on July 31, the nation’s debt was $17.6 trillion, with $7.06 trillion of it accumulated since Obama was inaugurated in 2009.
CNS News offers some gut-wrenching perspective regarding the numbers:
As of June, there were 115,097,000 households in the United States, according to the U.S. Census Bureau. The $17,687,136,723,410.59 in debt the federal government had accumulated as of the end of July equaled $153,671.57 per household.
The $7,060,259,674,497.51 in new debt that the federal government has taken on during Obama’s presidency equals $61,341.82 per household.
The median household income in the United States in 2012 (the latest year estimated) was $51,017. Thus, President Obama has increased the federal debt by more than the typical household’s annual income.
There is bitter irony and hypocrisy attached to these numbers. “The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents –number 43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back– $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic,” said presidential candidate Barack Obama, at a 2008 campaign event in Fargo, ND.
(Excerpt) Read more at frontpagemag.com ...
It’s only unpatriotic if a Republican president presides over increases in the debt. Liberals are allowed to run up the debt, because they have liberal compassion and all that.
Plus, Obama inherited all these problems, so nothing is ever his fault. He’s been president almost six years, but nothing can be blamed on his policies, or his neglect of addressing a problem. Because he’s liberal, he is not subject to the same criticism as others are. That’s just how it is.
When does blame equal accountability?
As long as the Republican Leaders in the US House refuse to hold Obama accountable and punish Obama, Obama will continue to cash in AND SPEND the endless supply of blank checks that Speaker Boehner freely gives Obama.
As long as Speaker Boehner refuses to punish Obama by appointing a Special Prosecutor, Obama will continue his very successful campaign to “Fundamentally Transform the United States of America.”
Boehner has cowardly chosen to shirk his Constitutional Duty by transferring his unique authority to the Courts, who then will quickly reject it due to ruling on it would be a Constitutional Violation of Separation of Powers.
Boehner may continue to make yet another do-nothing, fiery speech about “we must make sure that this never happens again,” to which the grateful members of the MUSLIM DEMOCRAT BROTHERHOOD Party, such as Reid, Holder; Lerner, and Jarrett will always say:
“OBAMA ACKBAR!”
The last national figure to warn of financial, and subsequent social Armageddon was Vice Presidential Candidate Paul Ryan.
IIRC, part of his stump speech dealt with how the window to take preventative and necessarily harsh measures was closing, and closing fast.
Didn’t he warn in 2012 that we had only a couple years in which to realistically deal with the growing monetary crisis?
If I handled MY OWN money the way this government handles revenue, I’d be living in a cardboard box under a bridge.
Nothing to show for what he blew threw either, you can’t point to anything an say it’s there.
The money has vanished, and if you ask about it, your a racist
Until the $ is as worthless as litter on the ground after a Democrat campaign stop............
You would be in prison.
If you followed FedGov's example you'd be living large, running up credit card debt, and cashing bad checks. ;-)
Once that ball got rolling, it was tough to reverse course, and Obama's policies are just the opposite of what needed to be done. Ron Paul would've actually been better on reining in the economy and foreign adventures, if he had the political skill to govern. He might've gained traction if his supporters hadn't so condescending and arrogant.
We're a long way down the slippery slope now. I'm almost ready to wish we could throw a real Hail Mary to try to save things....that would be Donald Trump for President.
Right... THEN I’d be under the bridge!
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