[Perseverando]

U.S. Debt Clock

$19.957 trillion and counting.

[Liz]

JUST A SMALL CLUE (smirk):

Pres Trump needs to suggest AG Sessions rite an inquiry letter to the US Dept of the Treasury and be sure to ask what RAHM AND Obama were doing in the US Treasury after Obama got elected. There HAS to be a paper trail. One can get awfully rich awfully fast knowing the Fed's Treasury moves in advance. Read on.

"Don't worry, Mr President, the Dept of the Treasury is under your control."

=============================================

ONCE UPON A TIME, IN THE PRIVILIGED ENCLAVES OF
OUR NATION'S CAPITAL, RHAM EMANUEL HELD TWO JOBS Soon as they occupied the WH, Obama and the Chicago con artists (a) took control of the US Census; (b) Obama placed his COS Rahm Emanuel in control of the US Dept of the Treasury (oversees the IRS).

PAUSE TO REFLECT First-term Obama had tight control of Treasury; Obama calculatedly placed his then-COS Rahm Emanuel in a dual role.......in the WH and at Treasury. Obama had a stranglehold on Treasury via COS Rahm Emanuel's dual role

==========================================

THE SMOKING GUN---WSJ REPORT--On Jan 20, 2009 Timothy Geithner was appointed Obama's Secy of the Treasury. But within three weeks, the Obama White House tightened its grip on Treasury. Obama put his COS, Rahm Emanuel, in charge of Treasury---Rahm Emanuel's dual role was an unusual move.

When he got to Treasury, WH COS Rahm Emanuel was so involved in the inner workings that the phrase "Rahm wants it" had become an unofficial mantra among subservient govt staffers, prostrate in obeisance, scurrying to accede to Rahm's wishes, according to Treasury government officials. Reported by WSJ / 05/31/09

More here: http://online.wsj.com/article/SB124113406528875137.html

cont

[Reno89519]

Yep, President-elect Trump inherits an incredible debt from Bush Jr. and Obama. He should call out Congress with list of immediate cuts to get this under control: repeal/replace Obamacare, defund Planned Parenthood, defund PBS and Arts, DEFUND SANCTUARY CITIES, etc. Concrete steps to reign in the budget and debt. Despite this, I’m sure he’ll be faced with increasing the debt limit (maybe. how about an audit of the fed?).

[Rennes Templar]

We were suckered by that fake conservative, Dubya. But, at the time, we thought he was the real deal.

[Wolfie]

Partisans will squabble about who added what to the mounting debt, but the reality is that none of that really matters. Both partied have kicked the can down the road for the last 40 years, and that has culminated in the current situation:

I'll go out on a limb and predict more of the same until the collapse.

[BitWielder1]

And nothing to show for it makes it even worse.
How can such an amount of money just disappear? Where did it go?
Any chance of clawing some of it back?

[xzins]

Looking at it another way, let’s say that you were a business that was 20 million in debt. Your gross revenue annually is only 17 million and your gross profit is 3.5 million.

Your costs before net profit are:

To service your debt you have to pay 600,000 annually in interest to meet a 3% interest rate.

4 million goes to operational and employee expenses.

In short, you have zero profit, you have to borrow 1 million this year to keep going.

Next year your debt load is 21 million and the interest (pray the interest rate doesn’t rise) is 630,000.

How long will the bank let you keep doing this?

What do you need to do to turn it around?

[C210N]

Forget the ridiculous notion that the election mechanism is a national security issue and critical infrastructure, and switch that focus to the national debt being the problem.

[The_Republic_Of_Maine]

bump to keep

[nobamanomore]

And the debt will be important now that Obama is gone, and it’ll all be the Republican’s fault!

[Alberta's Child]

It's easy to blame our politicians for this, but this isn't a political problem -- it's a cultural one.

A massive Federal debt is the natural consequence of a culture where people expect the government to pay their bills for them. When you run out of other people's money, you have to fabricate debt out of thin air and pass those costs on to future generations that aren't even alive yet.

[Iron Munro]