Obama administration adding $3 million per minute to national debt

The Examiner ^ | 09/02/09 | J Brown

[Jabrown]

An overwhelming majority, if not every single American cannot begin to comprehend the astronomical deficits and debt projections flowing from Washington these days. The Obama Administration and congressional Democrats have done an outstanding job of breaking down uninsured statistics into smaller more understandable numbers such as their 14,000 newly uninsured claim. Yet, when it comes to deficits and the national debt, no one in Washington seems to want the public to understand just how much money they are spending. Politicians talk in dollar amounts that no American, even the richest among us, will ever truly comprehend. As a result, in conjunction with PDOP, I have broken the numbers down for you.

The Obama administration released in the past 2 weeks revised projections that the 2009 deficit will amount to just shy of $1.6 Trillion dollars and that their long term budget projections will create $9 Trillion dollars of deficits in the next ten years. More than a year ago for another organization, I excoriated the Bush Administration for years of unchecked government spending culminating in the single largest deficit in US history. At the time, that budget deficit of half a Trillion dollars amounted to over $1 million dollars a minute in new national debt; an debt level that simply is not sustainable. With no balance of power in Washington this year, the drunken spending of politicians has tripled the record breaking Bush deficit, creating a phenomenal $3 million of new national debt every single minute (not total government spending, but new government debt). As a result, during the 8 hours of time you will spend at work today, the US government will go more than $1.4 billion into debt.

Just how much debt does $3 million a minute equate to? Consider the fact that the average American...

[Man50D]

He's merely following the Cloward-Piven Strategy

[mkjessup]

Zimbabwe here we come, with our very own version of Mugabe.

[longun45]

http://www.usdebtclock.org/

I think this says it all.

[SampleMan]

That's only $36 a day for every man woman and child, or $144 per day for a family of four.

That's not too much is it? I mean who doesn't have an extra $144 to toss to Uncle Obama every day?

[jwparkerjr]

re: $3 million of new national debt every single minute

I'll take a second’s worth of that, thank you!