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101Speedster

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Ventura

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Message Posted: Apr 20, 2011 1:04:09 PM

How high will we and our politicians let our national debt go?

U. S. National Debt Clock

It's currently $14,311,240,500,000 and climbing.
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reb4
Champion Author Chicago

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Message Posted: Dec 4, 2014 8:53:05 AM

On National Debt when Bush was president and it reached 9 Trillion....

Senator Obama called Bush irresponsible, and Un Patriotic.Currently the National Debt is over 18 Trillion Dollars....



SMH

[Edited by: reb4 at 12/4/2014 8:53:12 AM EST]
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reb4
Champion Author Chicago

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Message Posted: Dec 3, 2014 8:55:18 AM

I75, yea, why should Americans have any concern for being fiscally responsible? Our government shows us by example how to not do it.



I have to shake my head in that this is not an issue.




Senator Obama calls Bush "unpatriotic" for adding trillions to debt


We are now over 18 Trillion Dollars...



That is the one question I would like him to answer If I had the opportunity to talk to him face to face... I would ask him how come it was an issue as Senator, but as President, it is no longer a concern....

(I'm sure I will never be asked to meet with him)...

[Edited by: reb4 at 12/3/2014 8:56:14 AM EST]
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I75at7AM
Champion Author Dayton

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Message Posted: Dec 1, 2014 10:05:25 AM

Reb4, your posts of Nov.14 and Nov.28 are truly frightening.

Consider the implications. The federal government continues to deficit spend well in excess of what most American households have in disposable income each month.

And now, when the bill comes due, we take a cash advance on a credit card to pay the current bill, re-stacking the old debt along with the new debt.

Money we borrowed ten or even thirty years ago is being re-borrowed again, we still haven't paid it back, but we will continue to pay interest on that old debt for another ten or thirty years. Just think, the great things we did with money back in Reagan's first term is paying us dividends......wait, we are still paying interest on that spending, and might be for another 30 years!
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reb4
Champion Author Chicago

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Message Posted: Nov 30, 2014 4:25:02 PM

looks like the debt will be above 18 Trillion in debt by Christmas...



SMH
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streetrider
Champion Author Gary

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Message Posted: Nov 29, 2014 12:40:49 PM

A smart man once said deficits don't matter (Dick Cheney).

he was right the amount of money the government puts in the money supply is at best an elusive estimate, and that was before globalization.

three holders our businesses, households and government.

The government to some disillusionment of the folks here, has always acted as the redistributor of the supply.

the government can pay off the debt immediately, don't think most would like the consequence.
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reb4
Champion Author Chicago

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Message Posted: Nov 28, 2014 9:03:41 PM

Ponzi: Treasury Issues $1T in New Debt in 8 Weeks—To Pay Old Debt

"The Daily Treasury Statement that was released Wednesday afternoon as Americans were preparing to celebrate Thanksgiving revealed that the U.S. Treasury has been forced to issue $1,040,965,000,000 in new debt since fiscal 2015 started just eight weeks ago in order to raise the money to pay off Treasury securities that were maturing and to cover new deficit spending by the government.

During those eight weeks, Treasury took in $341,591,000,000 in revenues. That was a record for the period between Oct. 1 and Nov. 25. But that record $341,591,000,000 in revenues was not enough to finance ongoing government spending let alone pay off old debt that matured."


"The Treasury also drew down its cash balance by $45.057 billion during the period, starting with $126,568,000,000 in cash and ending with $81,511,000,000.

The only way the Treasury could handle the $942,103,000,000 in old debt that matured during the period plus finance the new deficit spending the government engaged in was to roll over the old debt into new debt and issue enough additional new debt to cover the new deficit spending.

This mode of financing the federal government resembles what the Securities and Exchange Commission calls a Ponzi scheme. “A Ponzi scheme," says the Securities and Exchange Commission, “is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors,” says the Securities and Exchange Commission."

17,958,716,000,000
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reb4
Champion Author Chicago

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Message Posted: Nov 14, 2014 8:37:08 PM

Tax Revenues Set Record for October; Feds Still Run Monthly Deficit of $1,050 Per Household





"The federal government has started fiscal 2015 by setting yet another record for inflation-adjusted tax revenue, while running a monthly deficit of $121.7 billion, which works out to $1050.78 in deficit spending per household in the United States.

For each $1.00 the Treasury brought in during October as it set the new record for taxes collection for that month, the federal government spent $1.57."

[Edited by: reb4 at 11/14/2014 8:37:23 PM EST]
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reb4
Champion Author Chicago

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Message Posted: Oct 26, 2014 12:23:22 AM

Yes popcorn pirate... All the wonderful policies the left wanted and spending the future generations money....

And their will be more spending policies passed by executive order coming before January .... No doubt....
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PopcornPirate
Champion Author New Jersey

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Message Posted: Oct 23, 2014 10:13:09 AM

So Obama has in short... DOUBLED the debt since he has been in office.
OK...Great.
Please can we get someone in Washington to start getting rid of that debt?
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reb4
Champion Author Chicago

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Message Posted: Oct 23, 2014 10:05:03 AM

Let's see, since


January 22, 2008 debt was 9,191,074,962,157.16

October 22, 2014 debt was 17,909,673,864,034.60
so the debt since Obama took office: 8,718,598,901,877.44


Something all voters should think about when going to the polls.




Obama called Bush.... Un Patriotic..... And called Bush irresponsible.....So What does Obama call himself????

SMH

[Edited by: reb4 at 10/23/2014 10:10:01 AM EST]
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reb4
Champion Author Chicago

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Message Posted: Oct 9, 2014 1:08:29 PM

The Debt to the Penny and Who Holds It



Here is an interesting site... Debt to the penny ... you can put in two dates and see how much more the National debt has changed, between those two dates.





Obama took office January 21, 2005




Since that date.... debt has grown by 10,254,483,421,837.30





Obama Talked about paying back 9 trillion Dollars ... and how Bush was un patriotic...








How does paying back 17.867 trillion dollars sound...



[Edited by: reb4 at 10/9/2014 1:09:10 PM EST]
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TuNnL
Champion Author Honolulu

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Message Posted: Oct 5, 2014 7:15:35 AM

On Jul 16, 2014 at 8:51 AM, Shockjock1961 wrote:

>>> "Nothing like an administration that knows how to spend more than we have..."

That's been the case for a hundred years or more. Mega deficits have been prominent since 1980, so I'm unsure why that issue is any more of a problem then it has been in the past. <<<

You are wrong on both accounts. Also we are talking about DEBT (what we owe cumulatively) not DEFICITS (receipts minus spending for a particular year) which are two separate, entirely different things. The debt DID actually go down from 1927 to 1928. This was the only time that has happened since the turn of the 20th century.

As for why it is MORE of a problem then it has been in the past, it’s because up until President Nixon’s term, the RATIO of debt to GDP (gross domestic product) was on a downward trajectory. The lowest it had been since the end of World War II was about mid-way through his term. That is when Nixon had the “brilliant” idea to take U.S. currency off the “Gold standard.”

Up until August 1971, all cash was backed by Gold, somewhere in our banking system, and could be legally tendered, on demand, for Gold. By taking the U.S. off the standard, our cash became “fiat money” or essentially worthless, if the person you are trying to pay wants to exchange that currency for Gold.

Ever since then, the federal government has printed more money whenever the felt like it! Trouble is, if there's nothing backing up those dollars, the value has to come from SOMEWHERE. That SOMEWHERE, are LOANS from foreign governments. The country we have borrowed the most money from is China. And why is China so rich in the first place? Because we have SHIPPED ALL OUR JOBS to China.

So now that we don’t even have the jobs to continue paying more taxes (so we can use the taxes to pay debts), President Obama is borrowing MORE money at a FASTER RATE then at any time in U.S. history! Our debt is now 120% of the GDP. This means as a country, we don’t even make enough money annually to keep up with making the payments on our debt (let alone start paying it off)!

Eventually, our lenders will wise up, and STOP lending us money. As a result, our stock market will crash, companies will go bankrupt overnight, and banks will freeze all accounts to avoid a bank run. Great Depression II. Get it?
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reb4
Champion Author Chicago

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Message Posted: Sep 25, 2014 11:57:01 PM

jr Senator Obama bashing Bush on driving up the deficit....



Let's see, Obama complained that Bush raised national debt total of 4 trillion Dollars by his lonesome.... However, Obama has raised the debt to date ... 7 Trillion dollars and there is still more than 2 years to go....
Obama Talked about paying back 9 trillion Dollars ...

However, We now have to somehow payback over 17.7 trillion dollars... *And growing .Obama COmplained about the debt being $30,000 for every man, women, and child...

But NOW it's over $55,666 for every man, woman and child...Obama called Bush.... Irresponsible....

Obama called Bush.... Un Patriotic.....
So What does Obama call himself????

SMH


[Edited by: reb4 at 9/25/2014 11:59:30 PM EST]
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reb4
Champion Author Chicago

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Message Posted: Sep 22, 2014 8:45:13 AM

Median Income : 2014 - 28,479
Median Income : 2010 - 28,648 (this IS adjusted for inflation)

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jeskibuff
Champion Author Tampa

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Message Posted: Sep 21, 2014 8:07:25 PM

reb4 said: "Barack Obama, 2006 Ooops...."

reb4, please make a better effort to not be redundant! ;)
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reb4
Champion Author Chicago

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Message Posted: Sep 21, 2014 7:42:23 PM

Previous link not working ... here is another report
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reb4
Champion Author Chicago

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Message Posted: Sep 13, 2014 4:33:22 PM

Deficit growing despite increased revenue from tax increases
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PopcornPirate
Champion Author New Jersey

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Message Posted: Aug 8, 2014 9:27:25 AM

Yes I know both sides do it.
BUT
The Liberals spend it on feel good projects & freebee giveaways to their people.

Conservatives spend on Defense & infrastructure. This spending actually increases jobs & lifts the economy up.
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reb4
Champion Author Chicago

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Message Posted: Aug 6, 2014 7:40:58 PM

LOL, good luck with that... Popcorn...

Both sides do it... but it sure seems the current administration is going for the record books...
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PopcornPirate
Champion Author New Jersey

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Message Posted: Aug 6, 2014 9:55:57 AM

If you cant afford it...Dont spend it.
Something our government has not learned
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reb4
Champion Author Chicago

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Message Posted: Aug 6, 2014 9:09:16 AM

"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. America has a debt problem and a failure of leadership. Americans deserve better. I, therefore, intend to oppose the effort to increase America's debt."

--Barack Obama, 2006
Ooops....
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reb4
Champion Author Chicago

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Message Posted: Jul 16, 2014 7:09:21 PM

"Spending bills start in the Congress.
The party of no has been stuck in low/no gear for the last five years."





Let alone the encouraging the flood gates with his administrations actions, or lack there of...






[Edited by: reb4 at 7/16/2014 7:09:40 PM EST]
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Shockjock1961
Champion Author Illinois

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Message Posted: Jul 16, 2014 2:51:25 PM

"Nothing like an administration that knows how to spend more than we have..."

That's been the case for a hundred years or more. Mega deficits have been prominent since 1980, so I'm unsure why that issue is any more of a problem then it has been in the past...
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Cliffisher
Champion Author Wisconsin

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Message Posted: Jul 16, 2014 1:42:57 PM

"Nothing like an administration that knows how to spend more than we have..."

Spending bills start in the Congress.
The party of no has been stuck in low/no gear for the last five years.

Maybe we need another GOP unfunded war to perk them up?
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I75at7AM
Champion Author Dayton

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Message Posted: Jul 15, 2014 1:18:42 PM

News:
Federal Tax Revenues Set Record Through June; Feds Still Running $385.8B Deficit

"CNSNews.com) - Federal tax revenues continue to run at a record pace (in inflation-adjusted dollars) in fiscal 2014, as the federal government’s total receipts for the fiscal year closed June at an unprecedented $2,258,565,000,000 according to the Monthly Treasury Statement."

So far so good, right? (some people believe that the federal government SHOULD tax huge amounts of cash out of the economy)

"...the government has still run a cumulative deficit of $385.855 billion in the first nine months of fiscal 2014."

"...it ended fiscal 2013 with a full-year deficit of $680.221 billion."

"...the federal government will collect $3.001721 trillion in taxes and spend $3.650526 trillion, while running a deficit of $648.805 billion." (in 2014)

Wow, a deficit reduction of 22 Billion over a year. It would take only 29.4 years to get that deficit down to zero, i.e. a balanced budget. Paul Ryan's budget plan offered to do it in ten. Connie Mack's Penny Plan does it in six.

I'll take Penny for Six, Alex.

[Edited by: I75at7AM at 7/15/2014 1:19:50 PM EST]
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reb4
Champion Author Chicago

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Message Posted: Jul 3, 2014 2:00:13 PM

WOW, you are right citizen1.... it did go down between 1929 to 1930...

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citizen1
Champion Author Connecticut

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Message Posted: Jul 2, 2014 10:56:40 AM

There hasn't been a president in my lifetime that did a good job with the debt although some were worse than others. Clinton claimed a balanced budget but the debt rose each year so that was just a gimmick that Newt was all to willing to play along with.
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SE3.5
Champion Author Indianapolis

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Message Posted: Jul 2, 2014 9:43:41 AM

tick tock tick tock
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reb4
Champion Author Chicago

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Message Posted: Jul 2, 2014 9:12:58 AM

It's currently $17,557,923,900,000 and climbing!



Nothing like an administration that knows how to spend more than we have...



[Edited by: reb4 at 7/2/2014 9:13:11 AM EST]
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Shockjock1961
Champion Author Illinois

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Message Posted: Jun 5, 2014 8:57:04 AM

"Obama is doing a great job with our spending and debt, isn't he?"

You seem to love the handouts Obama provides speedy...

Why are you complaining about it now?
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101Speedster
Champion Author Ventura

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Message Posted: Jun 4, 2014 11:37:19 PM

Obama is under investigation for so many things that it actually is helping him. Democrats just ignore them all and call them "politics" started by the Republicans.
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MahopacJack
Champion Author New York

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Message Posted: Jun 3, 2014 5:50:01 PM

101Speedster, >>Obama is doing a great job with our spending and debt, isn't he?<<
~
Isn't this one of the many things he has "under investigation" or am I mistaken?
~
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101Speedster
Champion Author Ventura

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Message Posted: Jun 3, 2014 4:18:48 PM

btc1: "Remember who's guys got us here. Know who it takes to get us out of debt. Democrats, always."

Obama is doing a great job with our spending and debt, isn't he?
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reb4
Champion Author Chicago

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Message Posted: Jun 3, 2014 2:07:35 PM

Just saw this link.... Numbers are off, but soooooo appropriate...
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reb4
Champion Author Chicago

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Message Posted: May 29, 2014 9:30:12 AM

Lack of responsibility to spend what we have has been a trend... for a very long time.. and the consequences will show.
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ldheinz
Champion Author Chicago

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Message Posted: May 18, 2014 5:44:51 PM

There's plenty of blame to go around. No one person or party is solely to blame for this mess.
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MahopacJack
Champion Author New York

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Message Posted: May 18, 2014 12:54:25 PM

btc1, >>Know who it takes to get us out of debt. Democrats, always. Conservative Presidents are always the big spenders without paying for it.<<
~
BS.

Granted alleged conservatives have shared in bringing financial havoc on our country, it was brought about and continues to be brought about by Progressive ideology. Placing blame solely on any one party is simply a falsehood.

As far as Democrats getting us out of the last financial fiasco, you must have forgotten that it is the Congress that controls the purse strings of this nation. At the time of our last 'balanced budget', Republicans were the majority and Clinton had suffered major setbacks in both Houses in 1994. This lasted until 2006.

You also seem to forget there were two wars fought which had bipartisan support. They were the result of 9/11 which may have been averted had Clinton given the go ahead to send a cruise missel into Afghanistan in the late 1990's. (See Col. Robert Paterson's book, 'Dereliction of Duty'.

Again, as a result of the Republican Party acting 'progressively', the financial status of our country has been seriously damaged and history shows the blame does rest entirely on their shoulders.
~



[Edited by: MahopacJack at 5/18/2014 12:57:57 PM EST]
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btc1
Champion Author Lexington

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Message Posted: May 18, 2014 9:22:04 AM

Thanks to the one who took us out of bounds.

If this guy had not tripled the national debt and the Republican Presidents who followed him, Obama would not be in the position he is in having to spend more money to straighten out their mess.

Remember who's guys got us here. Know who it takes to get us out of debt. Democrats, always. Conservative Presidents are always the big spenders without paying for it.

You are right, therder. We are just now beginning to understand how Reagan cost us.

[Edited by: btc1 at 5/18/2014 9:25:22 AM EST]
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101Speedster
Champion Author Ventura

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Message Posted: May 17, 2014 11:22:14 AM

It's currently $17,522,300,400,000 and climbing.

[Edited by: 101Speedster at 5/17/2014 11:22:54 AM EST]
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101Speedster
Champion Author Ventura

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Message Posted: Apr 22, 2014 10:56:23 AM

Obama also said it was irresponsible. Thanks for the link, reb4.

Debt per citizen is now up to $55,186. It's almost three times higher if you use taxpayers.

[Edited by: 101Speedster at 4/22/2014 10:58:10 AM EST]
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TuNnL
Champion Author Honolulu

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Message Posted: Apr 5, 2014 6:54:39 PM

On Apr 1, 2014 at 3:51 AM, reb4 wrote:

>>> If 4 trillion run up by 43 president was un patriotic, what is 8 trillion by 44th president... <<<

You call it part of Barack Obama's continuing hypocrisy and an urgent need for Ron Paul Republicans to join with the Tea Party, Libertarians and Occupy Wall Street in taking this country back!
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therder
Champion Author Lexington

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Message Posted: Apr 5, 2014 3:56:42 PM

The debt is going higher and higher. The money printing is going higher and higher. You've got to pay the price someday whether you like it or not. The longer you delay the day of reckoning, the worse the day of reckoning is going to be.
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reb4
Champion Author Chicago

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Message Posted: Apr 1, 2014 9:51:38 AM

The National Debt is now up to 17,551,097,000,000

If 4 trillion run up by 43 president was un patriotic, what is 8 trillion by 44th president...
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reb4
Champion Author Chicago

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Message Posted: Mar 6, 2014 8:25:59 AM

101Speedster, please back up your claims....

PS, current national debt is 17 trillion dollars

SMH
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101Speedster
Champion Author Ventura

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Message Posted: Mar 5, 2014 11:07:38 AM

Who was it, before elected, that said that excessive debt was unpatriotic? Oh, it was Obama.
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I75at7AM
Champion Author Dayton

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Message Posted: Mar 5, 2014 7:52:20 AM

Yes, therder, that's a whale of a debt that we are trucking down the road.......
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therder
Champion Author Lexington

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Message Posted: Mar 5, 2014 12:02:40 AM

Well the latest budget proposal has been released by the Obama administration. A lot of bragging about how it has "stabilized the debt to GDP ratio". That sounds good but the interest on the debt alone will soon be more than defense spending. Our road to ruin continues...
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101Speedster
Champion Author Ventura

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Message Posted: Feb 19, 2014 11:32:43 AM

It's currently $17,297,678,700,000 and climbing.
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reb4
Champion Author Chicago

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Message Posted: Feb 5, 2014 9:52:06 AM

Debt Up $6.666 Trillion Under Obama

I guess this administration believes in pedal to the medal... on spending...

Oh Jobs, ??? nahhhh...

disregard the 666 number....

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jeskibuff
Champion Author Tampa

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Message Posted: Dec 14, 2013 10:16:11 AM

karl13 said: "As high as necessary to keep the economy moving forward."

Pedal to the metal, eh?

About as responsible as a drunken teen behind the wheel of daddy's Ferrari, these Democrats are!
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Shockjock1961
Champion Author Illinois

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Message Posted: Dec 14, 2013 9:44:34 AM

"Reb, you should know by now, new revenue = new spending. Every time"

Illinois is the perfect example of that. They increased the tax rate 66% with the "intent" of balancing the budget. Three years later the state is even further in debt then it was before the tax increase...
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