Obama’s Now Borrowed More Than All Pr...

Obama’s Now Borrowed More Than All Presidents from Washington to W

Posted in the Cookeville Forum

First Prev
of 6
Next Last
Fact

Cookeville, TN

#1 Dec 1, 2012
Obama’s Now Borrowed More Than All Presidents from Washington to W
( CNSNews.com )- The federal government has now borrowed more money during Barack Obama’s time as president than it did in the period lasting from the time President George Washington took the oath office until July 2, 2001, more than five months into the first term of President George W. Bush.
At the close of business on Jan. 20, 2009, when President Barack Obama was inaugurated, the national debt stood at $10,626,877,048,913.08, according to the Treasury. At the close of business this Thursday, it stood at $16,323,083,449,604.98.
That means the debt has increased $5,696,206,400,691.90 during Obama’s presidency.
On July 2, 2001, more than five months after President George W. Bush entered office, the national debt was $5,693,220,327,798.14, according to the Treasury. By the close of business on July 3, 2001, it had risen to 5,698,195,769,465.40. Since then, the debt has never again dropped below $5,696,206,400,691.90—the amount it has increased in less than one full term of Obama.
(Between late 1999 and the middle of 2001, as federal revenues sometimes exceeded expenditures, the debt fluctuated back and forth over the $5.696 trillion mark--only to finally pass that threshold, without retrenching, between July 2 and 3, 2001.)
On Thursday, Treasury Secretary Timothy Geithner suggested that Congress give President Obama the unilateral authority to lift the limit on the national debt.
The Census Bureau estimated in September that there were 114,916,000 households in the United States. That means that the $5,696,206,400,691.90 the Obama administration has borrowed in the name of U.S. taxpayers now equals about $49,568 per household.
lol

Cookeville, TN

#2 Dec 1, 2012
If the toilet backs up and overflows up to the ceiling, do you raise the ceiking or clean it up? DUH!
Itis

Cookeville, TN

#3 Dec 1, 2012
If some one should ask ..Isn't it Congress that borrows money?
Per the Constitution, expenditures originate in the House. When the Democrats had a supermajority, they passed the budget we currently have. See, the Senate, led by Harry Reid, will not allow a budget to come up for a debate or vote. The purpose of this is to deny the opportunity for a new budget to be passed. Until a new budget is passed, the Congress is faced with the same choice: allow the government to default or pass a continuing resolution which allows the government to keep spending money but does not allow the budget allocation amounts to be changed (i.e. spending is frozen at stimulus levels). One would think that the man behind ramming through the most unpopular, least understood legislation in the history of the country would be able to pass a simple budget. The truth is that the House has passed several budgets, but the Senate kills them so spending can be frozen at the sky-high levels set by the Democrat supermajority. Then when the continuing resolution ends, the Democrats cry that the Republicans are holding the government hostage, when all that the Republicans want is a reasonable budget that doesn't require mortgaging the US to China.
Bottom line: If nerobama can get obamacare rammed through Congress, he should be able to get a reasonable budget passed. He won't because he doesn't want a reasonable budget. He's content to keep spending at 2009 stimulus levels, even though he claims both the recession and stimulus have ended and has been demanding more stimulus spending. We've all seen how "stimulated" the economy is: 1.7% GDP growth and 2.8% inflation =-1.1% real GDP growth.
Jerry

Cookeville, TN

#4 Dec 1, 2012
Excellent explanation! Bravo my friend. Too confusing for the left, they all failed math in school. Thanks for posting this.
HST45

Cookeville, TN

#5 Dec 2, 2012
Agree…The majority of the Obamaknights AKA welfare recipients…don’t seem to understand what this means are where we are headed.
They think they won..when the first and the third of the month comes and they discover no government funds have been deposited in their accounts….when they try and use their EBT cards and they don’t work..then they will figure out what all this means.
Are they going to think they have won then? They will be the first group who wont survive, and more then likely have a breakdown.
The Hispanics fled from Mexico..little do they know what they fled from there will soon be here in America.
I have talked to people in the NE , their opinions of Obama have changed dramatically.
I have talked with a good friend who was a first class Obamaknight, he now has a petition up at the white house page, Trying to preserve the rights to own assault rifles.
The lesson to be learned is we all lose in the end, slowly but surely Obama’s agenda will rain on the majority of the people’s parade, and they wont say anything until it starts to affect them on a personal level.
What’s done is done, personally I fear the worst.
It’s going to be and others who have to deal with the Obamaknights when everything goes all to hell and they can’t deal with it.
Until then the ObamaKnights can keep on plying their Violins, just like the guys did on the titanic as it sunk.

Since: Jun 11

Location hidden

#6 Dec 2, 2012
Lol start your on thread and be the only poster till me...lean forward bro.

Since: Jun 11

Location hidden

#7 Dec 2, 2012
And your just little Mr copy and paste guy....think on your own.

Since: Nov 12

Location hidden

#9 Dec 3, 2012
More made up garbage. Bush racked up debts of 6.1 trillion dollars on wars and tax cuts. Obama has spent 2.4 trillion dollars mostly on stimulus here in the uSa.CBO has said bush 2 is responsible for over 60% of the total debt this nation owes going back to ww2.

Stop eating sour grapes. They're bad for you.
James M

Cookeville, TN

#10 Dec 4, 2012
Jerry wrote:
Excellent explanation! Bravo my friend. Too confusing for the left, they all failed math in school. Thanks for posting this.
I believe the KKKarl Rove, the grand poobah of republicans had a math problem recently. I guess losing in a landslide confused him. LOL

Since: Nov 12

Location hidden

#11 Dec 4, 2012
Furthermore the only president to spend as much as all those before him was the one and only----- ronnie reagan.
distressed

Livingston, TN

#12 Dec 4, 2012
Teddy Bonkers wrote:
Furthermore the only president to spend as much as all those before him was the one and only----- ronnie reagan.
where are your numbers? Simply saying it does not make it true.
Pie

Cookeville, TN

#13 Dec 5, 2012
A Gathering of Criminals wrote:
Lol start your on thread and be the only poster till me...lean forward bro.
Oh please….go FYM
Todd D

United States

#14 Dec 5, 2012
Detroit councilwoman to Obama: We voted for you, now bail us out
Published December 05, 2012
A Detroit city council member is asking President Obama to bail out the financially troubled city in return for residents’ overwhelmingly supporting his successful re-election bid.

“There ought to be a quid pro quo," said Councilwoman JoAnn Watson, according to My Fox Detroit.

Nearly 75 percent of voters in Wayne County, which includes Detroit, voted for Obama on Nov. 6.

"After the election of Jimmy Carter, the honorable Coleman Alexander Young, he went to Washington, D.C., and came home with some bacon," Watson said. "That's what you do, get your kickbacks" Watson said.

Young was Detroit's mayor for 20 years and served as vice chairman of the Democratic National Committee from 1977 to 1981.

Since: Nov 12

Location hidden

#15 Dec 5, 2012
Funny you anti Obama nuts asking someone for proof when it comes to a fact about reagan but when its about obama you'll believe any insane piece of stupidity you hear about him without asking for one speck of proof. Typical neocon hypocrisy.
Jenni

United States

#16 Dec 5, 2012
Teddy Bonkers wrote:
Funny you anti Obama nuts asking someone for proof when it comes to a fact about reagan but when its about obama you'll believe any insane piece of stupidity you hear about him without asking for one speck of proof. Typical neocon hypocrisy.
Name calling=you lose.
Jenni

United States

#17 Dec 5, 2012
Teddy Bonkers wrote:
Furthermore the only president to spend as much as all those before him was the one and only----- ronnie reagan.
back it up with facts? No one here beleaves simply what what you offer up as fact.
Yeah I said that

Fort Myers, FL

#18 Dec 5, 2012
You can't spin he facts;

Regan deficit $1.6 trillion
Total accrued during his 8 years as president. Deficit was $900 billion at the start of his first term.

Bush deficit $5.0 trillion
Total accrued during his 8 years as president. Deficit was $5.9 billion at the start of his first term.

Obuttma deficit $5.4 trillion
Total during his first 4 years and rising. Deficit was $10.9 trillion at the start of his first term.

Case closed, period!

source: http://www.skymachines.com/US-National-Debt-P...
Yeah I said that

Fort Myers, FL

#19 Dec 5, 2012
correction;

Bush deficit $5.0 trillion
Total accrued during his 8 years as president. Deficit was $5.9 *trillion* at the start of his first term.
Just saying

Cookeville, TN

#22 Dec 7, 2012
We have a lost generation of Americans. We who make up the baby boom generation still talk about the American dream.
For the lost generation, the American dream is now dead.
Who are the lost generation and why is the American dream nothing but a myth to them?
The lost generation is the group we call “Millennials.” They are the people under 30.
Why is their generation lost?
Ironically, it is because of the very liberal policies a majority of these young people championed when they voted for Barack Obama.
Research has shown something very interesting. Millennials are not buying houses, cars or even steak dinners.
The reason why is not a mystery to anyone except for the left.
They are not buying because they cannot buy.
First, among Millennials, the unemployment rate is almost 50%. One out of two of them are unemployed. The Great Obama Depression has destroyed this generation’s wealth before it was created.
The Obama economy has denied so many of them what people need to start their adult lives. A job and a career. For many of them, the best they can now do is find a part time job that works them 29 hours a week.
Those are the lucky ones.
Many of those who are unemployed went through school on student loans. Many of them took those loans out five years ago or longer, when times were good. In 2007, 9 out of 10 recent college graduates found work.
Unfortunately for many of these students, they were enticed with the offer of easy money. They could pay for college and have a good time too with money they could pay back later. The banks did not care whether the students were a good credit risk or not. Liberals had run through provisions that guaranteed these loans. 21 Year olds were graduating from college,$150,000 in debt, having gotten a degree in a field that might only pay them $30,000 a year.
If the students paid their loans back, the banks were happy. If they did not, the government covered the loss and the banks were still happy.
These Millennials are not buying homes and cars because they have one of three problems. Either they do not have a job, and without a job, no one is buying a car, house or steak dinner. Or, they are paying back massive student loans in which case they do not have the spare money for a house, a car or even a nice dinner out. Or, they have defaulted on their student loans and their credit is in the toilet. They might be able to afford the steak dinner but they cannot qualify for a house or a car.
That is not going to change anytime soon.
Thanks to another liberal hero, Bill Clinton, it is very difficult to discharge student loans in bankruptcy. It is possible but very unlikely.
For the Millennials, they are the first generation to look at their parents’ lives and see that their parents had it better than they did.
I wish I could offer the Millennials hope. They overwhelmingly turned out for Obama so they have sowed the wind and now they are reaping the whirlwind. They have a leader who does not want them to be successful like their parents. They have a leader who wants not greatness for America but poverty for Americans.
Just saying

Cookeville, TN

#23 Dec 7, 2012
Perhaps by 2017, things may change. If we can get a conservative Congress in place and can get a Conservative elected in 2016, perhaps then the economy will improve. Perhaps by then some of the Millennials will be able to get jobs.
At some point, we are going to have to deal with the financial chaos liberalism has brought upon us. We are going to have to change the student loan program so these loans are not given out like candy at Halloween. There must be some tie between the loans and the programs students take. Students must be required to show some plan to pay the loans back before they are given.
And at some point, the government is going to have to take a big hit. At some point, the bankruptcy code is going to have to be changed to make these student loans dischargeable so these Millennials can go on with their lives.
We can look at the left and to quote Laurel and Hardy,“This is another fine mess you’ve gotten us into.”
What we must learn is that we cannot allow the left to run any part of government. All that results from is a totally preventable disaster that some Americans have to pay the price for.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker
First Prev
of 6
Next Last

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Cookeville Discussions

Title Updated Last By Comments
Melania Trump 3 min Rasheed 30
Trump First Family 11 min Antifa 11
Guy walking around in hooded clothing 1 hr Antifa 33
Blue Christmas 2 hr Trump2016 1
Cookeville Boatdock Water Utility? (Feb '13) 2 hr one 16
Donald Trump 5 hr TRUMPTRAIN 25
News THP checkpoints tonight, Jan. 28 5 hr Fuh Q 3

Cookeville Jobs

More from around the web

Personal Finance

Cookeville Mortgages