Forum Post: $16.845 trillion
Posted 13 years ago on Nov. 21, 2011, 12:31 p.m. EST by SoftwareEngineer
(16)
This content is user submitted and not an official statement
So the US National debt is at a meager $15 trillion or so now.. So the debt has increased ~$4.4 trillion under Obama so far, in less than 3 years? (2 years, 10 months and 1 day to be precise).
At this rate, the debt would be around (calculating...) 16.845 trillion by the end of Obama's term, or let's say an additional $6.218 trillion since his inauguration.
It bugs me how easy it is to just take all the money you need/want to fund whatever, simply by printing more USD.
And he continues to make excuses... But the fact remains, at this rate, he's currently the most expensive president to date!
Cleaning up after under-regulated libertarian markets is not cheap or easy.
As much as I dislike Obama and would not vote for him I am not stupid enough to blame him for the mess made by the right-wing.
Oh boy. You sure you're not stupid enough?
He said during the electoral campaigns that "change was coming".. yet he's given us much more of the same... I went to his rallys and his speeches, and I remember thinking "I hope this president is more than just the fluff he's spouting"... Turns out, he's not.
I don't disagree that he is just as much of a right-wing authoritarian as Bush was. worse because, unlike Bush, Obama has a brain. I simply will not blame him for the economic mess that was clearly caused by libertarian economic stupidity and is exacerbated by continued libertarian economic stupidity coming from the House.
Obama could have changed this in the first two years but he chose instead to give the minority libertarian Republicans every they ever wanted and more. But he was on an uphill battleground versus the trillions wasted by the libertarian Republicans.
Obama is a million times smarter than that monkey Bush.. but that's why I hold him accountable for his actions a great deal more... I expect a lot more from him. With Bush I didn't expect much.. Just like with the special olympics, you just cheer them on and hope they don't make everyone trip and fall over..
you very clearly don't even know what a libertarian is. Obama did not give the Libertarians what they wanted, instead he ignored them 100% and did the exact same things bush did, only on a much grander scale.
The U.S. national debt is a major concern. It is the principal reason that wealth is accumulating in the 1%.
Obama does not have the answer to reverse our deficits. No president will be that powerful. Most 1st world nations suffer similar national debts. Printing money, and devaluating it is a proven solution, painful though it may be. It will temporarily impoverish us all 100%. Those who remain wealthy will own other assets such as skills, commodities, factories, farms, and homes. Inflation will not injure what you know and what you can do, nor should it reduce the demand for your services.
I agree ... your biggest asset is your skill-set...
http://www.youtube.com/watch?v=4Z9WVZddH9w
You're worried about $17 trillion?
That is less than 3% of the $600 trillion derivatives time bomb held by four US banks.
Do you support bailing them out again?
It doesn't really go into why they're bad securities though. People just hear "derivative" and get scared.
The bad derivatives are the Mortgage Backed Securities that were derived from loans that went sour which were mainly Alt-As and subprimes.
It's the same unregulated global casino the collapsed in 2008. The bets are much, much bigger and instead of US housing, the underlying value are sovereign economies around the world.
"The world's gross domestic product (GDP) is only about $65 trillion, or roughly 10.83% of the worldwide value of the global derivatives market, according to The Economist. So there is literally not enough money on the planet to backstop the banks trading these things if they run into trouble."
"Compounding the problem is the fact that nobody even knows if the $600 trillion figure is accurate, because specialized derivatives vehicles like the credit default swaps that are now roiling Europe remain largely unregulated and unaccounted for."
ruckin fidiculous
more expensive than ALL other presidents combined.
I think anyone who voted for him is to blame though, seriously.
If you picked your airplane pilot based on his speech saying " Yes We Can " and " Hope Change Hope Change" rather than any flight experience or even knowledge of how to fly, you deserve the outcome.
2008 elections was "American Idol" and the results showed 53% of this nation to be complete Idiots
I do think majority of the people who voted also just wanted to see the "first black president". And some of course voted to prove to themselves they weren't racist.
Obama welcomed any and all votes.
well, I can see that .
let's Hope now that they have that out of their system, they will Change their vote in 2012
thats true also. and I also don't blame any black American who voted based on that, this time. If he was the 1st white candidate in history I may have done the same.
so. 53% is higher than the actual "Idiot percentage".
ALSO There are some who actually Want the destruction of this nation. There are communist partys and Anti-American citizens who deliberately gave him their vote.
SO it would be interesting to find the TRUE percentages.
Race Pride %
Anti American %
and Idiot %
Well, let's not assume the Idiot% isn't high on the other camp either.. The bible belt or the red states aren't exactly known for their high IQ.
I really feel that the amount of "voting power" you have should depend on your IQ. Let's say the base IQ is 80 (god I hope people aren't dumber than this) equals 1 vote. So an IQ of 136 gets 1.7 votes...
Ah heck, who am I kidding, we'd still fall really short... Majority of Americans are dumb as they come (sorry).
well, at least a high school diploma? I know democrats would be mailing one to any who registered as democrat so maybe not.
maybe the I.Q test is best. if you could get it past the NAACP
The main issue with Obama is his inexperience in American politics. The people he has met are all vipers and he is a little boy holding a broom hoping to shoo them away. With more experience, he could've avoided being boxed in like he is. He could've maneuvered and strategised; instead, he's been reacting to their strikes. Far to slow...
Look at history and look at what happened when individuals who thought, 'We can just print more' got into power. Take Germany in WW1 and WW2 where a truckload of Reichmarks couldn't buy a loaf of bread. Sure, more money can be made, but not w/o devaluing it. Devaluating the dollar will destroy us as effectively as corporate greed. We'd NEVER pay back our debts and we'd become the whipping boy of the world.
I think that's Obamas plan. though you are not supposed to be intelligent enough to figure it out and if you are? it just means you have been subject to FOX news Lies,
THAT is the next target. eliminate news sources who don't cover up democrat catastrophe
hah, maybe Obama is a communist indeed!
No, just a 'punk' in American politics, trying to hang around and 'jaw' with the ancient relics therein...