Federal debt tops $13 trillion, Deficit Grows by $5 Billion Every Day

It is now undeniable, but the issue was never really in question.  Obamanomics is a failure.  Obamanomics is simply repackaged Keynesian economics mixed with socialism, progressivism, and sprinkled with a healthy dose of narcissism.

The “stimulus” hasn’t stimulated anything.  The only jobs being created are in government, and many of those are temporary.  The government is lying about these temporary jobs to build the false impression that companies are hiring and the recession is ending (gov’t fuels 413,000 gain with temp census hires).  Census workers report being hired and fired multiple times and each instance of their hiring being reported as a new job, and their firing being done in a way to prevent collection of unemployment (Census Worker Claims Job Numbers Are Being Inflated)

Obama can no longer blame Bush for anything happening to the economy now.  Obama’s continued deficit spending, giveaways and bailouts are breaking us.  Obama and the left are ignoring the warning signs coming from Europe, and the signs staring us in the face here in our own country.  This can be nothing more than the intentional destruction of the American economy and our capitalist system by a far left ideologue and his henchmen.

Wake up, America!  If we don’t “drain the swamp” of corruption in Washington NOW, we likely won’t have the chance to do it later.


http://www.washingtontimes.com/news/2010/jun/2/federal-debt-tops-13-trillion-mark/

Federal debt tops $13 trillion mark

GOP sounds ‘alarm’ on red ink

President Barack Obama speaks in the Rose Garden of the White  House in Washington, Tuesday, June 1, 20010, after meeting with the BP  Oil Spill Commission co-chairs. (AP Photo/Pablo Martinez Monsivais)

President Barack Obama speaks in the Rose Garden of the White House in Washington, Tuesday, June 1, 20010, after meeting with the BP Oil Spill Commission co-chairs. (AP Photo/Pablo Martinez Monsivais)

By Stephen Dinan

9:38 p.m., Wednesday, June 2, 2010

The federal government is now $13 trillion in the red, the Treasury Department reported Wednesday, marking the first time the government has sunk that far into debt and putting a sharp point on the spending debate on Capitol Hill.

Calculated down to the exact penny, the debt totaled $13,050,826,460,886.97 as of Tuesday, leaping nearly $60 billion since Friday, the previous day for which figures were released.

At $13 trillion, that figure has risen by $2.4 trillion in about 500 days since President Obama took office, or an average of $4.9 billion a day. That’s almost three times the daily average of $1.7 billion under the previous administration, and led Republicans on Wednesday to place blame squarely at the feet of Mr. Obama and his fellow Democrats.

“A $13 trillion debt is an alarm bell and a wake-up call combined, but Democrats are not even trying to pass a budget,” said House Minority Leader John A. Boehner, Ohio Republican. “How out of touch can Washington Democrats get? Instead of continuing to pay lip service to this issue, President Obama should call on congressional Democrats to pass a budget that provides the fiscal discipline economists say is needed to create jobs and grow our economy.”

The White House would not comment for the record, but an official speaking on the condition of anonymity said the administration is “committed to restoring fiscal responsibility.”

(read complete article HERE)


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2 Responses

  1. Kierkegaard’s clown and fiscal responsibility Edit this entry

    Posted on October 24, 2009 by donnieshortpants

    0

    The philosopher Soren Kierkegaard wrote a parable about a fire breaking out backstage in a theater. The Clown came out to inform the public. They thought it was just a joke and applauded. He repeated his warning and they just laughed and clapped louder. The point of the parable is that the greatest of disasters often occur amid public laughter and applause. Why? Because public perception of what is being warned of is frequently dismissed due to the public’s opinion of the messenger. Kierkegaard was talking about the disaster of those losing eternity when they fail to heed the warning about the salvation of their immortal soul. The Clown parable however, is applicable to every kind of human disaster. Today our nation has a deficit of 1.4 trillion dollars. These deficits are projected to grow exponentially over the next few years. Our Currency is losing its value daily. The price of Gold is soaring along with the price of other commodities. Foreign nations who hold our Bonds and are financing our reckless debt are threatening to end their support. Without a strong Currency and someone to finance this debt, we could be faced with the kind of Hyper Inflation that brought down the Wiemar Republic in 1932. Many who warn of this are looked upon as was Kierkegaard’s Clown. Too many of our elected representatives are caught up in grandiose schemes that require these huge deficits. We need to get back to principles of fiscal responsibility before a greater disaster than we have ever experienced takes place amid public applause and laughter.

  2. Outstanding post, Donnie. You point out the $1.4 Trillion DEFICIT, but let is not lose sight of the DEBT that the deficit is contributing to at a rate of $5 Billion EVERY DAY. We are closing in on $14 Trillion in debt, and that is just what has actually been reported. Some think the real story is much worse.

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