Tag Archives: debt ceiling

Debt crisis looms again

August 2, 2011, Obama signed the law allowing the federal debt ceiling be raised from $14.3 trillion dollars to $16.7 trillion dollars.

This is less than a month later, August 30, 2011, and the debt is increasing so fast you can’t even write it down.

Won’t be long before it reaches $16 trillion and they will want to raise it again.  That’s guaranteed.

According the CNN, this was supposed to extend to 2013 beyond the 2012 election.

Here’s a recap of how that went down in summer of 2011:http://www.npr.org/2011/08/02/138916516/senate-takes-up-debt-limit-bill-passage-likely

Well, in less than a year, that $2 trillion has been borrowed and spent and we are now up against the ceiling once more.

The national debt now exceeds GDP.

The debt is over $50,000 per citizen.

The obama has said he will not tolerate another fight to reduce spending that the republicans waged in 2011.  I think he wants to “tax the rich.”  Where did I get that idea?

Some calculations have been made that if you take every dime from every person and family with adjusted gross income of over a million dollars, it would run the government for about 100 days.

The obama submitted a budget that was so irresponsible it was just voted down in the congress with 0 votes – that’s Zero votes – because not even one democrat was willing to attach their name to it.

The Senate has not submitted a budget in over 3 years, which is required by law every year.

The republicn House of Representatives has submitted to the Senate 2 or three budget plans to cut spending and balance the budget, yet,

“Democrats controlling the Senate rejected for the second year in a row Wednesday a budget plan passed by House Republicans.”

That’s Wednesday, 5.16.12.

And further, you will hear the democrats and the president whining on about how it is republicans who are the problem.

And the corrupt media will serve as their mouthpiece, repeating whatever they are told to say.

http://www.usdebtclock.org/

Posted: 05.18.12 @ 3:16 p.m.

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National debt now exceeds GDP – debt ceiling set to increase another $1.2 trillion

National Debt exceeds GDP and there’s barely a blip about it.  The House is set to vote today on obama’s request to raise the debt ceiling yet another $1.2 trillion dollars.

National Debt:  $15,246,871,000,000 (Trillion!)

Gross Domestic Product:  $15,124,464,000,000 (Trillion!)

The total of the U.S. debt load is now $15.2 trillion, more than the annual value in goods and services of the country’s economy.

Although the specific figure is difficult to pinpoint, the benchmark was likely reached at some point in the last few days, USA Today first reported Monday. In layman’s terms, it means the world’s largest economy now collectively owes more than its entire annual output is worth.

http://www.cbc.ca/news/business/story/2012/01/09/us-gdp-debt.html

The House returns this week to a vote on a resolution to reject President Obama’s request to raise the national debt limit, now 15.24 trillion, by $1.2 trillion – the final element of a debt ceiling agreement that Congress approved on Aug. 1.

At first glance, Wednesday’s vote would seem to reopen the most toxic debate of this Congress, which took the nation to the brink of the first-ever default on the national debt last summer.

But, by design, Wednesday’s vote will be more theatrical than practical. Even if the House votes, as expected, to reject the president’s request, the measure still has to pass the Democrat-controlled Senate and avoid a presidential veto – both highly unlikely outcomes.

http://news.yahoo.com/house-reject-debt-limit-increase-why-doesnt-really-234615471.html

http://www.usdebtclock.org/

Posted:  01.18.12 @11:05 a.m.

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Filed under Barack Obama, Financial Crisis, Uncategorized

The Obama change has all been for the worse.

Since it is now customary to hang all blame on a former administration, the next president is really going to get to claim he inherited a mess.  Of course, every president has inherited the state of affairs from the previous one.  Nothing new.  

Unemployment:

.

http://www.marklevinshow.com/goout.asp?u=http://data.bls.gov/timeseries/lns14000000

There’s been a change, all right, and it’s all been for the worse.

Obama to request rise in debt ceiling another $1 Trillion ~ as he plays his 91st round of golf https://bellalu0.wordpress.com/2011/12/31/21294/

December, 2011 in Hawaii

$15,115,000,000,000  Trillion Gross National Product

$15,225,000,000,000 Trillion National Debt (It was around $8 trillion when obama became president)

http://www.usdebtclock.org/

We would have to be out of our minds to re-elect this man.

Posted:  01.12.12 @ 5:05 p.m.

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Senator Rubio informs president of his opposition to raising debt ceiling

Marco Rubio has declared to obama that he will oppose raising debt ceiling any further:

In a scathing letter sent to Barack Obama this morning, Senator Marco Rubio said that under the President’s first term in office, “more and more people have come to believe that America is becoming a deadbeat nation.”
Rubio went on to pledge that he would challenge any further increase in the debt ceiling, arguing that “we [Congress] need to make it routine to actually spend no more than we take in.” In the letter obtained by HUMAN EVENTS, the Florida Senator said that President Obama’s upcoming request to increase the debt ceiling by a whopping $1.2 trillion will cause the nation’s public debt to surpass the $16 trillion mark.
“I will oppose your request to continue borrowing and spending recklessly.”

http://www.humanevents.com/article.php?id=48605

Current GDP  $15,105,346,000,000 (rounded)

Current Debt $15,199,051,000,000 (rounded)

At the end of August, the ceiling was raised to $16.7  trillion.

obama plans to request $1.2 trillion soon.  Just how high do they intend to go.  This does not even include SS and medicare liabilities (which is now receiving less money because of obama’s big fine so-called tax break, a reduction in FICA deductions.)

And he is worried about “payday loan” companies.

Watch him.  He may try to go around the congress on this, too.

http://www.usdebtclock.org/#

https://bellalu0.wordpress.com/2011/08/30/national-debt-increasing-so-fast-you-cant-even-write-it-down/

Posted:  01.06.12 @ 11:18 p.m.

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Obama to request rise in debt ceiling another $1 Trillion ~ as he plays his 91st round of golf

Here he is, working hard for the American people.

http://weaselzippers.us/2011/12/30/obama-plays-his-91st-round-of-golf/

Standing ready to request the debt ceiling be raised another $1 Plus Trillion.

http://weaselzippers.us/2011/12/30/obama-delaying-request-to-hike-debt-ceiling-by-another-1-2-trillion/

http://www.usdebtclock.org/

Posted:  12.31.11 @ 6:30 a.m.

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Filed under Barack Obama, Financial Crisis, Uncategorized

Federal debt now at $14,999,400,000,000 (update)

The last six numbers are spinning so fast I can’t write them down, so I just rounded it off.

Just since I was writing the headline and the first sentence, the 400 is already 410.

They have to do something before it gets to $15.19 trillion, the current ceiling.  I was supposed to last until January or February of next year.  I thought congress would do a secret Christmas Eve session to raise it, but it’s not going to hold out that long.

http://www.usdebtclock.org/

https://bellalu0.wordpress.com/2011/11/03/u-s-debt-nearing-15-trillion-debt-clock-link/

Update:

The Treasury Department said Wednesday that the federal debt has climbed to a record $15 trillion [-] a staggering figure that caps a precipitous decade-long rise.

The exact total stood at $15,033,607,255,920.32 as of the end of business Tuesday, marking a jump of $56 billion over Monday’s tally. All told, federal debt has risen $4.407 trillion since President Obama took office. 

http://www.washingtontimes.com/news/2011/nov/16/federal-debt-more-15-trillion/

Posted:  11.16.11 @ 12:19 p.m. Update:  11.16.11 @ 9:35 p.m.

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Democrat Senate quietly passes $500 billion lift in debt ceiling

The U.S. Senate, in an unusual procedure, cleared the way Thursday for the U.S. to lift its borrowing authority by $500 billion to $15.19 trillion, enough to keep the support federal government borrowing through late January or early February.

The action came under an unusual legislative procedure spelled out under the August agreement to raise the U.S. debt ceiling and avoid a U.S. credit default. In a 52-45 vote, the Senate blocked an attempt by Republicans to slow down the process that will result in the $500 billion debt-ceiling increase.

http://blogs.wsj.com/washwire/2011/09/08/senate-approves-500-billion-increase-in-borrowing-authority/?mod=google_news_blog

I guess it’s just a coincidence they passed this $500 billion increase yesterday just in time to cover Obama’s $447 billion phoney jobs plan.

http://www.usdebtclock.org/

Posted:  09.09.11 @ 12:04. p.m.

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