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The latest posting from the Treasury Department shows the National Debt has increased over $2 trillion since President Obama took office.
The debt now stands at $12.6 trillion.
And he wants to keep adding trillions to it.
Good God, is his election the biggest mistake America has ever made?
Quote:
In the 2011 federal budget released last month, the administration projects the National Debt will soar ever upward to over $25 trillion in the year 2020. The total debt will amount to more than 100 percent of the national economy as early as 2012.
And just look what we have to look forward to in the future.
And just look what we have to look forward to in the future.
Well it won't be what we could've had. Double digit unemployment with no end in sight. Massive devaluation of homes and foreclosures. Wholesale bank failures with collapse of the FDIC. One, maybe two, auto makers. Collapse of credit with much job security for bankruptcy attorneys. No credibility within the world as a society. Faster degradation of infrastructure with no end in sight. Tens of thousands more Afghans/Iraqis and hundreds more Americans dead. A complete idiot down the hall within spit'n distance of the "button".
On the bright side, less illegal immigration, since minimum wage jobs won't be available. Lower ammo prices since nobody is cry'n how the gubment is coming to git our guns. The big, bad pharmacy companies will be losing money without their conspiratorial paranoiac patients which will drive higher prices on needed drugs like Viagra and Ciallis. Those few of us with jobs will have one rebate check by now and another on the way. And the best of all, no black guy in the Oval Office.
Last edited by theolsarge; 03-17-2010 at 09:29 AM..
Good God, is his election the biggest mistake America has ever made?
And just look what we have to look forward to in the future.
0bama added $220 billion to the debt in February alone.
i remember when a few hundred billion over a few years, and only creating 150,000 new jobs a month was worthy of eviscerating Bush, but 0bama can lose 30,000-100,000 jobs and rack up a few hundred billion in a month, and the dems praise him.
0bama added $220 billion to the debt in February alone.
i remember when a few hundred billion over a few years, and only creating 150,000 new jobs a month was worthy of eviscerating Bush, but 0bama can lose 30,000-100,000 jobs and rack up a few hundred billion in a month, and the dems praise him.
Exactly. The wailing and gnashing of teeth was tremendous....for a deficit of $400 BILLION.
Now, quadruple that deficit and double the debt - no problem at all.
"I walked into office facing a massive deficit, most of which was the result of not paying for two wars, two tax cuts, and an expensive prescription drug program," Mr. Obama said last month in a speech to corporate executives at a Business Roundtable conference. "When we walked in, we had a deficit of $1.3 trillion and projected debt over the course of a decade of $8 trillion," he told the CEOs on February 24th. "The lost revenue from this recession put us in an even deeper hole. And the steps we took to save the economy from depression last year have necessarily added to the deficit -- about $1 trillion, compared to the $8 trillion that we inherited."
Good point.
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And the best of all, no black guy in the Oval Office. 
