Thursday, August 23, 2012

U.S. Government Hits Record $5.2923 Trillion Foreign Debt Under President Obama

Barack Obama

CNS News is reporting, "In May, the U.S. Treasury had owed $5.2581 trillion to foreign entities. On net, in June, the U.S. government borrowed an additional $34.2 billion from foreign entities in order to fund U.S. government operations."

This should clear up any doubt in Americans minds that the U.S. Government is bankrupt and cannot continue on the dangerous spending spree it has undertaken. As stated previously, former President, Bill Clinton, left America in solid financial state.


Mitt Romney

However, Clinton's two successors, former President George W. Bush and incumbent, Barack Obama, have spent America into a terrible financial hole of debt, which will saddle future generations of Americans. The Bush and Obama presidencies doubled the national deficit and blew the substantial lead America had in the world.

American voters will have a choice to make at the polls this November. Risk another four years of unruly spending and mounting debt or give another candidate a try at resolving the nation's financial problems that have overtaken all the other issues threatening to destroy the country. The choice is yours.