Saturday, November 7, 2015

Obama Sends American National Debt Up $339 Billion Dollars In One Day

Who Is Going To Pay For All That

Barack Obama

This is a continuation of the article "Obama Doubled America's National Debt To Unsustainable Levels." This past Monday, U.S. President, Barack Obama, sent the national debt up by $339 billion dollars in one day. This unwise financial spending is going to further damage the U.S. economy. Where other nations have turned to austerity (for a time) and seen financial turnarounds for the better, the Obama Administration is inexplicably spending America into a massive financial hole.

The economy has not recovered from the George W. Bush years and the 2008 financial crisis that caused widespread damage. It would have been more prudent to make cuts, not go on a 7-year spending spree. I am still of the belief 1+1=2. Math when done correctly works. To disregard and discount established economic precedent, regarding world governments and global nations, in favor of fluke, flaky spending on unnecessary items, is to financially imperil a country and put it at a disadvantage.


Debt ceiling lifted, and the same day, debt jumps $339B

11/3/15 4:25 PM - The U.S. national debt jumped $339 billion on Monday, the same day President Obama signed into law legislation suspending the debt ceiling. That legislation allowed the government to borrow as much as it wants above the $18.1 trillion debt ceiling that had been in place. The website that reports the exact tally of the debt said the U.S. government owed $18.153 trillion last Friday, and said that number surged to $18.492 on Monday.

The increase reflects an increasingly common pattern that can be seen in the total U.S. debt level when the debt ceiling is reached. At the end of 2012, for example, the government hit the debt ceiling, and the Treasury Department was forced to use "extraordinary measures" to keep the government afloat until the ceiling could be increased again. Those measures included decisions to delay issuances of certain debt instruments...