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.

STORY SOURCE

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...

 

http://www.washingtonexaminer.com

U.S. Government Shutdown Ends But Skepticism Continues Among Workers And Political Pundits (Video)

The U.S. Congress has finally reached a deal to end the federal government shutdown plaguing the nation. Many employees of the federal government were placed on furlough and have not been paid this month, anxiously sitting at home wondering when they will be able to return to work.

It is being reported federal workers will be paid by October 29, 2013, which is good, as they will be able to catch up on any delinquent bills that occurred due the shutdown. The whole fiasco created economic damage to the United States and caused international creditors to publicly question whether the government would be able to meet its financial obligations at home and abroad.

What is concerning many is the latest deal is only a temporary fix to fund the government for the next three months. The deal brokered in Congress also raises the debt ceiling for the next 4-months. This has created skepticism, as it means another shutdown could happen. However, let's hope the horrible publicity Congress received along with a sound bashing in the polls, will serve as incentive for lawmakers to strike a balanced, lasting deal that will stop this from transpiring again in the New Year.

Congress In Trouble As 60% Of Americans Want Them Voted Out And Fired Over Government Shutdown

Head of the Republican Party, Senator John Boehner and leader of the Democrat Party, President Barack Obama

An NBC poll reveals 60% of Americans want every member of Congress voted out, fired for the current federal government shutdown. Their inability to address national debt, budget deficits and ObamaCare, among other things, all while consistently voting for and approving salary increases for themselves, is not sitting well with the public.

Congress

Once again, they need to end the shutdown. Government workers who are currently not being paid have mortgages, car payments, gas, utility and food costs to pay for and need their money. Non-payment of bills such as mortgages and car payments will also damage their credit reports and put them in danger of default (foreclosure, repossession). This is not the time for politicians to be playing chicken.

STORY SOURCE

NBC/WSJ poll: 60 percent say fire every member of Congress

Throw the bums out. That’s the message 60 percent of Americans are sending to Washington in a new NBC News/Wall Street Journal poll, saying if they had the chance to vote to defeat and replace every single member of Congress, including their own representative, they would. Just 35 percent say they would not.

According to the latest NBC/WSJ poll, the shutdown has been a political disaster. One in three say the shutdown has directly impacted their lives, and 65 percent say the shutdown is doing quite a bit of harm to the economy. NBC's Chuck Todd reports.

http://firstread.nbcnews.com

Barack Obama And Congress Are Fighting Over The Debt Ceiling

Barack Obama

U.S. President Barack Obama has a new battle on his hands. Fresh off the fiscal cliff fight, the new battle concerns the debt ceiling. America is eyeball deep in debt, with select members of Congress fighting to keep the people's purse strings closed, due to mounting debt in the trillions. However, President Obama contends, America is not a "deadbeat" nations and pays its bills and in order to do so, the debt ceiling needs to be raised. Obama wants Congress to loosen the purse strings again. Round two, guys!

Obama Seeking Financial Advice Anywhere He Can Get It But Is He Talking To The Right People

Barack Obama

U.S. President Barack Obama is in search of business advisers to help him address the significant problems occurring in the economy. Obama indicated he shunned this action during his first term as president, but it is now something he is "considering." 

Obama complained he had difficulty "recruiting business leaders into the administration" due to the confirmation process. However, there are other issues to consider. If one gets executives who are still in Wall Street's pocket, that will not help middle class and lower income people struggling to get back on their feet during the financial crisis.

STORY SOURCE

Obama Says Confirmation Process Hurts Choosing Business Leaders

Report: Global Economy Recovering But The U.S. Is Struggling

Barack Obama

The Washington Post published an article this week titled, "The global economy isn't falling apart. The U.S. might be." The piece indicated the global economy, particularly the manufacturing sectors of the world, have stabilized, except in the United States. 

The article further reported, China's "manufacturing sector expanded" and Europe has risen as well. However U.S. data indicates a decline. Something is very wrong. This should not be happening. The Obama Administration does not have a grip on the financial crisis, started by predecessor George Bush's unwise choices while he was in office. 

However, as Obama goes along, the damage incurred during his term will be attributed to him. The mere fact other nation's are climbing out of the crisis and America is not is another of many indicators the government is going in the wrong direction. 

STORY SOURCE

The global economy isn’t falling apart. The U.S. might be.

Can America Afford Another Term Of President Barack Obama And What Would It Mean For Your Wallet

 

Obama's campaign slogan could honestly be "Raising the deficit $5 trillion at a time"

 

Recent economic data has revealed poverty has hit a 45-year high in America. Lower income and middle class families are feeling the financial pinch that is more like a devastating economic punch. This means in modern times, Americans have never been so financially poor.

 

 

Barack's bat economics doesn't work

 

Come this November, Americans have a choice to make. Will they continue another four years with President Barack Obama, whose time in office has been plagued with financial failure, brought on by his extraordinary, record overspending, in the amount of $5 trillion or will they take a chance on multi-millionaire businessman, Mitt Romney, who has 40-years experience in the business world and used it to amass a $250,000,000 fortune and create jobs.

 

 

Mitt Romney

 

The people have seen what President Obama has to offer over the last four years and regrettably, the lack of austerity and unruly spending, which the Judiciary Report explicitly warned against when he took office, has placed America further in debt than it has ever been, even surpassing the Great Depression on many levels. Unemployment, foreclosures and business closures are up. Does America need four more years of that. Can the American people's families and wallets afford four more years of that.

 

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Artificial Growth - Part 2

How Will Obama Pay Back The $5 Trillion In Debt He Has Added To The U.S. Deficit

Barack Obama

Being President of the United States of America comes with many responsibilities, such as setting the political agenda for the country and determining aspects of the national budget. As has been widely reported, U.S. President Barack Obama added $5 trillion dollars to America's national deficit, with wild spending that has not panned out or fixed the economic crisis.

The question remains, how will President Obama repay the $5 trillion dollars. His proposals for doing so, have been met with sharp criticism by the Congressional Budget Office (CBO) and economists alike, stating his plans do not add up and will not reduce the deficit. It was so easy to spend that money, but paying it back is another story via a debt Americans will be saddled with for generations.

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The $5 Trillion Dollar President (Why It Was Not A Good Idea For President Barack Obama To Spend That Much Money)

Two big spenders, former President George W. Bush and current President Barack Obama 

U.S. President Barack Obama has added $5 trillion to the national deficit in America. The president's supporters often defend everything he does, which is not a good idea, as his administration needs a healthy dose of criticism, because it is about to hit a wall head on. 

To have spent that significant sum of money was to weaken and deteriorate the U.S. economy and currency in the world. It also means having gone down in world history as the president that spent the most money in United States history, which is a dubious distinction. Presidencies are supposed to be about wise governance, restraint, productivity and efficiency. How is the nation going to repay that massive debt, which has the government greatly indebted to foreign countries.

Some keep emphasizing the point that there are those out there who believe former President George W. Bush did more damage to the U.S. economy than President Barack Obama. In some ways, yes. In other ways, no. Bush initiated the damage and negligently tried to cover it up, wasting valuable time that allowed the crisis to morph and mushroom. However, Obama has unadvisedly spent $5 trillion trying to fix it, making the crisis exponentially worse. 

Furthermore, Obama is not running against Bush in this year's presidential election. Obama is running against Mitt Romney, a successful, wealthy businessman that has years of governing experience from his time as Governor of Massachusetts. Having written that, the next president is going to have a very tough time trying to reduce the deficit after what the Obama Administration has done to it. It is mind-boggling how much money Obama has spent. Future generations will ask, why didn't Congress stop him before it reached said terrible figure. 

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Poll: Obama Will Lose The 2012 Election By A Landslide

President Barack Obama Still Lagging In The Polls Behind Mitt Romney

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Barack Obama In Over His Head With The Economy And In Need Of Help

Barack Obama

Dismal economic numbers indicates, U.S. President Barack Obama is in over his head and headed for a one term presidency. Some of it has to do with the company he keeps. If he had spent more time with business gurus such as Warren Buffett and less time with Hollywood celebrities, the economy would be in a much better state. Obama's preoccupation with Hollywood is costing the nation plenty. 

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President Obama Abandoned The Buffett Rule Regarding Taxing The Rich

What This Will Mean For The Economy

First Lady Michelle Obama and President Barack Obama

Forbes magazine did a write up on President Obama abandoning the Buffet rule, named after billionaire Warren Buffett, regarding rich people not paying enough taxes in America. President Obama's budget made public this month, contains no such rule, which means less revenues for the treasury to create jobs for the unemployed in America and pay down the massive national deficit. Obama flinched at the last minute, bowing to the rich, when America needs the tax revenue. His new budget is more of the same, which has been unsuccessful for three years.

If I were a head of state, under current economic conditions, as I have maintained in articles for years, I'd raise taxes on the rich. My attitude would be: *rolls eyes* what are they really going to do to me - besides that's what they make bullet proof vests for. Everyday I'd also say to my bodyguards, "We're not married, why are you walking beside and not in front of me - because if they shoot me, I'm going to shoot you. It's easy to remember, if I get shot, you get shot."

STORY SOURCE

Where Did the Buffett Rule Go?

2/15/2012 @ 5:12PM - In last month’s State of the Union address, President Barack Obama endorsed a so-called “Buffett Rule”: an additional alternative minimum tax that would ensure that people making over $1 million would pay at least a 30 percent tax rate. So it comes as some surprise that the President’s budget, released this week, doesn’t contain a Buffett Rule.

In the written budget narrative, Obama lays out broad principles for tax reform, including a call for the Buffett Rule. Other items in that narrative include lower tax rates with fewer deductions and exclusions, making tax incentives more progressive, and “fundamental corporate tax reform.” But none of those proposals are actually scored in the budget tables—while Obama is saying they would be a good idea, he is not proposing them for Fiscal Year 2013. Instead, the White House’s proposals for new revenue are a rehash of what it has proposed in the past...

http://www.forbes.com

Financial Experts State The U.S. Economy Is Permanently Damaged

Sustained Economic Deterioration Caused Lasting Damage

Barack Obama

U.S. President Obama has been unable to fix the U.S. economy, which is burdened with stubbornly high unemployment, millions of foreclosures, significantly decreased property values and many shuttered businesses. This month, international experts are now of the belief the U.S. economy will not recover to what it once was, as the damage is so widespread and has persisted for four years, creating a last effect. Experts from Canada (Bank of Canada Governor Mark Carney) and Europe have gone on record voicing these opinions this month.

The Judiciary Report stated the same previously: Ben Bernake Didn't See The Financial Crisis Coming and Wall Street Protesters March Outside The Home Of Greedy CEOs.

The irony is the problems could have been corrected, but Obama’s wasteful spending aided banks and corporate titans, who have hoarded and hidden taxpayer bailout money, rendering it useless to the U.S. economy. However, it has stimulated the off shore banking sectors of foreign economies using the funds to make more money.

President Obama is in bed with Wall Street and the corporate sector, in a manner that has given them free reign to do as they please, which is what caused the crisis in the first place under former President Bush. Rather than taking to task offenders in the corporate sector, President Obama has enriched them with hundreds of billions of dollars in taxpayer money and no ground rules regarding gouging and theft, allowing them to get away with murder against the populace.

It has caused the failure of his presidency and if polls are any indication, he shall not have a second term to correct his damaged legacy in the history books, something his family will have to live with. It is extraordinary what Obama has looked the other way to and the terrible damage it has caused America and the world.

The corporate sector does have the ability to lavish massive campaign donations on Obama, to pay for many commercials and internet ads. However, there aren’t enough people in the corporate sector to get him reelected, under the anger and disappointment of an abused and offended nation of 305,000,000 people, who have lost so much during his tenure.

President Obama's deeds have shown he is not for the working class and the poor, but his filthy rich campaign donors. Under Obama the rich have gotten richer and the poor have gotten poorer. This must stop if America is to have a bright future.

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U.S. Credit Rating Downgraded For The First Time In History

A Precedent The President Could Have Done Without

Barack Obama

Standard And Poors (S&P) has downgraded America's once sterling AAA credit rating to an AA+ in news not welcomed by U.S. President Barack Obama and his administration. The $2.4 trillion increase to the U.S. debt ceiling is partly to blame for this historic decision, coupled with no proper tax increases or significant government budget cuts.

It was not a good precedent for President Obama to set. Had Obama simply done what the Judiciary Report has stated for the past couple years - raise taxes on the rich - this would not have happened, as the revenue streams would have begun already and exhibited clear and undeniable intent to reduce the deficit. What's worse is S&P has reserved the option to decrease America's credit rating even further.

Some have tried to spin this news and they should not. Delusion and denial is what created this problem in the first place, in not facing reality and taking positive, proactive action to address the nation's debt. To spin this negative, is the equivalent of a student bringing home a B grade, when they could have received an A had they applied themselves and trying to convince their parents the former is better than the latter.

Congress and the White House have gone out of their way to protect the rich, at the expense of the middle class and the poor. They would do well to remember, there are more middle class and poor in America, than rich, which means more votes to remove politicians from office and replace them with others.

Enough with the tax cuts for the rich, as it is damaging the nation in so many ways. It's time to raise taxes on the rich - a proven, time tested method of bringing in revenues to cash strapped governments. It won't make the rich poor, but they'll have a little less and it will help clean up the financial mess.

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$2.4 Trillion Increase In U.S. Debt Ceiling Passes In Congress

One Day Ahead Of Schedule, But The Benefits Are Negligible

The U.S. Congress has passed a bill raising the debt ceiling by by $2.4 trillion dollars, to avoid the nation defaulting on its many debts. The proposed spending cuts, to take place over 10 years, not to commence until 2013, are weak and insufficient to tackle the national debt. There is also the very high probability the government will spend even more money, via miscellaneous and emergency costs, that will completely derail the entire budget.

The bill is not particularly helpful to the U.S. economy, makes paltry cuts in government spending that will have no real impact on the deficit and lacks the tax increase on the rich, necessary to help financially pull America back in the black.

U.S. President Barack Obama (right) and Vice President Joe Biden (left)

The economic numbers are in for July 2011 and they do not look good. Job creation is going at a very poor pace, leaving 14,000,000 Americans unemployed. U.S. Senator Bernie Sanders insists unemployment is actually at "16 percent" not "10 percent." There was next to no growth in the U.S. manufacturing sector, which is bad, as the nation needs exports as one of several key revenue sources.

As mentioned above, another key revenue stream that is missing from the bill, is tax increases on the nation's wealthiest citizens. It's only fair, if the rich are going to live in America, they should help clean up the financial mess Wall Street's greed spree made on their behalf and that of their bulging bank accounts.

Sensible cuts to the government's budget would have made a great impact, such as closing a number of U.S. bases abroad, selling the land/buildings and equipment to the host countries, saving the nation billions in upkeep costs per year. The defense budget is too big, yet as we have seen repeatedly, terrorists can get into America if they want to and engage in evil acts that need to desist.

President Obama and members of his administration

Therefore, you may as well close many of the bases and bring the U.S. citizens back to America. It is cheaper than keeping them open, which is causing further offense in a number of places in the world. It also seems the cuts in the current bill target the poor and middle class, which is a bad idea. How did Congress get it so wrong again.

For the aforementioned reasonable reasons, the Judiciary Report is not in favor of the bill that was just passed in the U.S. Congress. Any sensible person with moderate views and a grip on reality will realize, it is not going to work and after all that wrangling and arguing it sad that this is all they came up with.

STORY SOURCE

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Obama's Poll Numbers Implode Into Disaster

Reelection Not Looking Likely

Barack Obama

U.S. President Barack Obama is having a hard time in the polls. Numbers in every area of polling indicate, the American people are fed up with the debt ceiling debacle and the economy in general. There has been no recovery in the U.S. economy, only massive spending that is drying up and revealing all the cracks and flaws the government tried to camouflage.

But wait, Obama isn't the only one on the hot seat. The U.S. Congress saw its poll numbers drop to an all time low, with approval rating sitting at an uncomfortable 6 percent and it is deserved. They have passed ludicrous spending bills and can't, excuse me, won't even agree on a plan for the debt ceiling, by taking the best parts of both political parties' proposals and merging them into one bill, for the good of the nation.

President Obama and members of Congress debating the debt ceiling

U.S. House Speaker and Republican, John Boehner, has accused Obama of caring more about reelection, than resolving the debt ceiling crisis that is gripping the nation. The clock is ticking and in less than a week, if no decision is reached, America will default on its debts. According to the Los Angeles Times, Obama's own Democrats are abandoning him on this issue, as they have been pushed to the point of anger.

STORY SOURCE

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U.S. Debt Deal Dead

Barack Obama

Published reports indicate congressional Senator, John Boehner, has walked away from the debt ceiling debate, against President Barack Obama, exasperated that they have been unable to come to a final agreement. There is talk that Obama's own Democrats are angry with him over the lack of progress. The press and public had hoped the issue was almost resolved, but the latest on the negotiations illustrate otherwise.

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Republicans Develop Economic Plan And Await Response From Obama

"Video: Speaker Boehner: Time for the No-Budget Senate to Act on Cut, Cap & Balance"

Prominent Republican senator, John Boehner, took to the podium today, to announce the Republican party has developed a financial plan for America, but await a response from U.S. President, Barack Obama, regarding the course of action he intends to take. The clock is winding down to the August default deadline, in the debt ceiling debacle Congress is currently presiding over.

Barack Obama

The regrettable fact regarding the congressional fighting, excuse me, debates, is neither side has been able to take the better ideas from each party and merge them into one proper solution. Overall, the Republican party has the better, more prudent economic plan save for the no taxes clause, which, frankly, is a problem.

John Boehner

The Democrats' financial plan has too much spending, but its true redeeming factor is the tax increase on the rich, which would make a big difference (provided the money isn't squandered by too much spending again). Really, is it that hard to compromise with each other. Even the government had to admit this week that the talks have become unusual and strangely stalled, in comparison to past negotiations. Something is wrong.

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