Obama on Pace to Borrow $6.2T in One Term

[myrobbins7]

Obama on Pace to Borrow $6.2T in One Term

President Barack Obama has been increasing the national debt during his presidency by an average of $4.24 billion per day ($4,240,506,004.34) putting him on a pace to increase the national debt by $6.2 trillion ($6,195,379,272,340.74) by the end of his term on Jan. 20, 2013, according to the debt figures published by the U.S. Treasury.

Can we spend some $$$$ or what!? "Yes We Can"!

 

[UGADawg4Life]

Obama on Pace to Borrow $6.2T in One Term

President Barack Obama has been increasing the national debt during his presidency by an average of $4.24 billion per day ($4,240,506,004.34) putting him on a pace to increase the national debt by $6.2 trillion ($6,195,379,272,340.74) by the end of his term on Jan. 20, 2013, according to the debt figures published by the U.S. Treasury.

Can we spend some $$$$ or what!? "Yes We Can"!

The President doesn't borrow, Congress does.

 

[myrobbins7]

The President doesn't borrow, Congress does.

Who spends it?

 

[n_huffhines]

The president is the executive. He can't 100% originate a bill, but he can shape them, and accept/reject them. He has a lot of power with the veto. This is why a RP administration would be a success, even if he can't get anything passed. He would just veto all spending for basically 4 years.

 

[n_huffhines]

And let me just say that $6.2 trillion would absolutely not be possible without a federal reserve. I don't know why people are so afraid of a fixed money supply. The federal reserve will be the death of us.

 

[theFallGuy]

You guys aren't taking into account that this money spending is helping our economy.

Shovel ready jobs brah!

 

[n_huffhines]

A lot of Obama's spending hasn't actually gone into effect, yet. That way when he's campaigning he can claim to have pushed all these programs and at the same time the spending figures can be manipulated.

 

[rjd970]

Nvm

 

[Gramps]

The debt ceiling is not a R or D problem.
It is a R and D problem.
Since 1980 the debt ceiling has been growing out of control. Since 2002 it has skyrocketed.
This is not going to get solved unless both sides sit down and agree on a solution and stick with it. The GOP partisans will claim the Dem's will not negotiate in good faith. The Dem partisians will claim The GOP will not negotiate in good faith. The truth is neither side will negotiate in good faith. Neither side will put their differences aside and do what is right for the United States.

The below chart (1980-2010) shows one side of the aisle is as bad as the other.
I pray that in the 2012 elections we elect people who are willing to put politics aside and do something to solve this problem. I do not see that happening, people will continue to vote simply for a candidate just because a D or R is following their name and the debt will continue to grow.

 

[gsvol]