National Debt about to hit $16 trillion by the end of week

[FAH1223]

Since Obama took office on Jan. 20, 2009, the debt has increased $5,349,641,980,231.06. That is as much as the entire debt accumulated by the United States from the founding of the country in 1776 until Feb. 28, 1997, when President Bill Clinton was in his second term.

Thus, under Obama, the debt has increased more than under all presidents from George Washington through George H.W. Bush combined.

During President George W. Bush’s two terms in office, the debt increased $4,899,100,310,608.44. That is also more than all the debt accumulated by all previous presidents from George Washington through George H.W. Bush combined.

Nonetheless, the $5,349,641,980,231.06 in new debt accumulated in less than four years under Obama is more than the $4,899,100,310,608.44 in new debt accumulated in eight full years under George W. Bush.



According to data reported by the IRS earlier this year, there were 81,890,189 tax returns filed for 2009 that showed taxable income. That means the total debt of the United States now equals $195,096.86 for each 2009 federal taxpayer.

U.S. Debt On Track to Hit $16 Trillion Within Week | CNSNews.com

 

[zerozero]

 

[OG_StankBrefs]

nikkas really stupid if dey thought Obama was gonna be able to undo all dat bullshyt in fukkn 4 years.

 

[88m3]

That's what's up


Big money

 

[Robbie3000]

We need to get people back working so we can start collecting revenue. To that end, I don't mind the government borrowing and spending to create a stimulus effect or keep people employed in these tough times. The rates are at the lowest they have ever been so the costs usually associated with Federal government borrowing are not really there at this time.

In the long term, I would like to see an end to most of the Bush tax cuts and heavily reduced spending on the military. Plus sensible cuts to government discretionary spending.

 

[Mowgli]

We need to get people back working so we can start collecting revenue. To that end, I don't mind the government borrowing and spending to create a stimulus effect or keep people employed in these tough times. The rates are at the lowest they have ever been so the costs usually associated with Federal government borrowing are not really there at this time.

In the long term, I would like to see an end to most of the Bush tax cuts and heavily reduced spending on the military. Plus sensible cuts to government discretionary spending.

Instead maybe we'll just see a great economic collapse and i can come to your house and steal your water.

 

[Real Talk of NY]

hold up, didnt Clinton leave office with a surplus? And if debt is 16 tril, and Obama racked up 5+, then Bush racked up 11. What am I missing?

 

[FAH1223]

hold up, didnt Clinton leave office with a surplus? And if debt is 16 tril, and Obama racked up 5+, then Bush racked up 11. What am I missing?

The debt went up during Clinton

Bill Clinton got the so called "Surplus" by adding what the Government was taking in for Social Security and subtracting that large amount from the debt.

 

[Broke Wave]

The debt went up during Clinton

Bill Clinton got the so called "Surplus" by adding what the Government was taking in for Social Security and subtracting that large amount from the debt.

Not true. Clinton fixed the budget issue and was actually left with a budget surplus. What the government takes in for SS actually goes into Gov't bonds, not a separate "fund" called the Social Security account or whatever, so that money is guaranteed to the American people no matter what. The Government spent less than it took in period.

 

[BamdaDon]

nikkas really stupid if dey thought Obama was really trying to undo all dat bullshyt in fukkn 4 years.

fixed

 

[FAH1223]

Not true. Clinton fixed the budget issue and was actually left with a budget surplus. What the government takes in for SS actually goes into Gov't bonds, not a separate "fund" called the Social Security account or whatever, so that money is guaranteed to the American people no matter what. The Government spent less than it took in period.

breh, just go to the treasury website. the deficit went up during Clinton

 

[Broke Wave]

breh, just go to the treasury website. the deficit went up during Clinton

 

[Serious]

Military aircraft will soon be quieter

That's what's up


Big money

of course. We all know the federal government has money to blow

[ame="http://www.youtube.com/watch?v=NjNBC4mC5y4"]Birdman - Money To Blow ft. Lil Wayne, Drake - YouTube[/ame]

 

[FAH1223]

thats the budget not the deficit

FY        Year Ending  National Debt     Deficit 
FY1994  09/30/1994  $4.692749 trillion  $281.26 billion 
FY1995  09/29/1995  $4.973982 trillion  $281.23 billion 
FY1996  09/30/1996  $5.224810 trillion  $250.83 billion 
FY1997  09/30/1997  $5.413146 trillion  $188.34 billion 
FY1998  09/30/1998  $5.526193 trillion  $113.05 billion 
FY1999  09/30/1999  $5.656270 trillion  $130.08 billion 
FY2000  09/29/2000  $5.674178 trillion  $17.91 billion 
FY2001  09/28/2001  $5.807463 trillion  $133.29 billion

Debt to the Penny (Daily History Search Application)

Debt went up every yr

 

[Broke Wave]

thats the budget not the deficit

FY        Year Ending  National Debt     Deficit 
FY1994  09/30/1994  $4.692749 trillion  $281.26 billion 
FY1995  09/29/1995  $4.973982 trillion  $281.23 billion 
FY1996  09/30/1996  $5.224810 trillion  $250.83 billion 
FY1997  09/30/1997  $5.413146 trillion  $188.34 billion 
FY1998  09/30/1998  $5.526193 trillion  $113.05 billion 
FY1999  09/30/1999  $5.656270 trillion  $130.08 billion 
FY2000  09/29/2000  $5.674178 trillion  $17.91 billion 
FY2001  09/28/2001  $5.807463 trillion  $133.29 billion

Debt to the Penny (Daily History Search Application)

Debt went up every yr

That doesn't include the extra revenue to social security with the payroll tax ... do u make this so difficult