#1 U.S. National Debt Soars to $18 Trillion Under Obama by Eglman 01.12.2014 19:00

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The U.S. national debt hit $18 trillion for the first time on Friday, according to the U.S. Treasury Department.

The milestone is likely to renew Republican scrutiny over the federal government’s spending habits, just as the GOP is set to widen its majority in the House and resume control of the Senate in 2015. While Republicans have made a point of saying they would use their new control of Congress to fight Obamacare and ease federal regulations, they have also made a point of saying debt reduction is critical.

House Speaker John Boehner (R-Ohio) and incoming Senate Majority Leader Mitch McConnell (R-Ky.) said Congress must take steps to pare back “a national debt that has Americans stealing from their children and grandchildren, robbing them of benefits that they will never see and leaving them with burdens that will be nearly impossible to repay.”

The national debt has soared nearly 70 percent under President Barack Obama. When he took office, it stood at $10.626 trillion, and it’s risen nearly $7.5 trillion under Obama.

SNIP-

Read more:http://www.theblaze.com/stories/2014/12/...ion-under-obama

#2 RE: U.S. National Debt Soars to $18 Trillion Under Obama by ThirstyMan 01.12.2014 21:16

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"The national debt has soared nearly 70 percent under President Barack Obama. When he took office, it stood at $10.626 trillion, and it’s risen nearly $7.5 trillion under Obama."

Well it's clear that he will skate out of office having accomplished nothing economically. We simply whistled our way past the cemetery during his shift as President.

#3 RE: U.S. National Debt Soars to $18 Trillion Under Obama by Cyber Liberty 01.12.2014 21:45

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That a lot of increases in the debt limit. I wonder how that happened?

#4 RE: U.S. National Debt Soars to $18 Trillion Under Obama by Frank Cannon 02.12.2014 00:52

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This isn't a big deal. Since the Fed devalued the dollar so much, this $18 Trill is the equivalent of $438.76 in 2010 dollars.

#5 RE: U.S. National Debt Soars to $18 Trillion Under Obama by ThirstyMan 02.12.2014 10:01

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Quote: Frank Cannon wrote in post #4
This isn't a big deal. Since the Fed devalued the dollar so much, this $18 Trill is the equivalent of $438.76 in 2010 dollars.


Well, OK, that's better then!


#6 RE: U.S. National Debt Soars to $18 Trillion Under Obama by algernonpj 03.12.2014 15:59

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Quote: ThirstyMan wrote in post #5
Quote: Frank Cannon wrote in post #4
This isn't a big deal. Since the Fed devalued the dollar so much, this $18 Trill is the equivalent of $438.76 in 2010 dollars.


Well, OK, that's better then!




Its even better if you value it in 1913 dollars - probably 18 cents in 1913 dollars.

#7 RE: U.S. National Debt Soars to $18 Trillion Under Obama by Rev 03.12.2014 21:07

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This doesn’t count unfunded liabilities like Social Security, Medicare, and W’s brilliant prescription drug entitlement. The actual debt is much higher.

While the media keeps us distracted with circuses, the Cloward–Piven strategy has been thrown into overdrive.

We will never pay off this debt. Neither will our children or grandchildren. When that fact sinks in, the house of cards comes down, and Obama et al. can move to the next phase: replacing the current quasi-socialist crony capitalist system with straightforward totalitarian communism.

http://moonbattery.com/

#8 RE: U.S. National Debt Soars to $18 Trillion Under Obama by Sanguine 03.12.2014 21:47

Quote: Rev wrote in post #7


This doesn’t count unfunded liabilities like Social Security, Medicare, and W’s brilliant prescription drug entitlement. The actual debt is much higher.

While the media keeps us distracted with circuses, the Cloward–Piven strategy has been thrown into overdrive.

We will never pay off this debt. Neither will our children or grandchildren. When that fact sinks in, the house of cards comes down, and Obama et al. can move to the next phase: replacing the current quasi-socialist crony capitalist system with straightforward totalitarian communism.

http://moonbattery.com/


I don't have a good understanding of what this will mean. We just don't have historical examples to draw from. Well, maybe a few, and they were all pretty horrible.

#9 RE: U.S. National Debt Soars to $18 Trillion Under Obama by Cyber Liberty 03.12.2014 22:12

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Quote: Sanguine wrote in post #8
Quote: Rev wrote in post #7


This doesn’t count unfunded liabilities like Social Security, Medicare, and W’s brilliant prescription drug entitlement. The actual debt is much higher.

While the media keeps us distracted with circuses, the Cloward–Piven strategy has been thrown into overdrive.

We will never pay off this debt. Neither will our children or grandchildren. When that fact sinks in, the house of cards comes down, and Obama et al. can move to the next phase: replacing the current quasi-socialist crony capitalist system with straightforward totalitarian communism.

http://moonbattery.com/


I don't have a good understanding of what this will mean. We just don't have historical examples to draw from. Well, maybe a few, and they were all pretty horrible.



Generally, countries that get too deep in debt to other countries go to war with those countries in an effort to obviate the debt. It's probably why Saddam Hussein invaded Kuwait.

#10 RE: U.S. National Debt Soars to $18 Trillion Under Obama by FWP 04.12.2014 00:33

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Quote: Cyber Liberty wrote in post #3
That a lot of increases in the debt limit. I wonder how that happened?


If you remember, since 0bama was elected, they had a couple of Kabuki standoffs over raising the debt ceiling.

Then, someone hatched this "great" idea that has been in effect over the past several years: they don't bother to argue about raising it, they pass bills saying that for N period of time, we are "suspending" the existence of a debt limit. So what they have essentially done is to pretend that we don't really have a debt limit. If it wasn't so tragic it would be comical in its absurdity.

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