White House spokesman Jay Carney told Jake Tapper today that the White House has no opinion on whether or not the Senate passes a budget. TAPPER: The White House has no opinion about whether or not the Senate should pass a budget? The president’s going to introduce one. The Fed chair says not having...
There aren’t many groups out there that are more pro-Obama than the Center for American Progress. So it’s remarkable that even they are blaming President Obama for 65% of the deficit problem. I presume they did everything possible to fudge the numbers to make their guy look good. Most of the soaring $1 trillion...
The Congressional Budget Office predicts that the federal budget deficit will be more than $1 trillion per year for the next five years. Seeing that it’s a CBO prediction, expect it to be much worse. Politico has the details. The government faces a fourth year of trillion-plus deficits in 2012, according to new projections...
Remember when then-Senator and candidate Barack Obama called George Bush irresponsible and unpatriotic for raising the debt ceiling? Well, he’s singing a different tune now that the national debt was raised to $16.4 trillion! By election day in November, that will mean every man, woman and child owes $50,000 toward the national debt. Keep...
Hey, remember when $1 trillion was incomprehensible? Now it’s a rounding error. Bankrupting America produced this video with clips of presidential State of the Union addresses since the 1980′s. The message is simple: “America’s debt today: $15 trillion. Stop the rhetoric. Stop the empty promises. Cut the spending. It’s time to act. Stop pushing...
Here’s video of then Senator Obama at a campaign event sounding all fiscally conservative and complaining about the national debt. He called President Bush “irresponsible” and “unpatriotic” for raising the national debt by $4 trillion in eight years. Obama’s on track to tack on another $6.2 trillion in under four years, so who is...
The debt ceiling dog and pony show continues. President Obama has sent a letter to Speaker Boehner asking for another $1.2 trillion in borrowing power because there are no spending cuts (other than defense) he’ll agree to. Seeing that the Republicans agreed to this months ago, their protestations ring a little hollow. President Obama...
The US debt is now as big as the entire US economy. Seeing that the level of debt grows at an alarming rate, while economic growth is nearly stagnant, how long will it be until the national debt eclipses the economy? The amount of money the federal government owes to its creditors, combined with...
$15,222,940,045,451.09 is quite a number. That’s the official US national debt as 2011 came to a close. It’s not as bad as the trillions in under-funded public employee pension obligations, but it’s still bad. President Obama certainly is historic. Tyler Durden put the figure into perspective. US debt to GDP is now officially over 100%, or...
If you thought the $16 trillion national debt was bad, you may want to take a seat. For years politicians have been making promises to public employee unions that you and I (and future generations) are expected to keep. It’s a pretty hefty tab – in total it’s about $45 trillion, or $424,500 per...
Does this guy even realize that this will do to the Nation? The approval is expected to go through without a challenge, given that Congress is in recess until later in January and the request is in line with an agreement to keep the U.S. government funded into 2013. The debt is projected to...
If you thought we’d have a respite from this big spending, debt accruing president while he vacations in Hawaii, think again. According to Reuters, President Obama is going to ask Congress for another big hike in the debt ceiling by the end of the week. The White House plans to ask Congress by the...
I get so caught up in the news of each day, I often forget to remind people how we got here. Thanks to reader AWM for this comment – a little lesson in recent economic and political history. He received this in an email, the source is unknown. “This is just a History lesson....
Rep. Jeff Landry (R-LA) was on Fox News this morning to talk about the payroll tax cut extension, and he asked “When will this madness end?” It’s a good question. The national debt tops $15.1 trillion, and we’re now increasing the deficit yet again, while taking away funding for Social Security, an entitlement that...
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