Obama Administration US Debt


Stunning, simply stunning that in such a short time in office, he’s managed to place three more trillion around the neck of the average US taxpayer. KGS

It’s Official: Obama Has Now Borrowed $3 Trillion

(CNSNews.com) – It’s official: The Obama administration has now borrowed $3 trillion, according to the U.S. Treasury Department.
It took from 1776, when the United States became an independent country, until 1990, the year after the Berlin Wall fell signaling victory in the Cold War, for the federal government to accumulate a total of $3 trillion in debt, according to the Treasury Department. It only took from Jan. 20, 2009, the day President Barack Obama was inaugurated, until Oct. 15, 2010, for the Obama administration toadd $3 trillion to the federal debt.
The overall debt of the federal government, according to the Treasury Department, is now $13.666 trillion.
Each business day, in the afternoon, the Treasury Department’s Bureau of the Public Debt publishes the exact amount—to the penny–of total federal debt as of the close of the previous business day.
At the close of business on Jan. 20, 2009, according to the bureau, the total debt of the federal government was $10,626,877,048,913.08. On Oct. 15, 2010, the federal government borrowed an additional $58,979,549,154.06, bringing the total federal debt at the close of Friday’s business day to $13,665,926,643,255.96—an increase of $3,039,049,594,342.88 since President Obama’s inauguration.

2 Responses

  1. America can't pay back that level of debt. The interest payments alone alone will ensure the US economy is sunk.

  2. The whole thing was planned to bankrupt us and decimate the middle class and drive them into servitude. What better way to take over a country without firing a shot or sending goons and thugs breaking down doors, just make everyone poor and dependent on the state for even basic needs. Welcome to Big Brother's Orwellian New World Order.

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