NO OTHER PRESIDENT HAS EVER DONE IT BEFORE…CAN BARACK TAKE THIS COUNTRY TO A PLACE THAT NO MAN HAS GONE BEFORE? Think of it this way …after Obama crashes the economy this country won’t elect another democrat for another 100 years! (I hope)
Can the USA Survive Obama’s Double Down Day? $21,253,754,097,826.16
Could Barack Obama achieve that rare feat as president – doubling the national debt during his term of office? And can the nation survive Obama’s Doubledown Day?
According to the Treasury, the national debt on Inauguration Day, Jan. 20, 2009, was $10,626,877,048,913.08. Yesterday it was up by 54 percent at $16,281,329,916,599.63. And counting.
That is 105 percent of the value of everything the U.S. makes and sells in an entire year. For comparison, the European Union’s anti-bankruptcy treaty says no member state may borrow more than 3 percent of GDP in a year or 60 percent in total.
If 16.3 trillion dollar bills 6.1 inches long were laid end to end, they would stretch all the way to the sun and back well over eight times, or to the moon and back almost 3,300 times.
If Obama continues to borrow at the current rate, his Doubledown Day will occur well before he leaves the White House. The comparatively insignificant spending cuts and tax hikes of the absurdly named “fiscal cliff” would not change the numbers much.
On Obama’s Doubledown Day, Uncle Sam’s debt will be $21,253,754,097,826.16.
Debt interest alone is running at $270 billion a year, around three times the entire education budget and close to $2,500 for each U.S. taxpayer. Outstanding debt itself is already $140,000 per taxpayer and will be heading for $200,000 per taxpayer on Doubledown Day.
And how have the “Democrats” been dealing with this crisis? They have been dealing with it. Oh yes, indeedy. They have been dealing with it most decisively and firmly – by fiddling the numbers.
Last year the dreadful Nancy Pelosi published a chart that went viral on the sinistrosphere, apparently showing that Obama was borrowing less than the previous four presidents. However, after critics pointed out that Pelosi had deducted a whole year from Obama’s term of office and added it to his predecessor’s, the bogus graph was hastily amended. CONTINUE THIS STORY HERE (CLICK)