National Debt

[W. Gray]

As of this morning, February 26, 2012:

Federal Government:
National debt $15.4 trillion
$49.2 thousand per citizen
$136.1 thousand per taxpayer

Federal spending, $3.6 trillion

Federal deficit this year, $1.3 trillion

Private:
Personal debt in US, $15.9 trillion

Mortgage debt, $13.4 trillion

Consumer debt, $2.5 trillion

Credit Card debt, $793.4 billion

[Warph]

Do you think that someone could steal 150 million dollars and get away with it?  Well, the truth is that such a theft is taking place every single hour of every single day.  The federal government is stealing 150 million dollars an hour from our children and our grandchildren and Barack Obuma thinks that is a good thing.  The new Obuma budget projects a $1.33 trillion federal budget deficit for the 2012 fiscal year.  That is significantly higher than the $1.15 trillion that the Congressional Budget Office was projecting because it includes a whole bunch of stimulus spending that Obuma plans to do.  

So let's do a little math.  When you divide $1.33 trillion by 365 days, you get 3.6438356 billion dollars.  So on average, the United States will be adding more than 3.6 billion dollars to the national debt every single day during fiscal 2012.  And when you divide $3.6438356 billion by 24 hours, you get 151.8 million dollars.  So on average, the U.S. national debt will be going up by more than 151 million dollars every single hour during fiscal 2012 if Obuma has his way.  This is a theft from our children and our grandchildren that is so vast that it is almost unimaginable.

The 2012 budget deficit that Obuma is projecting would be equivalent to approximately 8.5 percent of GDP.  We simply cannot afford to be running these kinds of outrageous budget deficits year after year.

At the moment, the U.S. national debt is sitting at a grand total of $15,400,765,022.16.  That is an amount that is so large that it is hard to even put into words.

((((See what a trillion dollars looks like: http://www.pagetutor.com/trillion/index.html ))))

At this point our national debt is greater than 100% of our national GDP.  We are on the road to national financial disaster and yet our politicians keep piling up debt at a rate that is absolutely mind blowing.

Obuma  is projecting that budget deficits will go down "in the future", but that is what our politicians always do.  They always promise that the budget picture will improve "down the road", but that never actually happens.

http://www.usdebtclock.org/#

[Warph]

The Vote Pump

Barack Obama will have ONE BILLION DOLLARS to spend on his re-election in 2012. Bill Whittle calls that chump change. Find out how the Big Government statists spent 22,000 times that amount on buying votes in 2011 alone!

[Warph]

The Debt Generation

In 2008, the youth vote was overwhelmingly for Obama and helped elect him to the White House. Now, three years into his presidency and one year from the most important election of our lives, college students are thinking twice before voting for Obama again.