Reprehensible: Obama’s New Record Federal Debt Equals $197,579 for Each American Family
Posted By Vicki McClure Davidson on November 17, 2011
How big IS fifteen trillion dollars?
Far, far bigger than anything that George W. Bush, plus all the other US presidents in the history of America, ever did to our nation.
Read it and weep, America.
Reported by CNS News, $15T Federal Debt Equals $160,545 for Each Full-Time Private-Sector American Worker:
The U.S. Treasury Department reported on Wednesday that as of the close of business on Tuesday the federal government’s debt had exceeded $15 trillion for the first time in the nation’s history–hitting precisely $15,033,607,255,920.32.
The Bureau of Labor Statistics estimated that there were 93,641,000 full-time private sector workers in the United States in 2010 (and 18,073,000 full-time workers in federal, state and local government). That means the $15.0336 trillion federal debt equals approximately 160,545 per full-time private sector worker.
Given that the Census Bureau estimates there were approximately 76,089,045 families in the United States in 2010, the federal debt equals approximately $197,579 for each American family.
We’re in major crisis mode. Start stocking up on dried beans and other humble staples, America… the worst has yet to come.
About the author
Three tools of the totalitarian manipulators. Fear, Uncertainty and Doubt (FUD Factor). As long as people fall for this, they will continue to pass laws they don’t need, elect people they don’t want, fight wars they don’t want, pay taxes they can’t afford.
Three very costly wars, an urgent and ill conceived “financial bailout” and accelerated federal spending to fight a “war on terror” in the way of building a massive and useless homeland security organization, were all a result of fear and war mongering created by the Bush administration. The Obama administration has inherited all of these problems created prior to his administration. Folks forget the downward spiral we were in prior to 2008.
Wake up sheeple.
Sorry – the third war is/was all Obama’s. The first two were voted on by Congress (Obama couldn’t be bothered with putting his war before Congress for a vote, so if you’re going to fingerpoint, the Community Organizer in Chief can’t be ignored). Liberals voted for Iraq and Afghanistan, as did conservatives, but liberals are now trying to convince us they, uh, didn’t vote for it (congressional records of voting are SUCH pesky things, aren’t they?). The “fear mongering” was/is still real – or did Islamic zealots suddenly decide they won’t be killing all the infidels in America, in Europe, or killing Islamics in their own countries? The cost of the two wars under the Bush administration was a tiny fraction of what Obama has spent in less than three years in increased government spending, entitlement programs, etc.
Bush didn’t “create” fear – that happened on September 11, 2001 when Muslim zealots used jet planes as incendiary torpedoes and killed nearly 3,000 innocent people. Or were you still playing with your Hot Wheels cars and are oblivious of how the assaults of 9/11 changed the entire country, the entire world?
That “inherited” excuse for Obama no longer works – how many times did Bush blame Clinton for dismantling our military? Zero. How many times did Bush blame Clinton past his first few months in office for what he inherited? I think that’s also zero. Obama is a whiner and a self-absorbed child who loves to community organize, but doesn’t understand how free market principles work, how the Constitution is suppose to work — he has never taken blame for any of his failed decisions to manipulate the economy, to bailout Wall Street (although, now he’s blaming them for his own decisions… “too big to fail,” remember that?), to grant high-risk loans to his cronies, to spend us into “prosperity.” The economic disaster we are in are a direct result of his redistribution/big government agenda, his Marxist legislation, his schizoid approach to governing, his nearly billion dollar stimulus/porkulus plan that stimulated nothing but paid his cronies and campaign supporters handsomely. How did GE manage to not pay any taxes this past year? Thank Barry O for that. ACORN has been feeding well at the Obama trough, as have Siga Technologies, Solyndra, and LightSquared, and others. All have intimate ties to Obama’s 2008 presidential campaign – investigations are just now starting.
The “downward spiral” of 2008 was partially a result of Clinton’s CRA and thousands of home loans that banks were forced to make to people (most of whom were minorities) who simply could not afford them. It was inevitable that it would come crashing down. There’s the horrific debacle of Fannie Mae and Freddie Mac. Bush tried at least twice to reign that in, but was voted against by the Democrats. TARP was a necessary evil, one which Pelosi, Reid, and other Dem leaders pushed Bush into a corner to OK. You called it an “urgent and ill conceived “financial bailout”” – one that not Bush, but the Democrats drew up and told him if he didn’t sign it immediately, would ruin the country. I agree with you – TARP was a bad, bad choice, one that I never agreed with, one that was loaded with earmarks and was only a bandaid for a gaping wound. But because of the disastrous collapse, it was the only viable alternative at the time, one that Democrats forced through. Fannie and Freddie are largely problems created by Barney Frank, but liberals have covered for him and his nightmare programs – Frank has painted himself as a hero on that, which is utter BS.
Bush is not blameless by any means, but in many instances, his hands were tied to stop the spending. Congressional Democrats were at the helm of much of this economic crisis, and Obama has revved the spending up beyond super-sonic levels. We’re now at 15 trillion dollars in debt, with no end in sight. The amount of money Obama has borrowed from China is staggering, and Bush didn’t do that, buckeroo. Yet just like you, nearly three years later, Obama believes he is a victim, totally blameless. Nope. I doubt that Obama will ever take any blame for anything he has done to destroy the foundation of America – it’s something that narcissists are incapable of doing.