It's Official… Obama Has Now Borrowed $3 Trillion
Posted by Jim Hoft on Monday, October 18, 2010, 9:22 PM
Worst. President. Ever.
That didn’t take long. The Obama administration has now borrowed $3 trillion, according to the U.S. Treasury Department. But look what we have for it… 9.6% unemployment and a record national deficit.
CNS News reported:
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 to add $3 trillion to the federal debt.
In related news… Glenn Reynolds posted this on Obama’s dreadful recovery efforts–
JOHN MERLINE: Just How Lousy Is The Economic Recovery? “Indeed, when you compare the current recovery to the recoveries from the two previous worst post-Depression recessions — the one in 1974-75 and the one in 1981-82 — the picture is decidedly bleak. . . . The evidence from past recoveries shows that things could be — and arguably should be — much better than they are now. Which strongly suggests that, however bad the recession was, something the federal government is doing today is putting a drag on the normal recovery trajectory. Only by admitting there’s a problem will we ever have a chance of getting the current recovery back on track.” If you make it harder to create jobs, fewer jobs will be created.
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jim m commented:
you sell obama short. We have 17.1% real unemployment. He’s gotten far more unemployment than you give him credit for.
Moonbeam commented:
Time for Americans to demand that Obama “Show us the Money”.
Time for our Military to arrest this thief and all his co-horts immediately. This house of Corruption is falling like a deck of cards.
Time has come for all GOOD men to come to the aid of their country.
Do Not forget..Obama has control of our nukes.
Estragon commented:
For my money, Sarah is winning the Quote of the Year contest so far with, “Please, nobody tell Obama what number comes after ‘trillion,’ okay?”
Chkyn Fryd commented:
It’s a record deficit because unlike W, Cheney and Rove, the President is actually counting all the money we’re borrowing as the deficit. Crazy socialist, what cha gonna do?
Estragon commented:
Drat the lack of preview or edit functions!
Read that, “Sarah Palin,” please.
gus commented:
Chkyn Shyte?
Could you tell us the one about CARS/DITCHES, SLURPEEEEEEEEEEEEEEES.
And Barry working really hard or mopping?
Andreas K. commented:
Chkyn Fryd
October 18th, 2010 | 11:11 pm | #5
It’s a record deficit because unlike W, Cheney and Rove, the President is actually counting all the money we’re borrowing as the deficit. Crazy socialist, what cha gonna do?
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Actually, I dseriously doubt he’s doing that. Socialists like to sweep everything under the carpet. From Marx to Mao this has a long history.
Not that the president is doing any counting anyway.
Also funny, why aren’t all the socialists in Europe doing any actual counting either?
Because socialists don’t like facts. They prefer living in their red dreamworld where everything is fine.
How that works out we’ve seen in Eastern Europe.
jorgen commented:
Despite his horrible presidency, even Carter is beginning to look nearly competent in comparison to Obama.
jomojava the infidel commented:
And since the Reid/Pelosi Congress took over in 2007, the public debt has grown from $8.68 trillion to $13.67 trillion.
tarpon commented:
Only a Jackass would think this is a good thing.
Hey mommy the car is still in the ditch, what are all those muddy men doing with shovels. Don’t you want to fill the damn hole, not make it deeper?
Militant Conservative commented:
Chkyn Fryd
October 18th, 2010 | 11:11 pm | #5
Your boy is still a dictator in training pants.
Getting ready to be drug to the woodshed.
Then he’ll start blaming republicans for the economy going south, trust me ,the economy is getting ready to tank. Gee wasn’t the stock market way up in 1929?
I have prepared, how bout you?? powder is dry.
Finncrisp commented:
And the hits just keep on coming-
1) Ban incandescent light bulbs – last light bulb plant closed recently. Future lightbulbs from overseas, made with that “green toxin” mercury.
2) Curtail off shore drilling – 30,000 jobs lost. Followup action to loan other countries money for… offshore drilling.
3)Mandate green energy goals – Make the key wind mill components overseas.
4) Stimlus money for high speed rail no one will use in a practical way – Key components overseas because we have no domestic technology base.
5) Stimulus Money to Finland to make a”green” electric sports car costing an estimated 85K per car.
The only jobs Barry and the DemoRATS are creating are overseas; the only jobs they ae defending are of illegals, and the lawyers that sue our own states. This is their blueprint for Amerika, comrades.
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