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Peter1469
12-13-2014, 10:44 AM
3.8 years and $3.8T in new debt (http://www.cnsnews.com/news/article/terence-p-jeffrey/boehner-s-spending-deals-have-increased-debt-38t-38-years)

House Speaker Boehner cut his first deal with the democrats on spending 3.8 years ago. After close cooperation the establishment of both parties have added $3.8T to the nation's debt.


The federal debt has increased by $3.8 trillion in the 3.8 years that have passed since House Speaker John Boehner cut his first spending deal with Senate Democrats and President Obama.


That works out to $32,938.38 for every household in the United States—including those taking federal welfare benefits—and $42,783.20 for every full-time year-round private-sector worker in the United States.

waltky
07-16-2016, 04:34 PM
Granny says, "Dat's right - dem politicians is sealin' our doom...
http://www.politicalforum.com/images/smilies/icon_grandma.gif
CBO: ‘The Projected Amounts of Debt Would…Make a Fiscal Crisis More Likely’
July 15, 2016 | In its Long-Term Budget Outlook published this week, the Congressional Budget Office said that the additional debt it projects the federal government will accumulate in the coming years if it continues on its current path would make a fiscal crisis in the United States more likely.


“In particular,” the CBO said in its report, “the projected amounts of debt would: Reduce national saving and income in the long term; increase the government’s interest costs, putting more pressure on the rest of the budget; limit lawmakers’ ability to respond to unforeseen events; and make a fiscal crisis more likely.” “Federal debt held by the public ballooned in the past decade,” the report noted.

The CBO projects that the federal debt held by the public is on its way to unprecedented levels as a percentage of Gross Domestic Product: “If current laws governing taxes and spending did not change, the United States would face steadily increasing federal budget deficits and debt over the next 30 years, according to projections by the Congressional Budget Office. Federal debt held by the public, which was equal to 39 percent of gross domestic product (GDP) at the end of fiscal year 2008, has already risen to 75 percent of GDP in the wake of a financial crisis and a recession. In CBO’s projections, that debt rises to 86 percent of GDP in 2026 and to 141 percent in 2046—exceeding the historical peak of 106 percent that occurred just after World War II. The prospect of such large debt poses substantial risks for the nation and presents policymakers with significant challenges.”


http://www.cnsnews.com/s3/files/styles/content_100p/s3/federal_debt_held_by_public-graphic-cbo-sc.jpg?itok=7eP5_fDA

The first chapter of the outlook—“The Long-Term Fiscal Imbalance”—includes a subsection titled “Greater Chance of a Fiscal Crisis,” which explains how such a crisis could unfold: “A large and continuously growing federal debt would make a fiscal crisis in the United States more likely. Specifically, investors might become less willing to finance the government’s borrowing unless they were compensated with high interest rates. As a result, interest rates on federal debt would abruptly become higher than the rates of return on other assets, dramatically increasing the cost of future government borrowing. In addition, that increase would reduce the market value of outstanding government bonds. If that happened, investors would lose money. The potential losses for mutual funds, pension funds, insurance companies, banks, and other holders of government debt might be large enough to cause some financial institutions to fail, creating a fiscal crisis. A fiscal crisis also can make private-sector borrowing more expensive because uncertainty about the government’s responses can reduce confidence in the viability of private-sector enterprises.

“Unfortunately, no one can confidently predict whether or when such a fiscal crisis might occur in the United States. In particular, the debt-to-GDP ratio has no identifiable tipping point to indicate that a crisis is likely or imminent. All else being equal, however, the larger a government’s debt, the greater the risk of a fiscal crisis. “The likelihood of such a crisis also depends on economic conditions. If investors expect continued economic growth, they are generally less concerned about the government’s debt burden; conversely, substantial debt can reinforce more generalized concern about an economy. Thus, fiscal crises around the world often have begun during recessions—and, in turn, have exacerbated them. “If a fiscal crisis occurred in the United States, policymakers would have only limited—and unattractive—options for responding. The government would need to undertake some combination of three approaches: restructure the debt (that is, seek to modify the contractual terms of existing obligations), use monetary policy to raise inflation above expectations, and adopt large and abrupt spending cuts and tax increases.”

MORE (http://www.cnsnews.com/news/article/terence-p-jeffrey/cbo-projected-amounts-debt-would-make-fiscal-crisis-more-likely)

See also:

Judicial Watch: Obamas Spent $79.6 Million on Travel Expenses So Far
July 15, 2016 | New information obtained from the Department of Homeland Security (DHS) brings the grand total of known travel expenses of President Obama and his family to $79,630,433.93, Judicial Watch reported Wednesday.


Judicial Watch President Tom Fitton called President Obama’s travel spending a “scandal” and an “abuse of the office.” "Taxpayers should be incensed that the Secret Service’s resources [are] wasted to provide security for endless golf excursions, political fundraisers, and luxury vacations,” Fitton said.

The non-profit government watchdog organization obtained new information on Secret Service spending on hotel and travel expenses for seven presidential trips in 2014 and 2015, which were mostly for pleasure and fundraising, through a November 2015 lawsuit it filed against DHS because the agency "had failed to respond to 19 FOIA [Freedom of Information Act] requests" since July 2014.

The priciest of the seven trips - to Seattle and Los Angeles to raise money for Democratic congressional candidates in July 2014 - cost taxpayers $237,731.05 on hotels, $19,888.70 on rental cars, $1,451.40 on air and rail travel, and $2,425,085.50 on Air Force expenses, for a grand total of $2,684,156.60, according to the released records. The second most expensive trip was a $1,604,380.50 getaway to Westchester, N.Y. and Providence, R.I. that same year.

Obama’s luxury family vacation to Martha’s Vineyard last August cost taxpayers $465,420.49, according to DHS records. “The First Family’s Martha’s Vineyard vacation, their sixth in the past seven years, was spent at the lavish Blue Heron Farm in Chilmark, a seven-bedroom, nine-bath, 8,100-square-foot estate, sitting on 10 acres of farmland. The estate features 17 rooms, expansive water views of Vineyard Sound, an infinity pool, and a tennis-basketball court. It rents for $50,000 a week,” Judicial Watch reported.

http://www.cnsnews.com/news/article/jeannette-richard/judicial-watch-obamas-spent-796-million-taxpayer-money-travel

waltky
07-20-2016, 04:57 PM
Granny says, "Dat's right - 'Growin' our way outta debt ain't workin'...
http://www.politicalforum.com/images/smilies/icon_grandma.gif
Federal Debt Tops $19,400,000,000,000
July 20, 2016 | The federal debt moved above $19,400,000,000,000 for the first time as of the close of business on Tuesday, according to the data released today by the U.S. Treasury.


At the close of business on Monday, July 18, the total federal debt was $19,391,094,247,028.26, according to the Treasury. By the close of business on Tuesday, July 19, it had risen to $19,402,361,890,929.46. On Friday, Oct. 30, 2015, Congress passed the “Bipartisan Budget Act,” which suspended the legal debt limit until March 15, 2017. President Obama signed that bill into law on Monday, Nov. 2, 2015. At the close of business on Oct. 30, the federal debt stood at $18,152,981,685,747.52.

In the less than nine months since then, the federal debt has increased by $1,249,380,205,181.94. Title IX of the Bipartisan Budget Act is entitled “Temporary Extension of Public Debt Limit.” The Congressional Research Service summary explains that part of the law this way: “The public debt limit is suspended through March 15, 2017. On March 16, 2017, the limit is increased to accommodate obligations issued during the suspension period.”

Prior to President Obama signing the Bipartisan Budget Act, the Treasury had been in a "debt issuance suspension period" that Treasury Secretary Jacob Lew had declared on March 16, 2015. During that "debt issuance suspension period" the Treasury took what it calls "extraordinary measures" to prevent the debt from exceeding what was then the legal limit.

http://www.cnsnews.com/news/article/terence-p-jeffrey/federal-debt-tops-19400000000000

Peter1469
07-20-2016, 06:04 PM
$9T of that is Obama. Heck of a job.

del
07-20-2016, 07:01 PM
you misspelled 6

heckuva job

https://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

Peter1469
07-20-2016, 07:03 PM
you misspelled 6

heckuva job

https://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm


No I didn't. I thought that Navy only wanted people who could at least read simple charts. Maybe that was before your time.

The Debt was ~$10T when Bush the Spender left office.

donttread
07-20-2016, 07:07 PM
3.8 years and $3.8T in new debt (http://www.cnsnews.com/news/article/terence-p-jeffrey/boehner-s-spending-deals-have-increased-debt-38t-38-years)

House Speaker Boehner cut his first deal with the democrats on spending 3.8 years ago. After close cooperation the establishment of both parties have added $3.8T to the nation's debt.

There are crtain politicians, Bohner and HilaryClinton or Dick cheny for example who are walking talking definitions of politics as usual

del
07-20-2016, 07:11 PM
No I didn't. I thought that Navy only wanted people who could at least read simple charts. Maybe that was before your time.

The Debt was ~$10T when Bush the Spender left office.

i see army recruiting is up to its usual standards

bush was responsible for the 2009 fiscal year which ended 9/30/2009 and the debt stood at 11.9T

so 7.4T is closer to the actual number (i didn't include 2016 initially)

it's a good thing the fiscal cons had control of congress

maybe you should focus on hillary more

Bethere
07-20-2016, 08:00 PM
Reagan almost tripled the deficit. So did bush 2. Obama has not even come close to doubling the deficit.

Obama > bush or Reagan.

donttread
07-20-2016, 08:24 PM
i see army recruiting is up to its usual standards

bush was responsible for the 2009 fiscal year which ended 9/30/2009 and the debt stood at 11.9T

so 7.4T is closer to the actual number (i didn't include 2016 initially)

it's a good thing the fiscal cons had control of congress

maybe you should focus on hillary more

Don't argue guys. There is no defense for the over spending in the entire Bushbama years

Common
07-20-2016, 08:30 PM
3.8 years and $3.8T in new debt (http://www.cnsnews.com/news/article/terence-p-jeffrey/boehner-s-spending-deals-have-increased-debt-38t-38-years)

House Speaker Boehner cut his first deal with the democrats on spending 3.8 years ago. After close cooperation the establishment of both parties have added $3.8T to the nation's debt.

All part of obamas grand plan and its quite obvious now. Fill the country with muslims and mexicans,spend and give away money till the economy crashs and everyone loses pensions and SS and medicare, destroy the military to weaken the country and its ability to make a comeback.

The bright side to all this, is that all the liberals that have sniffed his ass for 8 yrs will go down with the rest of everyone else. Somehow the dolts think they will be immune

Bethere
07-20-2016, 11:20 PM
Don't argue guys. There is no defense for the over spending in the entire Bushbama years

15253

texan
07-20-2016, 11:46 PM
Great reason to vote for a career politician!