--- In FairfieldLife@yahoogroups.com, Bhairitu <noozguru@...> wrote: > > A 15 trillion dollar debt cannot be solved. The US will just have to > collapse. And it will when the dollar collapses which is forthcoming. > Oops, I forgot, maybe the "magic pundits" can save us. :-D > > May you live in interesting times.
What happened to "Yes we can"? Where's the "hope" AND "change"?, Oh well, politics as usual, I could have told you that about Obama. Obama has always been nothing but a consolidation of the left wing liberal elite! You've been had, we used to call people like that "silver tongued devils", deal with it! > > <http://www.cbsnews.com/8300-503544_162-503544.html?contributor=41947> > >>>> Topics Campaign 2012 > >>>> > > <http://www.cbsnews.com/8300-503544_162-503544.html?categoryId=10457891> > >>>> [Chart - Deficit 2012] (Credit: CBS) (CBS News) The National Debt > > has > >>>> now increased more during President Obama's three years and two > > months > >>>> in office than it did during 8 years of the George W. Bush > > presidency. > >>>> The Debt rose $4.899 trillion during the two terms of the Bush > >>>> presidency. It has now gone up $4.939 trillion since President > > Obama > >>>> took office. > >>>> > >>>> The latest posting from the Bureau of Public Debt at the Treasury > >>>> Department shows the National Debt now stands at $15.566 trillion. > > It > >>>> was $10.626 trillion on President Bush's last day in office, which > >>>> coincided with President Obama's first day. > >>>> > >>>> The National Debt also now exceeds 100% of the nation's Gross > > Domestic > >>>> Product, the total value of goods and services. > >>>> > >>>> Mr. Obama has been quick to blame his predecessor for the soaring > > Debt, > >>>> saying Mr. Bush paid for two wars and a Medicare prescription drug > >>>> program with borrowed funds. > >>>> > >>>> The federal budget sent to Congress last month by Mr. Obama, > > projects > >>>> the National Debt will continue to rise as far as the eye can see. > > The > >>>> budget shows the Debt hitting $16.3 trillion in 2012, $17.5 > > trillion in > >>>> 2013 and $25.9 trillion in 2022. > >>>> > >>>> Federal budget records show the National Debt once topped 121% of > > GDP > >>>> at the end of World War II. The Debt that year, 1946, was, by > > today's > >>>> standards, a mere $270 billion dollars. > >>>> > >>>> Mr. Obama doesn't mention the National Debt much, though he does > > want > >>>> to be seen trying to reduce the annual budget deficit, though it's > >>>> topped a trillion dollars for four years now. > >>>> > >>>> As part of his "Win the Future" program, Mr. Obama called for > > "taking > >>>> responsibility for our deficits, by cutting wasteful, excessive > > spending > >>>> wherever we find it." > >>>> > >>>> His latest budget projects a $1.3 trillion deficit this year > > declining > >>>> to $901 billion in 2012, and then annual deficits in the range of > > $500 > >>>> billion to $700 billion in the 10 years to come. > >>>> > >>>> If Mr. Obama wins re-election, and his budget projections prove > >>>> accurate, the National Debt will top $20 trillion in 2016, the > > final > >>>> year of his second term. That would mean the Debt increased by 87 > >>>> percent, or $9.34 trillion, during his two terms. > >>>> > >>>> > >>>> * Mark Knoller > >>>> > > <http://www.cbsnews.com/8300-503544_162-503544.html?contributor=41947> > >>>> Mark Knoller is a CBS News White House correspondent. > >>>> > >>> > > >
