Unprecedented: Obama Has Borrowed $3 Trillion… So Far
- Posted on October 18, 2010 at 9:56pm by
Meredith Jessup
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It took the United States of America 214 years (from 1776-1990) to borrow $3 trillion against the national debt. According to the U.S. Treasury, it’s taken President Barack Obama just 22 months to add the same amount. CNSNews reports:
The overall debt of the federal government, according to the Treasury Department, is now $13.666 trillion.
Each business day, in the afternoon, the Treasury Department’s Bureau of the Public Debt publishes the exact amount—to the penny–of total federal debt as of the close of the previous business day.
At the close of business on Jan. 20, 2009, according to the bureau, the total debt of the federal government was $10,626,877,048,913.08. On Oct. 15, 2010, the federal government borrowed an additional $58,979,549,154.06, bringing the total federal debt at the close of Friday’s business day to $13,665,926,643,255.96—an increase of $3,039,049,594,342.88 since President Obama’s inauguration.
As calculated by the Bureau of the Public Debt, the total federal debt includes two major components: debt held by the public, which includes publicly traded securities such as Treasury bonds, and intragovernmental debt, which is money the government borrows from theoretically dedicated funds within the government itself, such as the Social Security trust fund.
The overwhelming majority of the $3.039 trillion increase in the debt under President Obama has come in the form of debt held by the public as opposed to intragovernmental debt. Debt held by the public has increased $2.75196 trillion since Obama was inaugurated, according to the Bureau of Public Debt, while intragovernmnetal debt has increased $287.0889 billion.
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Comments (105)
hiplainsdrifter
Posted on October 18, 2010 at 11:55pmThank God the Chinese have our back. Or maybe that should be, thank allah.
Report Post »FSUDAVE
Posted on October 18, 2010 at 11:48pmI just checked : The total government debt on January 2, 2007 ( when the Dems took control of Congress ) was $8.7 trillion. So the Dems took over in 2007 and have increased the debt $7.6 trillion, nearly 50% in 4 years.
Report Post »uhadenoughyet.com
Posted on October 19, 2010 at 12:12amunderstand money is debt and debt is money, Fiat currency is going to buy not just the nails but the coffins too, we are doomed beyond all recognition if we dont reign in the fed. Hyper inflation doesnt describe whats in store folks.
Report Post »RWnutJob1
Posted on October 19, 2010 at 4:57ami like your convenient way of calculating things. did you ever come to the jr nazi meetings in tallahassee?
Report Post »Flagwaver
Posted on October 18, 2010 at 11:40pmDon’t forget that it was Bush that made him do it. Blame Bush, that’s the key. Who cares that you are adding fuel to make a bonfire when you inherited a campfire.
Report Post »Bob_R_OathKeeper
Posted on October 19, 2010 at 5:39amRWnutJob1- You’re not very bright, actually you’re stupid, very nice grammar. Great example of the idiots that voted for Obama.
Report Post »Blacktooth
Posted on October 19, 2010 at 4:58pmNutjob…….too bad you can’t spell. Until you learn, why not refrain from displaying you lack of education.
Report Post »FSUDAVE
Posted on October 18, 2010 at 11:35pmSince a President can’t spend money ( in theory ) on a bill that is not first passed by Congress, shouldn‘t this deficit total be calculated from when the Dems took majority during Bush’s term? So the totals should be contrasted from when Repubs had majority compared to when the Dems took over. What is that number?
Report Post »RWnutJob1
Posted on October 19, 2010 at 3:59amyeah, wth? we should be counting from when they took office 3.8 years ago. but you said presidential spending right? because 3.8 years ago until 1.8 years ago George Bush was still president. or do i have my facts mixed up there?
Report Post »Sunnyr
Posted on October 18, 2010 at 11:28pmThank God we are going to be in a better position to foil most of his agenda in the remaining 2 years of his disastrous administration. Our country is teetering on the brink and this BOZO keeps on spending. He is TOAST after November 2.
Report Post »stepinwolf
Posted on October 18, 2010 at 11:26pmWhen there are no jobs left in the U.S. and only government employees Who will be paying the taxes ?? and the gov. employees??? …Mcdonalds will be closed….Mooshelle obama will just be devastated…..Most of us will be in another country looking for work.. and anyone that stays will look like a starving Ethiopian….How will that JACKASS MUSLIM pay off his debt??
Report Post »Oh, God!
Posted on October 18, 2010 at 11:24pmYou have to read this outloud to be able to process this amount of money. This is our debt, We The People owe more than 2 trillion. I can’t even find a job, how in the hell am I going to pay this? Can I declare bankruptcy? Anyone want to do a class action bankruptcy? The only way out of this, oh wait, there is inflation. Next up kiddos, a ride that will blow your mind…
Report Post »spreadcommonsensenot pc
Posted on October 18, 2010 at 11:11pmCicero said, A Nation can survive its fools, and even the ambitious but it cannot survive treason from
Report Post »within……………………………..whats that SPELL………………………Progressives-progressives-progressives
neverending
Posted on October 18, 2010 at 11:09pmEverything the bastard in chief has done is intentional. Never could understand how one can be so ignorant as to vote for him when he said from the very start – one of the first words out of his mouth werre “gonna transform America”!!!! He couldn’t have said it any clearer then that and from that day on and all the way through to election day – I was sick to my stomach because I saw what was coming and here we are in the worst dire straights we have ever been in. He is so full of hate for this country and the people that disagree with him – he looks like satan himself.
Report Post »RWnutJob1
Posted on October 20, 2010 at 7:33pmhis gonna taransform america into waht it needs to be: one nation, under Glenn Beck and Koch bros, united end indivizible for just and all!!!!
oh and BR oathbetrayer, your a disgrace to the white reace. i voted for mccaine and palin you idiot.
Report Post »Bravo
Posted on October 18, 2010 at 10:49pmNow do you want to know why Republicans want the keys back? Instead of getting the car out of the ditch, Obama has pushed the car into HELL.
Report Post »RWnutJob1
Posted on October 19, 2010 at 3:56amexactly. that‘s why we’re in a depression now!!!!!!
Report Post »Jimmers46
Posted on October 18, 2010 at 10:45pmI tried to warn people! People who don’t believe in God will believe anybody else!
Report Post »BoilitDown
Posted on October 18, 2010 at 10:37pmThe fact that the United States of America borrowed $3 trillion against the national debt in the first 214 years shows irresponsibility in government. The fact that another $3 trillion has been borrowed in the last 22 months can lead use to only four conclusions.
Report Post »1) Neglegent ineptitude.
2) Insanity.
3) A deliberate attempt to collapse the economy.
4) Criminal abuse of public funds to gain and maintain power and personal fortunes.
I suppose a combination of any of these is possible but, you can be sure that concern and dedication to the people of the United States and the Constitution had nothing to with it.
Any way you look at it, our ruling class has failed and betrayed us. Our failure to act now to change leadership and pressure them into restoring the strength of our country will surely allow it’s demise.
Additionally, anyone begging for help from the government for anything other than the most deserate of needs rather than joining in to help is complicit in America’s collapse.
benrush
Posted on October 18, 2010 at 10:30pmWow, that Bush guy is STILL sticking his finger in our eyes? How long must we struggle to get out from under his long shadow?
Report Post »wingedwolf
Posted on October 18, 2010 at 10:27pmPLEASE don’t anyone tell Obama what comes after trillion!!! (Can’t take any credit for that, read it on a bumper sticker, but felt it was SO appropriate!)
Report Post »txpiper
Posted on October 18, 2010 at 10:26pmThe real ugly problem is that there are millions of people on the receiving end of that 3 trillion and the rest of the debt we’ve been accumulating for decades. It is how they live, and they are not going to react well when they get cut off, whether it happens by deliberate responsible action, or economic calamity. I’m predicting some measure of violence either way.
Report Post »uhadenoughyet.com
Posted on October 19, 2010 at 12:03amIt is my opinion you raise the best yet most ominous point yet. I think another interesting statistic that goes hand in hand with this one is the broader indicator of us currency supply. Since the Fed quit reporting M3 in 2006, it is a good guess at best but somewhere around the same number, around 14 trillion dollars. So if the federal government taxed every US dollar in circulation it would only go to pay the current debt as admitted to by the feds. This would not even account for the tens of trillions of unfunded liabilities or the interest on the debt in billions. We are in deep kaka folks, and when, as you said txpiper, THEY get cut off, what do you suppose the fiscal impact on the markets, productivity and profitability will be? Ie all the money THEY wont have to spend on the goods and services. The republicans will have you believe that money will be saved by US and eventually find its way into the economy any way, the democrats will have you believe we ALL must pay our fair share so THEY will have the money to buy stuff. But if you look at all of the foreign money that will leave our currency when that violence you speak of starts, well my Texan friend, we are all going to pay a price that is reflected better by the value of the wine in the bottle vs the scrap value of the glass the next morning. Good luck to all!!!
Report Post »YellowFin
Posted on October 19, 2010 at 1:09amTwo excellent observations here. If we but project some of our accumulated wisdom to the future, we can see what is coming.
Report Post »DSTSS2010
Posted on October 19, 2010 at 8:17amIf the entitlement programs are cut back, there will be rioting. Just look at France. This could play right into Obama’s hands, as he would love to be able to declare Martial Law, and suspend our Constitutional rights.
Report Post »GhostOfJefferson
Posted on October 19, 2010 at 9:14amI’m not particularly worried about “them uprising” to be honest, as far as their actual threat goes. The people who live on the labor of others are generally unarmed in any meaningful sense, painfully stupid or ignorant in the extreme, and their violence is easily subdued. I for one am tired of the constant implied threats from these people of “you better let us suck 65% to 95% of your labor away, or we’ll riot!”. Yeah, really, will you? Ok, do it. Bring out your wooden clubs, crowbars and broken beer bottles. Whoopdee farkin’ do.
Otherwise, be quiet, get a life, and get a job. We’re all getting pretty damned tired of having most of our earned labor stolen to help you useless hangers on suckle, under a veiled threat of force.
The biggest “threat” they pose is that their mindless animal violence will enable the progressive government to neatly enact martial law. Which I guess is probably what they’re going to be counted on to do eventually. Bunch of useful idiots.
Report Post »psst
Posted on October 18, 2010 at 10:24pmYeah!! But what’s the big deal.
Report Post »It’s only “munny”. And
Hussein does not have to pay it back.
So why should it bother him?
poverty.sucks
Posted on October 18, 2010 at 10:17pmObamanomics suck
Report Post »LUDWIKA BRONISLAWA
Posted on October 18, 2010 at 10:17pmYeah, borrowed more money in 22 months than in 214 years. This is so obviously Bush’s debt! He totally planned to borrow that money but just didn’t have time so he figured out a way to hypnotize Obama and therefore spent like he meant to all along! HAHA! I see through you, you evil, diabolical genius……you! Since Obama has been hypnotized, of course, he has no recollection of any of this borrowing and truly believes it was Bush. Where else could it have come from? ; ) lol
Report Post »Rightpower
Posted on October 18, 2010 at 10:09pmCan you say The Cloward–Piven strategy everybody.
Report Post »seayalater73
Posted on October 18, 2010 at 11:00pmOf course thats what it is. How else do you explain him and his cronies punch line about the evils of free market? No matter how badly things turn out, they always have the “haves” to blame. Even the soviets tried this malarky towards the end, blaming foriegn capitalist sabatours. If his administration‘s total lack of concern over the debt doesn’t creep people out, then that means their brain-washing is working.
Report Post »neverending
Posted on October 18, 2010 at 11:01pmLooks to me like he is right on track.
Report Post »RWnutJob1
Posted on October 19, 2010 at 4:46amno..but i can say right power is white power!!!
Bob_R_OathKeeper
Posted on October 19, 2010 at 5:15amRWnutJob1 – You’re the true racist POS.
Report Post »SnapTie
Posted on October 18, 2010 at 10:07pmDoes anybody dare tell Obama what come after a trillion?
Report Post »MiketheTrucker
Posted on October 18, 2010 at 10:12pmI think he already knows, and that‘s what he’s shootin’ for.
Report Post »Blacktooth
Posted on October 18, 2010 at 10:56pmWhat would happen to you and I if we accumulated a billion dollar debt and we could not pay it back?
What would happen?
What will happen to a country if it was 13.666 Trillion dollars in debt? What will happen?
Report Post »Ccbn213
Posted on October 18, 2010 at 10:57pmSuccess! He’s made “history” again! I hope he’s proud.
Report Post »YellowFin
Posted on October 19, 2010 at 12:01amBlacktooth, I think we know what will happen, we are not stupid.
Report Post »RWnutJob1
Posted on October 19, 2010 at 4:26amwell considering that 13 aint that close to 1000, probably no need. does anybody dare remind you that the net debt is only 9 trillion? or that out of the gross debt reagan and the bushes are responsible for over 9 of it?
Report Post »MSG
Posted on October 18, 2010 at 10:06pmQuote from the Declaration of Independance, “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.”
Report Post »Glenn is my hero
Posted on October 18, 2010 at 11:12pmYes we DO need to abolish our government and start over again! The liberals/progressives/commies/socialists need to get OUT of America and go somewhere else. They are traitors. Anyone who is not for the Constitution is an enemy of mine.
Report Post »RWnutJob1
Posted on October 19, 2010 at 4:44amend inyone who is a friend of glenn beck is a freind of mine!!!! hail family values (not for the black or the gay though)
Report Post »Bob_R_OathKeeper
Posted on October 19, 2010 at 5:13amRWnutJob1 – Please get an education, because right now you’re a great example of the stupidity that voted in Obama.
Report Post »Juan Gault
Posted on October 19, 2010 at 3:25pmHow wonderful were the founders to comment on what we the people are today bearing witness to.
They were indeed prescient in their declaration.
Pray that our Republic,has not yet passed beyond the tipping point, and a mid course re-direction,rights the ship of state.
Report Post »MrButcher
Posted on October 18, 2010 at 10:06pmi can think of a few more adjectives other than “Unprecedented” to describe the current admin and our collective situation—-but they would get this post deleted.
but, damn, Nov. 2 can’t get here fast enough….
what’s next?
Report Post »WISEPENNY
Posted on October 18, 2010 at 10:31pmCan we survive the 2 and 1/2 monthes of “getting even” with the voters that the sore loser Democrats are sure to inflict? Almost 4 Trillion in debt makes me want to puke. I am convinced it’s intentional death blows to the United States.
Report Post »MrButcher
Posted on October 18, 2010 at 10:46pmit may be an attepmt at that.
but this country has a foundation in its gut and mortal soul that can not be destroyed. i firmly believe that.
we are at our best when things are at their worst.
we’d better be ready for the worst.
but i think we’ll knock it out and deal with it
in a way that CAN TRULY REDEFINE the world
these are historic times, my friend.
Report Post »snowleopard3200
Posted on October 19, 2010 at 2:20am@Wisepenny – yes it is, in my oppinion, being deliberately done.
@MrButcher – agree America has the ability to weather anything, when we chose to, and will always come out stronger and greater than before, thanks to the Almighty. Indeed these are historic times, for America is already changing and we are charged – the people – to chose what we want it to become for that future.
Report Post »lite530
Posted on October 18, 2010 at 10:05pmI divorced my ex-wife for the very same thing!
Report Post »wingedwolf
Posted on October 18, 2010 at 10:28pmHAHAHAHAHAHAHA!!! I needed that!
Report Post »RestoreCapitalism
Posted on October 18, 2010 at 10:53pmYeah, and we need to divorce Obama too. But for now, the congressional seats will have to do. If we defund all of the crap the dems are spending money on, it will go a long way to balancing the budget. Obviously the debt will be around for generations, what a legacy this idiot has created.
Report Post »RWnutJob1
Posted on October 19, 2010 at 4:41amyeah, all the crap like that socialized education and free police departments and paying them old losers their social security.
Report Post »Capt_Spalding
Posted on October 18, 2010 at 10:05pmYet SOMEHOW it’s ALL George W. Bush’s fault. What a jackass.
Report Post »leftylemn
Posted on October 18, 2010 at 11:59pmNope..Obama says it’s now our fault. All scared and not thinking clearly. Clinging to our guns & religion.
Report Post »snowleopard3200
Posted on October 19, 2010 at 2:16amYup same old story of the Progressives “blame, blame, blame…” and never take responsibility.for the messes they leave behind.
http://www.artinphoenix.com/gallery/grimm (mix art)
Report Post »RWnutJob1
Posted on October 19, 2010 at 4:05amyeah it’s not his fault. we need make war with two countries that got no wmds and we need to ship jobs overseas by giving tax breaks to companies doing so. where do i get these crazy ideas you ask? where here’s the link: http://www.aflcio.org/issues/jobseconomy/exportingamerica/upload/bushrecord_jobsoverseas.pdf
notice how at the very bottom the sources sited are all government agencies and such.
Report Post »gopsnativeson
Posted on October 19, 2010 at 8:00amIf you take 13 trillion divided by 300 million people that amount to 45k plus that is owed by every man woman & child living in the US. THe only problem is half the people will never earn 45k a year, & the major problem is that only half are paying taxes. Divide 13 trillion by 150 million taxpayers, & each & ever one of us, the US TAXPAYER, owes 91k. $91,000 from every taxpayer & thats just the debt.
If we figure in Fannie, Freddie, Medicare, medicaid, SSI & government pension obligations, we would see that number double or triple.
IS THIS REALLY WHERE THIS COUNTRY IS HEADING.
DOES ANYONE REALLY NEED TO KNO ANYTHING ELSE BEFORE WE ELECT EVERY DEMOCRAT OUT OF OFFICE ALONG WITH HALF THE REPUBLICANS WHO HAVE LET THIS HAPPEN ON THIE WATCH. ie McCain, McConnell, Snow, Collins, & the rest of them,
THEY ALL HAVE GOT TO GO.
535 PEOPLE OUT OF 300 MILLION ARE COMPLETELY RUINING THIS COUNTRY FOR THE REST OF US WHO WORK FOR A LIVING, & ABOUT 450 HAVE GOT TO GO
Report Post »walkwithme1966
Posted on October 20, 2010 at 3:23amWell speaking of George Bush – he spent $3.522 trillion during his 2 terms as well as the money for the 2 wars that were never put on the books. http://maboulette.wordpress.com
Report Post »MiketheTrucker
Posted on October 18, 2010 at 10:04pmNotice the “666”?
Report Post »WhiteFang
Posted on October 18, 2010 at 10:14pmIt is amazing what some of us will notice, 666 indeed. The debt is $13.666 trillion……..can you imagine? Is there that much money in the entire world? Things do not look good for the United States!
Report Post »MrButcher
Posted on October 18, 2010 at 10:48pm666 is just a number.
don’t read into it.
it’s illogical.
focus on 11/2
Report Post »Okpulot Taha
Posted on October 18, 2010 at 11:37pmMR BUTCHER practices numerology, “666 is just a number”
Yeah, well, explain away the 13.
Okpulot Taha
Report Post »Choctaw Nation
TruthTalker
Posted on October 18, 2010 at 11:43pmMaybe the 666 means something, probably not, yesterday it less, tomorrow it will be higher. this was just a snapshot of today. We all can agree that it is bad.
Report Post »Mister President
Posted on October 18, 2010 at 11:43pmThis story isn’t completely accurate. According to usdebtclock.org, the ‘US National Debt’ is 13.607 trillion dollars as of 10:41pm CST. I’m not saying they are lying here, but, obviously, they picked the estimate that had the number 666 in it deliberately. There’s a 7 in my estimate, so we’ll be fine at the end of the day.
Report Post »911
Posted on October 18, 2010 at 11:48pmfudge!
Report Post »MrButcher
Posted on October 18, 2010 at 11:58pmOkpulot Taha postulates that MRBUTCHER understands numerology
“explain away the 13” from the sum of 11/2
MRBUTCHER responds in this way negating the date slash (/)..
one plus one divided by two equals one
1+1/2=1
this is what all people of the earth must know.
cheers.
Report Post »StMichelob
Posted on October 19, 2010 at 12:28am…I’m sure there is a “666” somewhere in that too-fast-to-watch debt clock about every half second.
…Anyone ever see “Fight Club”?
Okpulot Taha
Posted on October 19, 2010 at 12:54amMR BUTCHER is one of the grays, “this is what all people of the earth must know.”
I just knew you are not of this planet.
Okpulot Taha
Report Post »Choctaw Nation
snowleopard3200
Posted on October 19, 2010 at 2:13amThe current administration loves blaming former President Bush for runaway debt and deficits, yet here he has borrowed almost 3 Trillion dollars to add to the nations debt.
To give an idea of what this means, a radio show here in AZ explained it simply:
1 Trillion 1.00 bills laid end to end will cover just under 63000 miles in distance, or just nearly 1/4 of the way from earth to the moon.
No matter what, our country is led into the bankruptcy by the Progressives and Mr Soros as they have planned – let them understand this Nov that enough is enough.
We will have a hard struggle ahead with difficult choices to make for paying off this massive mount of debt – yet america shall make it through by clinging to the Almighty, and with His guidance and blessigs, emerge stronger and greater than before.
http://www.artinphoenix.com/gallery/grimm (mix art)
Report Post »CYBERFOX
Posted on October 19, 2010 at 3:41amFocus on 11/2
Report Post »and for those in California, Vote Leland Yee Out of Office!
RWnutJob1
Posted on October 19, 2010 at 4:01amnotice that there are 69 comments? well whatever there where before this post.
Report Post »Mr Sanders
Posted on October 19, 2010 at 4:58amThink about this… in numerlogical terms anyway… 666 could the sum on a barcode, a social sec. number. Nonetheless, he, the #2 thrown down from Heaven, has been proponed to come from ‘Euro-zone’ in Endtimes-speak.
Report Post »BehindBlueEyes
Posted on October 19, 2010 at 6:11amThis is how progressives think .. 2 + 2 = 5
Report Post »Hondaman
Posted on October 19, 2010 at 7:34amThere is something wrong with Mr. Haussain Obama’s head !!!!!!!!!!!!! He is ruining this country.
Report Post »PalinLeadUs
Posted on October 19, 2010 at 7:58amWhen the article was written the dollar amount is !3,666. The next day it will be a whole lot more and everyday a whole lot more yet. People need to focus on the HUGE AMOUNT. Let‘s don’t confuse anyone on what the real issues are. Let’s take care of business on Nov. 2nd and again in 2012!
Report Post »felina g
Posted on October 19, 2010 at 9:09amMore number games. Just came out it is closer to $202 trillion bottom line when all is included. Get your head around that.
Report Post »Susan Harkins
Posted on October 19, 2010 at 2:24pmSo let me get this right …You run for office, get elected, borrow $3 trillion, buy $100 million in gold, put it in your basement and claim that the $100 was part of military funding expenditures that conveniently got lost by military logicstical screw-ups, run the dollar into collapse, call your other global elected pals out from their basement when the riots calm, tell the people that you guys agreed to a new currency, pull your gold out from your basement, sell it for the new global dollars, and you and your friends own the world.
Do I have this about right, fellas?
Report Post »