by

Half a Decade of $1 Trillion in Annual Deficits


GEITHNER-OBAMA-BEN BERNANKE-AP- PHOTO-MARCH 23, 2009Barack Obama is unable to run on his policies and he’s unable to run on the economy. Why? Because his policies are seriously flawed and have done nothing to improve America. In fact, they have proved to be destructive. The economy is in shambles and unemployment continues to remain well above eight percent, even more than that if you count those who are out of work and are not on the unemployment roles.

Does any of this stop the Obama administration from continuing to spend like drunken sailors? No offense to drunken sailors, but at least they only spend till they run out of money. The federal government just keeps spending whether they have the money or not. They merely have the Federal Reserve print more money out of thin air, which then just weakens the dollars that citizens are holding.

CNS reports,

By the end of the third quarter of fiscal 2012, the new debt accumulated in this fiscal year by the federal government had already exceeded $1 trillion, making this fiscal year the fifth straight in which the federal government has increased its debt by more than a trillion dollars, according to official debt numbers published by the U.S. Treasury.

Prior to fiscal 2008, the federal government had never increased its debt by as much as $1 trillion in a single fiscal year. From fiscal 2008 onward, however, the federal government has increased its debt by at least $1 trillion each and every fiscal year.

The federal fiscal year begins on Oct. 1 and ends on Sept. 30. At the close of business on Sept. 30, 2011—the last day of fiscal 2011—the total debt of the federal government was $14,790,340,328,557.15. By June 29, the last business day of the third quarter of fiscal 2012, that debt had grown to $15,856,367,214,324.44—an increase for this fiscal year of $1,066,026,885,767.29.

So for half a decade, or since Barack Obama has been in the White House, our country has spent in excess of one trillion dollars that they do not have. We are coming up on the end of the third quarter of fiscal year 2012 and we are already going to be in the same predicament.

Spending by the federal government has to have serious cuts and if it means the government shuts down over it, so be it. The fact is that we cannot continue to promote bad monetary policy such as this. It is irresponsible and furthermore it is a serious national security threat.




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  • RWSmith6

    What a coincidence! Half a decade of $1 trillion annual deficits, half a decade of more than $1 trillion a year on the combination of these 5: Nation Building, Homeland Security, Foreign Aid Designed to Gain the Cooperation of Other Countries, Veterans Affairs, and National Defense. Our international footprint and being SuperPower on Call are darned expensive. In fact, they’re the main driver of our national debt, now about $16 trillion. The foreign policy decisions behind it all, fine in flush times like those following WWII, are in these lean times responsible for our flirtation with fiscal disaster.
    A strong national defense is absolutely essential. That we’re spending more than the rest of the world combined on the five listed above is absolutely foolish, however. And it’s all done on the taxpayers’ dime, lately with the important help of our friendly banker, China.
    It’s time for a national discussion and debate of the country’s foreign policy decisions–decisions costly enough to leave us little for a great many domestic needs.

  • Wayne Wathen

    How much would the deficit be if the Republicans (mostly) were not giving $10 billion annually to the big oil and gas companies in the form of subsidies? Would it be as large if the billionaires were getting all these tax cuts and if many large corporations were getting away with paying no Federal taxes and in some cases getting huge refunds of our tax dollars? And as I recall, we had a balanced budget until George Bush got into office and the Republicans control both the House and Senate. I guess there are a lot of short memories in the tea party.

    • Btty

      Wayne, you need to change horses Dude! You and others have beat this horse to death. Blaming George Bush or the Republicans is BS. Yes, Republicans have some responsibility here. However, Obummer has more than tripled the debt in 3 1/2 years. A heckl of alot more than President Bush. You cannot blame this crap on Bush. Obummer owns it. He has no clue what the heck he is doing. Oh, and just in case it passed you by. Guess what? He has weakened us militarily. Oh, almost forgot this wonderful guy of yours also wanted our military to pay for their own insurance. As if they don’t give enough by sacrificing themselves and their families to fight for us, then come home to what? NO JOBS!!!! No way to support their families and a Commander in Chief that has nothing but contempt for them. I see nothing likeable about this guy. When people say: Well, he seems like the kind of guy you would like to have a beer with? Well, I guess I have higher standards. I would rather have a drink or dinner with one of our military men/women. When I think of the Obama’s I want to gag.
      Wayne, I haven’t meant to attack you but when I see people who still idolize him I get very angry. He is a Divider. He wants us all at each others throats. Divide and Conquer is what he hopes for. I apologize if I insulted you. But please think of all the damage this President has done to our Great Country. Just think about it.

  • straightarrow

    To truly be fair, W’s policies did cause a lot of this. Note the article talks about five years of trillion plus deficits, when Obama has been in office 3 1/2 years. And some of the spending is to keep the banks and auto companies alive long enough to recover, which the current administration inherited.
    We’ve run serious deficits for 30 years, going back to Reagan. And it’s not just Democrats that run up our debt, Republicans are equally guilty, It’s just that one party spends way too much on social programs, the other one way too much on military adventures and corporate welfare. And the minute a truly good President like George H. W Bush emerges, raises taxes to actually pay down the debt, and begins reducing spending in a move to balance the budget without killing the economy, we throw him out of office.
    Yep, you really can’t fix stupid.

  • Robert Marshall

    Mitt Romney said i am not going to take my effort and focus on the fed. Since the fed was created, our currency has more than 95% of its value and our national debt has soared to more than 5,000 times larger. Today the national debt is $15.8 trillion and growing at the rate of $150 million each hour. The Federal reserve does not come under the freedom of Information Act and is a perpetual debt machine. Foreign banks and governments own significant interest in the 12 member banks that own the Federal Reserve.

  • ARMYOF69

    Take away the POS POTUS’s check book. It’s OUR money , not his.

  • Raymond

    Traffic Camera

    A man was driving when he saw the flash of a traffic camera. He figured that his picture had been taken for exceeding the limit, even though he knew that he was not speeding… Just to be sure, he went around the block and passed the same spot, driving even more slowly, but again the camera flashed. Now he began to think that this was quite funny, so he drove even slower as he passed the area again, but the traffic camera again flashed. He tried a fourth time with the same result. He did this a fifth time and was now laughing when the camera flashed as he rolled past, this time at a snail’s pace… Two weeks later, he got five tickets in the mail for driving without a seat belt..

    You can’t fix stupid.

  • Raymond

    In honor of the 44th President of the United States , Baskin-Robbins Ice Cream has introduced a new flavor: “ Barocky Road .”
    Barocky Road is a blend of half vanilla, half chocolate, and surrounded by nuts and flakes. The vanilla portion of the mix is not openly advertised and usually denied as an ingredient. The nuts and flakes are all very bitter and hard to swallow.
    The cost is $92.84 per scoop…so out of a hundred dollar bill you are at least promised some CHANGE..!
    When purchased it will be presented to you in a large beautiful cone, but after you pay for it, the ice cream is taken away and given to the person in line behind you at no charge.You are left with an almost empty wallet, staring at an empty cone and wondering what just happened. Then you realize this is what “redistribution of wealth” is all about.
    Aren’t you just stimulated?

  • Raymond
  • Raymond

    NoBama Countdown Clock
    http://nobamacountdownclock.com/