Obamunism! $4 Trillion in New Debt

From CBS News:

The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama’s watch

The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion

It’s the most rapid increase in the debt under any U.S. president.

The national debt increased $4.9 trillion during the eight-year presidency of George W. Bush. The debt now is rising at a pace to surpass that amount during Mr. Obama’s four-year term…

Obama has been President for 2 years, 7 months and 3 days…I calculate this works out to about $4 billion dollars in new debt each day Obama has been in office.  That is just an incredible figure – and made worse by the fact that all we’ve got for it is money for liberal interest groups.  No real economic growth, no real jobs, no real wealth creation.  Its all been a bust – and a bankrupting bust, in to the bargain.

So, what is the new plan, liberals?  Start piling up $8 billion in debt per day?  Would that work?  You tell us…how much further in to debt do we need to go in order to make liberal economic policy works?  And can you give us a date certain while we’re borrowing that much where we’ll be done and prosperity will result?

2012 can’t get here fast enough…

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11 thoughts on “Obamunism! $4 Trillion in New Debt

  1. congressive

    Reagan would simply restore capital gains taxes back to the same as ordinary income. Worked out great back then. Why do we give a tax break to people who shuffle around money then take a big payout for their hard work, but don’t give that same break to people who shuffle around corn or brooms or work hard at actually making things? Shouldn’t people who plant and harvest money be taxed the same as people who plant and harvest tomatoes?

      1. neocon1

        blowzo

        what might have happened 30 years ago in stupidity to consider it for today.
        We are bankrupt, cut spending to LESS than revenues.
        cut welfare 99% let the savages burn and loot then let them live in what they wrought this time.
        end of story, accounting 101

      2. neocon1

        Obamunism! $4 Trillion in New Debt

        Obomanation = The marxist/islamic , cloward piven, dream collapse America dream come true.
        We will be defeated from within.

      3. RetiredSpook

        let the savages burn and loot then let them live in what they wrought this time.

        Neo, don’t you think that, deep down, that is one of the main dynamics driving the welfare state itself. The Left knows that as soon as the gravy train runs out of gas, the riders are going to start burning and looting; and they’re going to head for the gated communities as soon as the inner cities are reduced to ashes. Hell, the more savvy ones may head to the gated communities first.

    1. RetiredSpook

      Shouldn’t people who plant and harvest money be taxed the same as people who plant and harvest tomatoes?

      If the money they’re planting and harvesting was earned planting, harvesting and selling tomatoes, then, no — that money has already been taxed at their effective marginal rate once. What about that is so difficult to understand?

      1. RetiredSpook

        Didn’t realize Blankenfeld gardened.

        I assume you meant Blankfein. And if you Google Lloyd Blankfien + garden, you get over 5,000 hits. Hell, he’s even from “Garden” City, NJ. He was recently spotted at a Lady Gaga concert at Madison Square “Garden”. He was also seen eating at Olive “Garden”.

        Any idea what percentage of realized capital gains are as a result of investing money previously taxed at applicable marginal rates and how much is from money that has never been taxed before?

        More importantly, do you understand the importance of “capital” in a capitalist system?

  2. js

    the root of all the problems is in the banking system…the federal reserve to be most specific…but the giant banks that it also is bound to like they were wings on a fly…

    they buy Tnotes…then issue money…9 times as much…as they are holding…

    since the creation of this system…our dollar has devalued more than 95%…innovation and motivation are down…and the only ones with money…are the banks…because they can lend money they dont have…and never will…because the federal reserve lends our tax dollars to them…and increadibly cheap rates…so they can charge up to 35%…on credit cards…15% car loans…and rake in fee’s left and right to insure that americans know who is boss…

    and you can not have a bank in america…unless its tied to this sytem…the free market…ended in 1913…

  3. tiredoflibbs

    In 2008, obAMATEUR called “using our Chinese credit card, adding $4 trillion to the debt and saddling our children with the payments is UNPATRIOTIC”. Bush added $4 trillion in EIGHT YEARS. obAMATEUR did it in a little over TWO YEARS.

    Hmmmmm, of course, he and his drones would become vapid if the same were said about him – the Rock Star, the One We Have Been Waiting For, the sort of a god, etc. etc.

    This hyped up candidate has turned out as expected – A NOTHING, NOBODY, an EMPTY SUIT, a MASSIVE FAILURE.

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