Our US NATIONAL DEBT
United States National Debt
This lens I hope will serve to make its readers aware of one of our country's biggest tragedies, the national debt. I am not an economist, and I certainly don't have the answer but I am an American who loves her country and hates to standby and watch it go down the drain financially. We, as Americans, must take whatever action we can. We must write our Representatives in Washington and remind them that this is vitally important for this generation and future generations to come. Congress and the President must start implementing policies that will slow down the continued growth of this huge burden.
5 Top Reasons - Worth Listening To.
We need change folks - you might want to listen to one person's view.
Maybe People Are Just Plain Feedup!
Obama Tells ‘60 Minutes’: Election Losses Resulted From Messaging Problem
From 9 Trillion to 15.9 Trillion - but who's counting?
October 15, 2012
(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.
Continue article Debt Increase Under Obama
Update November 22, 2011
The Heritage Foundation
National Debt Set to Skyrocket
In the past, wars and the Great Depression contributed to rapid but temporary increases in the national debt. Over the next few decades, runaway spending on Medicare, Medicaid, and Social Security will drive the debt to unsustainable levels. (go to the site to see the percentages:
The charts in this book are based primarily on data available as of March 2011 from the Office of Management and Budget (OMB) and the Congressional Budget Office (CBO). The charts using OMB data display the historical growth of the federal government to 2010 while the charts using CBO data display both historical and projected growth from as early as 1940 to 2084. Projections based on OMB data are taken from the White House Fiscal Year 2012 budget. The charts provide data on an annual basis except..Debt Prediction
The Debt Ceiling
UP DATE March 21, 2011 @ 9 pm
I just thought, for fun, I would peak in on the National Debt Clock and we are running over
14 trillion 248 billion 137 million and ticking .......
DATE December 13, 2010 @ 8 pm= 13 trillion 850 billion and ticking .......
Who Owns the U.S. National Debt?
This week, readers are worried about the about the dangers of the steady rise in U.S. debt - after back-to-back warnings from sources as diverse as Fed Chairman Ben Bernanke presidential candidate Hillary Clinton and investment guru Warren Buffet. Dick in Michigan wants to know just where this borrowed money comes from; Kim in Maryland is worried that foreign lenders like China may be gaining an unhealthy upper hand in its relations with the U.S.
The Bush administration talks about spending a million here and a billion there adding up to trillions for the war. Since the country is so far in debt, where is all this money they are talking about spending, coming from? I know it is borrowed, but from whom?
-- Dick, Howard City, Mich.
The money is borrowed from buyers of Treasury securities -- which are basically a big batch of IOUs that are auctioned off every three months. As the auction date approaches, the Treasury figures out how much it will need to pay off old debt and cover the government's latest round of overspending.
When the auction day comes, buyers submit bids in the form of the interest rate they're willing to accept. You can choose to make a competitive bid (you ask for a specific rate) or a non-competitive bid (you agree to accept the average rate of other winning bids.) When all the bids are in, the Treasury starts at the bottom, taking the lowest bids until it has collected enough money to cover that round of borrowing.
Foreign Money? Really?
Democrats, from President Barack Obama on down, are trying to turn an evidence-free allegation into a major campaign theme, claiming that foreign corporations are "stealing our democracy" with secret, illegal contributions funneled through the U.S. Chamber of Commerce. It’s a claim with little basis in fact.
* The Democratic National Committee released a TV ad over the weekend claiming: "It appears they’ve even taken secret foreign money to influence our elections."
* President Obama said last week that "one of the largest groups paying for these ads regularly takes in money from foreign sources."
* The liberal group MoveOn.org is claiming, without any qualification, that "[f]oreign corporations are funding some of the $75 million the U.S. Chamber of Commerce is spending to defeat Democrats."
The chamber says it does receive money from foreign sources, but that it amounts to only a small fraction of the chamber’s $200 million budget. The chamber says none of the foreign money is used in its ads, and no evidence has been produced to show otherwise. Federal Election Commission opinions state that organizations taking in foreign money may make political donations legally, so long as they have "a reasonable accounting method" to keep foreign money separate and have enough money from U.S. sources to cover the donations.
CONTINUE Foreign Money
US National Debt Graph
Sustaining a Global Recovery
Sustaining a Global Recovery
Finance & Development - The recovery has started. Sustaining it will require delicate rebalancing acts, both within and across countries
By: Olivier Blanchard
IN normal recessions, however disruptive they are to businesses and jobs, things turn around predictably. The current global recession is far from normal.
Usually, to fight a recession, the central bank lowers interest rates, which results in increased demand and output. People resume buying durable goods such as appliances and cars. Firms start delayed investment projects. Often, an exchange rate depreciation gives a boost to exports by making them cheaper. The lower-than-normal growth during the recession gives way to higher-than-normal growth for some time, until the economy has returned to its normal growth path.
Congress Should Fix The Current Health Deficit
From The Heritage Foundation
Long-term excess costs for Social Security and Medicare alone are
$43 trillion. When added to the national debt, that is about $184,000 for every man, woman and child in the U.S. America’s seniors are going to have to make some tough sacrifices so younger generations like their children and grandchildren aren’t saddled with massive debt to pay for these programs. But forcing them to make these sacrifices in order to create massive new benefits for others is not the way to go about it.
National Debt History. 1829 US Debt Paid Up!
Feb 19, 2009 - Wall Street Journal by John Steele Gordon
When President Barack Obama signed the American Recovery and Reinvestment Act of 2009 into law yesterday, he was adding to what is already almost guaranteed to be the largest deficit in American history. In January, the Congressional Budget Office projected that the deficit this year would be $1.2 trillion before the stimulus package. That's more than twice the deficit in fiscal 2008, more than the entire GDP of all but a handful of countries, and more, in nominal dollars, than the entire United States national debt in 1982.
But while the sum is huge, it is not in and of itself threatening to the solvency of the Republic. At 8.3% of GDP, this year's deficit is by far the largest since World War II. But the total debt is, as of now, still under 75% of GDP. It was almost 130% following World War II. (Japan's national debt right now is not far from 180% of that nation's GDP.)
continue A Short History In US Debt
The United States - 10 Trillion
The "official" debt of the United States is only around $10 trillion dollars as of August 6, 2008. This is a manageable number; we could pay it off in a few decades if we quit buying luxuries like food and clothing, and take a few other minor economy measures. Unfortunately, the "$10 trillion" number was produced by government accounting, which among other things allows one to ignore Social Security, Medicare, and the new prescription drug benefit. This is like ignoring rent, food, and utilities in your household budget 2026 it will lead to a few bounced checks. Our real debt is about ten times higher.
We now live in an Obama Nation. A Nation of promised "change" ... with a commitment that the change will be in a productive direction. One way to measure the effectiveness of this new administration, will be by the legacy that it leaves behind. Will the US National Debt, being left to our future generations, be more or less than when this new administration of "change" took office? For the next four years (2009, 2010, 2011, and 2012 ... at least) this website will trend the US National Debt.
Owed to the Public: AKA Debt Held by the Public is the amount of Treasury Bills and Bonds that have been bought by American citizens and companys and by foreigners. The rest of the debt is owed to by the General Fund to other government Trust Funds that have run a surplus. Note that since America manly borrows from Americans, the debt is mostly owed to Americans.
see more = What They Won't Tell You
Newest National Debt
Update, update, update!
Well, forget the old debt, what about the new debt coming on the scene. This so called stimulus package of potentially not just one. President Obama is pushing $300 billion in tax cuts; I am not clear if that is included in the $800 billion for jobs and lifting the nation out of recession. And in December 2008, Barack Obama warned Americans of a potential need of a massive stimulus package that could ultimately exceed $1 trillion.
I am more concern as to where the money is going. Just this morning on the news (Jan 27) I see that ACORN (remember them from all the register/voting commotion) may be eligible for billions in aid from the economic stimulus proposal. I, as a taxpayer, want to know where ACORN plans to spend the money? But first, are they capable of deciding the best way to spend it? Why is it lately that it seems, to be a public servant in our country, you need to be dummer and scummier. The more you do wrong, whether intentionally or accidentally, the more you seem to be qualified. You now have the experience needed to serve the people. Have we Americans lost our minds to allow this to continue? Or is it that the American people feel that the government is ripping the country apart, we are all going down and I might as well get mine. I pray I am wrong.
My country, 'tis of thee,
Sweet land of liberty,
Of thee I sing;
Land where our comrades died,
Land of the pilgrims' pride,
From every mountain side
Let freedom ring.
Our fathers' God to thee,
Author of liberty,
To thee we sing;
Long may our land be bright
With freedom's holy light;
Protect us with thy might,
Great God, our King.
Let's not forget!
Obama's National Debt
What does the first 100 days look like?
This video was up and running - but I can see why Obama's administration would want to get it off the Internet.
Did You Know? Random Facts.
Word of the Day
Assymptote - Math. A line that is the limiting position which the tangent to a curve approaches, as the point of contact recedes indefinitely along an infinite branch of the curve. You are already familiar with the word assume and how it can be divided into three parts, with Congress being the party of the first part, and the President as the party of the second part; now we the people are left to TOTE the burden created by them.
SHOW YOUR OPINION..VOTE! - It is a small move..but it is a start.
Now is your chance to help be a part of the solution (as small as it may be). Let's band together and let congress know how the American people feel.
Do you want this next Administration to make the National Debt a Priority?
JEFFERSON on Debt
"I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government; I mean an additional article taking from the Federal Government the power of borrowing. I now deny their power of making paper money or anything else a legal tender. I know that to pay all proper expenses within the year would, in case of war, be hard on us. But not so hard as ten wars instead of one. For wars could be reduced in that proportion; besides that the State governments would be free to lend their credit in borrowing quotas." --Thomas Jefferson to John Taylor, 1798. Credit:http://etext.virginia.edu/jefferson/quotations/jeff1340.htm
We All Can Help.
WHAT CAN BE DONE?
1. Write or call your U.S. Senators and your Representative. Tell them how concerned you are about the debt and ask them what they are doing to reduce both the Debt and Deficit.
2. Remember, when it is time to vote....vote the b** ones out.
3. Check out the Concord Coalition. Their site is given below.
4. You might consider putting the "Debt Clock" on your lens to help promote greater awareness.
In 1900, the debt was:
07/01/1900 2,136,961,091.67 (2 billion)
07/01/1920 25,952,456,406.16 (post WW1)
06/30/1949 252,770,359,860.33 (Cold War Era just starting)
09/30/1981 997,855,000,000.00 (start of Reagan Presidency)
09/30/2000 5,674,178,209,886.86 (in 19 years)
09/30/2007 9,007,653,372,262.48 (Iraq War, since 2003)
As of 1900, your portion would have been $28.03 per person.
As of 2007, your portion is $29,925.75 per person or
in other words, $119,703.00 for a family of four.
These figures do not reflect the additional debt represented by Medicare and Social Security obligations of the US Government.
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Hamilton's Blessing: The Hamilton Miracle, Andrew Jackson Redeems the Debt, Armageddon and the National Debt, The Debt Explodes...this and more inside Hamilton's Blessing!
Link up with Knowledge - Stay Informed - Updated 12/23/09
- Heritage Foundation
See how the Heritage Foundation is working for you.
- US Senate
At this site you can also find out who your State Representative is.
- For the People
The Concord Coalition is a nationwide, non-partisan, grassroots organization advocating generationally responsible fiscal policy.
- BORN AGAIN AMERICAN
Take time for a great son "BORN AGAIN AMERICAN"
- USA Today
About the economy and money across the USA.
The happiness & prosperity of our citizens is the only legitimate object of government. T.Jefferson
National Debt Grows $3 Million a Minute.
An overwhelming majority, if not every single American cannot begin to comprehend the astronomical deficits and debt projections flowing from Washington these days. The Obama Administration and congressional Democrats have done an outstanding job of breaking down uninsured statistics into smaller more understandable numbers such as their 14,000 newly uninsured claim. Yet, when it comes to deficits and the national debt, no one in Washington seems to want the public to understand just how much money they are spending. Politicians talk in dollar amounts that no American, even the richest among us, will ever truly comprehend. As a result, in conjunction with PDOP, I have broken the numbers down for you.
For the rest of the article, please go to:
America's Debt Crisis
CBO: $10 trillion jump in debt under Obama budget By Jeanne Sahadi, senior writer March 5, 2010: 6:13 PM ET
NEW YORK (CNNMoney.com) -- If President Obama's 2011 budget were put into effect as proposed, the U.S. federal government would add an estimated $9.8 trillion to the country's accrued debt over the next decade, according to a preliminary analysis from the Congressional Budget Office. Of that amount, an estimated $5.6 trillion will be in interest alone.
Take Time for the Roses
Please, opinions, critiques....all welcomed. How else can I grow?