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Our US NATIONAL DEBT

Updated on April 15, 2015

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.

Excuses???

Maybe People Are Just Plain Feedup!

Obama Tells ‘60 Minutes’: Election Losses Resulted From Messaging Problem

November 2010 per Obama

From 9 Trillion to 15.9 Trillion - but who's counting?

October 15, 2012

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.

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:

Debt Prediction

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

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.

continue debt

Foreign Money? Really?

FACT CHECK.ORG

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

posted 9/24/2009

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.

[Commentary] Corbis

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.

continue Obama Nation

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Debt Clock Revisited

National Debt

Hiding Something?

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

Gone, Gone!

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.

http://en.wikipedia.org/wiki/First_100_days_of_Barack_Obama%27s_presidency

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?

See results

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.

FACTS:

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.

Read About at Amazon

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!

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:

Debt Growng At $3 Million per Minute

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?

WELCOME GUESTS.....Please sign in, and thanks for stopping by. - Besides, commenting is good for my ratings, ha, ha.

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    • evelynsaenz1 profile image

      Evelyn Saenz 9 years ago from Royalton

      What a great lens!

      I have added it to my favorites and joined your fan club.

      Playing games is a great way to practice and learn math. I believe that using a Hands-On Approach to learning is the best way for children to truly grasp mathematical concepts. I guess that we can see that the present administration could use a few lessons in mathematics as well.

      I look forward to reading more of your lenses.

    • profile image

      LeslieBrenner 9 years ago

      The national debt is a ticking time bomb! 5 stars.

    • ms-giggles profile image

      ms-giggles 9 years ago

      Hi Ms Giggles here aka Beth, nice to meet you.

      I had know idea how much dept be were in.

      Thanks for the info.

    • gmarlett lm profile image

      gmarlett lm 9 years ago

      Hey, great lens. I think we need to end the war asap! Besides the fact that it's the major player behind plunging us further into debt, it's costing lives!

    • profile image

      Crenshaw 8 years ago

      Well I was going to create a lens on this but I see you already did. I have been talking about this for years and it amazes me more people don't know how bleak the situation really is.

    • TonyPayne profile image

      Tony Payne 8 years ago from Southampton, UK

      A very nice and topical lens. 5***** from me.

      What I don't understand is how the debt can be so high, yet the presidential candidates are spending many millions of dollars on promoting themselves. If I was a citizen (only a resident) I would probably vote for the candidate that spent an economical amount of money and not an absolute fortune.

      I also fail to see how Bush can give every family back $300 or more when the country is in such debt. So how much is this going to actually cost you in the end? I know $300 is a lot of money to most of us, but I would rather they find a way to lower the price of gas, or put it towards some other money saving scheme, that in the next 5 years will save us all far more than the $300 we are getting now.

    • profile image

      GHD 8 years ago

      Nice Lens. Check out mine on GHD Hair Straighteners Thanks :-)

    • profile image

      happy-jack 8 years ago

      How is that working, promise low spending

      at election and then brake the bank in office.

      Thank God for the Chinese, next they will stop

      the US dollar and use plastic.

    • Bellezza-Decor profile image

      Bellezza-Decor 8 years ago from Canada

      Great lens - glad to see the awareness!

    • teamlane profile image

      teamlane 8 years ago

      Blessed by a Squid Angel today! :)

      Colleen ~ www.squidoo.com/squid-angel

    • profile image

      ElTel1978 8 years ago

      Hey, cool lens, I love the pink ghd hair straighteners so much I even released my own blog about them. Please check out my GHD Pink Hair Straighteners blog and let me know what you think please :)

    • profile image

      ElTel1978 8 years ago

      Hey, cool lens, I love the pink ghd hair straighteners so much I even released my own blog about them. Please check out my GHD Pink Hair Straighteners blog and let me know what you think please :)

    • Wbisbill LM profile image

      Barbara Isbill 8 years ago from New Market Tn 37820

      5 stars from a fan. Great info. Thanks!

    • LisaDH profile image

      LisaDH 8 years ago

      The next president is going to have a heck of a time getting out of this mess, so I sure hope Obama or McCain has some brilliant ideas.

    • Charlino99 profile image

      Tonie Cook 8 years ago from USA

      Good topic and a good lens. 5*

    • Amanda Blue profile image

      Amanda Blue 8 years ago

      Thank you for this fine and important lens! 5*

    • WritingforYourW profile image

      WritingforYourW 8 years ago

      Important topic to discuss. I've seen the 30-minute trailer for IO USA and will definitely see the rest at some point. If you haven't seen "Fiat Empire" (it's about an hour and chunked up on YouTube), that's another eye opener.

    • profile image

      poutine 8 years ago

      I believe that the U.S. national debt is astronomous.

      I really don't know how the next president is going to solve

      this problem. He sure will get white hair from it.

      Here, in Canada, the situation is much rosier, thanks to our

      ex finance minister Paul Martin and ex prime minister Jean Chretien.

    • profile image

      anonymous 8 years ago

      I also enjoyed Ken Festus Curtis and Things That I Love, but was unable to leave a note because I'm not a Squidoo member. I'm Tipi's sister and followed your lovely flowers home. The National Debt is a heavy subject and virtually a disaster--may true leaders come forth that can at least slow the bleeding a bit.

    • profile image

      anonymous 8 years ago

      Our country will never be able to balance the budget and reduce the national debt. It's not something that can be done, because there isn't enough money in the whole world to pay the debt. We're talking Trillions! - Good subject...

    • MargoPArrowsmith profile image

      MargoPArrowsmith 6 years ago

      Yet the Cons are forcing a bill that will continue the failed Bush tax cuts for the top 2% upping it by trillions. Start calling now and don't stop, once a week minimum

    • profile image

      anonymous 6 years ago

      This is scary to say the least....I hope we can get the debt corrected or we will be a failed nation. Start with

    • profile image

      yourgoldenfuture 6 years ago

      there are two main ways to get rid of debts in history...make a war and then put a new currency ... germany had it some times...the normal people pay the bill as usual...

    • profile image

      yourgoldenfuture 6 years ago

      there are two main ways to get rid of debts in history...make a war and then put a new currency ... germany had it some times...the normal people pay the bill as usual...

    • blujeanmomma profile image

      blujeanmomma 6 years ago from Rocky Mountains

      What really gets me is that we are so high in debt, yet we continue to give other countries money. Just 2 days ago we pledged 200 million to Chile to help with their drug problems. And every day we see us giving all of this money away yet we have a crises in our own country.

      Imagine how far that 200 mill could have gone right here in the US? And that's just 1 tiny little instance of how we always want to look like this big rich country helping out the world.

      It's time we started to help ourselves.

    • blue22d profile image
      Author

      blue22d 6 years ago

      I agree 100%. We need to close our checkbook and concentrate at home. Lets clean up our own home first before we hand out "clean-up" vouchers to others, especially when we can afford to do so. Thanks for your comments.

    • profile image

      anonymous 6 years ago

      I thought America is a rich country and free of debt.

    • profile image

      EdCulligan 6 years ago

      I agree that our National Debt is way out of control. Americans need to wake up and vote in people who have a good history/work ethic. Very nice reading your work. http://hubpages.com/hub/National-Debt-Can-the-US-R...

    • blue22d profile image
      Author

      blue22d 6 years ago

      Thanks for your visit and comments. I am going over to read your Hub.

    • BSieracki profile image

      Bernie 5 years ago from Corbin, KY

      it would be better if the nation was debt free

    • profile image

      jjprusk 5 years ago

      "High Five" for helping bring a spotlight on runaway government spending.

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