Post by ivymike55 on Nov 2, 2013 16:25:04 GMT -7
The U.S. Department of the Treasury has reported that for the federal government’s fiscal 2013 year, which ended on September 30, 2013, the U.S. government budget deficit was $680 billion—the smallest budget deficit in five years. (Source: Bureau of the Fiscal Service, October 30, 2013.) Obama has crowed about this figure that he's doing something to reduce the federal budget. Obama hasn't done squat to take credit for this. The reason the budget is down is because he and the liberals on The Hill wouldn't negotiate to reduce spending and sequestration was rammed down our throats.
Our national debt has increased significantly over the past few years. At the beginning of 2008, the U.S. national debt stood at $9.2 trillion. Today, it stands above $17.0 trillion. (Source: Treasury Direct web site, last accessed October 31, 2013.) This represents an increase of almost 85% in the national debt in the matter of a few years.
In the fiscal 2013 year, the U.S. government paid interest of $415.7 billion on the national debt. In the fiscal year 2012, the interest payments were $359.2 billion. This means the interest payment on the national debt has increased almost 16%. The more the national debt increases, obviously, the higher the interest rate payments.
Now here's Obama's Ponzi scheme in action. Interest rates are being artificially kept low. Then the Federal Reserve turns around and buys government T-bills with the $85 BILLION in new money it prints out of thin air every month. The process is a scam, a Ponzi scheme at best. If the Obama adminsitration had to pay actual interest rates our payments would be well over $1.5 TRILLION. Obama and the Fed are hoping and praying they don't get busted on this.
Okay now take that $680 Billion budget deficit and add the $415 BILLION in interest payments on the debt and you come up with $1.95 TRILLION that we are adding to the deficit annually. The kicker is that the interest we are paying is getting higher every year. In 1 year out interest payments went up almost $60 BILLION. Now extrapolate this out for just the next 3 years and 2 1/2 months not taking into consideration a yearly increase in interest rates. By the end of Obama's term our national debt will be $23 TRILLION. It will probably be much higher because that figure takes into consideration a continuing $680 BILLION budget deficit that Obama is crowing about and an interest rate payment on the debt that remains the same. Again, we all know that the interest payments cannot remain the same with a rapidly growing national debt.
Then there's Obamacare that the GAO says will add $620 Billion a year to the national debt. So in the end that startling $23 TRILLION debt I was talking about will be closer to $26 TRILLION when you add in Obamacare and incresed interest payments on our debt.
The Obama adminsitration and the liberals and Progressive Republicans on The Hill (that buy into the idea if we don't continue to increase spending we'll get our clocks cleaned come election time) can't be this stupid to continue to play this keynesian game. They see what is going on all over Europe yet they continue to pile debt upon debt. So in the end if we think they aren't this stupid what we have then is all of this is by design. Obama and the liberals are following Clowerd and Piven's radical ideas to the letter to crash our eceonomic system and force us to join in with Europe is some huge world wide economic system styled after the EU.
Our national debt has increased significantly over the past few years. At the beginning of 2008, the U.S. national debt stood at $9.2 trillion. Today, it stands above $17.0 trillion. (Source: Treasury Direct web site, last accessed October 31, 2013.) This represents an increase of almost 85% in the national debt in the matter of a few years.
In the fiscal 2013 year, the U.S. government paid interest of $415.7 billion on the national debt. In the fiscal year 2012, the interest payments were $359.2 billion. This means the interest payment on the national debt has increased almost 16%. The more the national debt increases, obviously, the higher the interest rate payments.
Now here's Obama's Ponzi scheme in action. Interest rates are being artificially kept low. Then the Federal Reserve turns around and buys government T-bills with the $85 BILLION in new money it prints out of thin air every month. The process is a scam, a Ponzi scheme at best. If the Obama adminsitration had to pay actual interest rates our payments would be well over $1.5 TRILLION. Obama and the Fed are hoping and praying they don't get busted on this.
Okay now take that $680 Billion budget deficit and add the $415 BILLION in interest payments on the debt and you come up with $1.95 TRILLION that we are adding to the deficit annually. The kicker is that the interest we are paying is getting higher every year. In 1 year out interest payments went up almost $60 BILLION. Now extrapolate this out for just the next 3 years and 2 1/2 months not taking into consideration a yearly increase in interest rates. By the end of Obama's term our national debt will be $23 TRILLION. It will probably be much higher because that figure takes into consideration a continuing $680 BILLION budget deficit that Obama is crowing about and an interest rate payment on the debt that remains the same. Again, we all know that the interest payments cannot remain the same with a rapidly growing national debt.
Then there's Obamacare that the GAO says will add $620 Billion a year to the national debt. So in the end that startling $23 TRILLION debt I was talking about will be closer to $26 TRILLION when you add in Obamacare and incresed interest payments on our debt.
The Obama adminsitration and the liberals and Progressive Republicans on The Hill (that buy into the idea if we don't continue to increase spending we'll get our clocks cleaned come election time) can't be this stupid to continue to play this keynesian game. They see what is going on all over Europe yet they continue to pile debt upon debt. So in the end if we think they aren't this stupid what we have then is all of this is by design. Obama and the liberals are following Clowerd and Piven's radical ideas to the letter to crash our eceonomic system and force us to join in with Europe is some huge world wide economic system styled after the EU.