The Cost Of Obama's Latest TV Appearance: $112.5 Million Increase In The US Deficit, $150 Million Increase In US Debt

Tyler Durden's picture

The most meaningful summary of Obama's most recent (in a long series) speech, which this time was only 14 minutes delayed: the US Deficit increased $112.5 million during the president's latest teleprompted appearance (9m deficit $973 bn ; $108 bn / mo ; $3.6 bn / day ; $150 mm / hr ; $2.5 mm / minute). Since US debt increases at a rate about 30% higher than the actual deficit, the actual new debt incurred was about $146 million. And that's all you need to know about the latest episode in the political tragicomedy charade.

Some other observations from the CBO on the May 2011 budget.

Net interest on the public debt grew the most, rising by $31 billion (or 18 percent) above the outlays recorded through June 2010, primarily because of the large increase in the public debt during the past year. In contrast, defense spending increased by 1 percent through June, considerably below the three-quarter average of 9 percent experienced over the past 10 years.

The three largest entitlement programs continued to grow. Compared with outlays in the first nine months of 2010, spending for Medicaid grew by $13 billion (or 6 percent), and spending for Social Security and Medicare combined grew by $33 billion (or about 4 percent each). For the latter two programs, that growth was less than the average of 6 percent and 8 percent, respectively, experienced in the same period of the year over the past 10 years.

Offsetting those increases in outlays were declines inseveral areas, including net payments to GSEs (down by $38 billion, or 93 percent), deposit insurance (down by $32 billion, excluding receipts from prepayments of premiums), and unemployment benefits (down by $29 billion, or 23 percent). Spending for “Other Activities” excluding deposit insurance and reestimates of credit subsidies rose by $21 billion (or 2.5 percent).

h/t John Poehling

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Raymond K Hassel's picture

Those aren't my fucking peas you ahole

SheepDog-One's picture

They sure dont SMELL like peas to me! I think theyre rabbit turds! Hey Obama if theyre so great, YOU eat em!

Mae Kadoodie's picture

"If you don't eat yer peas, you can't have any pudding. How can you
have any pudding if you don't eat yer peas?"

Maniac Researcher's picture

More partisan hackery is surely most useful in a crisis...

Silver Dreamer's picture

I'm not eating them since I didn't put them on my fucking plate.

SheepDog-One's picture

'Time to eat your peas' hey I got a better idea Obama! Go fuck yourself!

Widowmaker's picture

Fraud money, that's all fiat is.

Buying and selling lies for record bonuses at the expense of justice and the common good.

Zero Govt's picture

fraud money or not you've got to hand it to Obama, he pisses the stuff away like no suicide socialist has managed to squander before in history... he's an absolute Legend (at least amongst his banking sponsors!) 

DoChenRollingBearing's picture

Glad I am down here in Peru and had to miss Owebama blather on.  Ah well.

What did they do to gold and silver today?  Very strange price movements...

malikai's picture

If you think gold and silver are acting weird, look at crude. Brent/WTI are playing a tug-of-war. A most comical one at that.

DoChenRollingBearing's picture

I just took a look.

Manipulation, bitchez!

SheepDog-One's picture

Why is anyone surprised about the totaly rigged markets price movements? Hell, the only thing surprising to me is the DOW is not yet up +200.

augie's picture

you seem a little bit more pessimistic than usual, you alright man? 

Wannabee's picture

Dog, not time yet for the melt up. Wait 10 mins before the close, up .2%

pazmaker's picture

Hi Dochen,  I just sent you an email.  Hope all is going well for you in Peru!

DoChenRollingBearing's picture

Thx paz!  I´ll go take a look LATER.  This computer I am using here at Ameru does not have anti-virus software...  Expired...

I do not want to be out there selling Viagra to the world again, my AOL account was hacked a couple of years ago causing me no end of grief...

pazmaker's picture

No rush!  I have a friend that happened to....she was totally embarrased pushing that viagra!

DoChenRollingBearing's picture

You beat me to my edit!  In which I was going to say that our conference room bathroom here in Lima is now up to First World standards so our Japanese bearing supplier will not be grossed out...

President Owebama is welcome to drop his peas here ONLY after our visitor leaves, LOL.

StychoKiller's picture

Do some research on Kubuntu™ (Linux OS), drives like Windoze™, but without all the malware.

BayAreaAlan's picture

He can't show up for his press conference on time - how is he going to demonstrate leadership for congress to pass a resolution in time? Ignore the fact that the president has little input on the budget other than potential veto.

malikai's picture

Hey! That's the president you're talking about. He has every right to get a few blowjobs from toothless crackwhores before using the teleprompter. The serfs can wait.

Gohn Galt's picture

There was another man in the 1930's who would delay going up to the podium on purpose.  It bought nervousness to his staff and anxious anticipation amongst his audience.  The waiting would make people completely nuts and just so damn happy that the moment has come that they relate the feeling of relief with what he said.


It is very effective as it puts the audience in a certain mindset.

aheady's picture

I agree. It's all set up to further influence sheeple minds.

Lady Heather...UNCLE's picture

I thought Barry was looking a little green round the he getting enough golf/sun?

augie's picture

He looks just like Timmah G. looked after announcing he didn't wanna play secretary of treasury anymore; absolutely terrified. 

bankonzhongguo's picture

And the whole MSM take-away is "eat your peas?"

I think Obama and Krew do not want a "debt deal" with the republicrats. They will take it past the limit and then go full Lincoln and override congress on everything..

The debt deal is a charade, the real action is the executive gun control actions taking plac inn the face of FBI/ATF shipping guns to Mexican drug cartels.


youngmanU2's picture

There is no way to overcome the bent toward socialism that libs have propagated on this country and, given the debts necessary to maintain such policies - without strong economic growth to go with it (which is, by definition, anti-Obama) - this country is doomed economically. 

At the same time, is the headline technically accurate? Is that the "Cost of Obama's TV Appearance?" I suppose one could construe it that way if the appearance actually is continuing to cultivate debt proliferation (which the epically stupendous misguided-ness of his administration will do), then that's probably accurate!

youngmanU2's picture

Know that site well. My point is that while the debt accumulated that much during the press conference - it accumulates at that rate regardless of what the president is doing; or what anyone else is doing at the moment. That doesn't relate to the description of the news conference itself as contributing to the cost - a non sequitur. Though, of course, it is much more appealing a headline, granted. 

Silver Dreamer's picture

Someone needs to get Howie Mandel in touch with our current (POTUS) Puppet of the United States of America.  We might as well be playing the "Deal or No Deal" game.

Xzazael's picture

Let them eat peas.

Animal Cracker's picture

I was really hoping for cake.  And guillotines.

AssFire's picture

I thought Mr. President would have taken a minute to condem all the black on white mob violence.. Oh wait, those are his voting constituents he organized. 

In spite of the new evidence that shows "modern" humans are all linked (except Africans) to Neanderthals we continue to spend fist over dollar trying to evolve this race when it is not even possible.

It seems what everyone knew 50 years ago is the truth but even with the DNA proof; white guilt enthusiasts won't speak to it.

SheepDog-One's picture

Nonsense, there is no evidence. Neanderthals were apes, not human at all you may as well say wooly mammoths were found in Europe also, so therefore are part of human ancestry. Total myth.

AssFire's picture

No evidence except that their brains were larger and they were forced to adapt when their ancestors lived like animals and still do in the only Africa.

You are part of the apologist crowd that needs to look objectively at things.

AssFire's picture

Well, I can't argue with that. A person who makes comments all over this website who needs not to examine the history and development of the world but wins the argument with "Oh bullshit". You are a prime example of my first post- now bury your head and take it up the ass, like the msm wants.

Now google King Tut DNA, what?? I suspect your head will explode when you learn that the Eric Holder's people not not build the pyramids (except as slaves)

SheepDog-One's picture

Fuck you and your BS Neanderthals.

AssFire's picture

James Watson won his Nobel Prize when it still meant something...

How can I contend with such clever retorts coming from you?? Show me the contributions from the non-neanderthal continent?? You are ridden with black guilt or missed out on the Neanderthal update 2.0 about 60,000 years ago.

fuu's picture

Show me the contributions from the non-neanderthal continent??


90-99% of the DNA?

AssFire's picture

Yes, the only contribution; basically a pre modern human pitri dish.

I'm talking about the concepts of farming, using tools, buring the dead etc. None of that evolved from these. Everyone agrees that something remarkagle happened to the developement of modern 40,000 years ago. Now we are not allowed to understand it or talk about it because of 150,000 year old petri dishes? Nonsense.

I know it might hurt feelings and that is not my goal. I am simply hoping that white people will get over their guilt and stop making excuses for people that are simple not the same. The whole world is linked by this (except Africa) and there is no reason not to analyize it.

fuu's picture

I guess that means Africans are the purest breed of humans. The rest of us are just cross species muds. Then again look at our cultures and societies and you can see that we are totally degenerate in nature.

AssFire's picture

Well at least you can admit it is damn interesting and unreported. I feel that all of us knew they were not the same as us. With the science I think it is time to expect less and treat differently this race that we spent 60 years (and trillions of $$) trying to evolve.

If two men have guns pulled on you one black the other white: which do you think you could reason with??

Only the white Europeans suffer from this guilt, I'm just saying they need to get over it- it is not their fault. It was not a result of slavery but of evolution. I for one am relieved that I have the genes, no guilt and know the truth.

fuu's picture

I don't find it interesting at all. I see it as another hater finding something to hang his hat on and going with it whether it is accurate, true, tested, or peer reveiwed. You just don't like black people and that is fine. I don't care who you like.


Don't act like some great enlightener. You are just another divider.

"In spite of the new evidence that shows "modern" humans are all linked (except Africans) to Neanderthals we continue to spend fist over dollar trying to evolve this race when it is not even possible."


Blatvatski called, she wants her mantra back.

AssFire's picture

No the scientists are the enlighteners. They are the ones whom backs societies were buit on. You sound like the goobermint planner Dr. Ferris from Atlas Shrugged damning the education and science. I am sorry if science betrayed you and you must face the truth.

fuu's picture

Nice try.

Some scientists are vehicles of enlightenment, but not all.

Race was invented by scientists trying desperately to prove that Europeans were superior to Africans, Asians, Indians, etc. As time has gone on they have not only been shown to be completely incorrect, the deeper understanding is that we are all related on this planet, we are all cousins in one large family.

But you know, keep digging and finding your moments of illusionment. It's your free will to do so. Get on it duder. 

pepperspray's picture

Eat our peas-- I want my time back!

billwilson's picture

Cut defense by 50% ... end the Bush tax cuts ... you're welcome.