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US Debt In Public Hands Doubles Under Barack Obama
As noted previously, total US debt is now over $18 trillion. Here is where it gets even more surreal: debt held by the public on January 20, 2009, Obama's inauguration day, was $6.3 trillion. It is now $12.9 trillion, a 105% increase.
And here, for your viewing pleasure, is Senator Barack Obama saying on July 3, 2008, that the $4 trillion in debt added by Bush was "irresponsible and unpatriotic"...
That is all.
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And silver trades sideways. Let's see...which is the better buy at this point???
Hint: Not what obama is peddling (these days).
Just because it doubles UNDER Obama doesnt mean it Doubled BECAUSE of Obama.
True enough. Then there's this:
Obama: "I think that it's important to understand the vantage point of a senator versus the vantage point of a president. When you're a senator, traditionally what's happened is, this is always a lousy vote. Nobody likes to be tagged as having increased the debt limit - for the United States by a trillion dollars. As president, you start realizing, you know what, we, we can't play around with this stuff. This is the full faith and credit of the United States. And so that was just an example of a new senator making what is a political vote as opposed to doing what was important for the country. And I'm the first one to acknowledge it."
Just a matter of perspective, I guess... /sarc
But lets just forget the 7+trillion spent on the wars in iraq/ afgh. based on lies and a false flag attack. Lets just forget those cuz they obviously dont matter. That is GOOD tax and spend not BAD tax and spend. /sarc
Don't worry everyone. It looks like a log curve to me, that means it'll eventually flatten out!
None of it is any good champ JFC!!. The problem is, you want to make this a sort of political "he done it first", or, "its bad Obama, but, OK Bush" or whatever. fuck!! it doesn't matter!! Thats the point. As seen by the post above, the government is a bloated wrecking ball thats coming straight for your house and it dont matta 'WHO FUCKIN DONE IT!! GEEZZZUS!!!
Well, no I don't. The Tylers apparently do. I'm a straight up anarchist. I hate left and right. As far as I can tell, this title suggests that the office of the president since obama took over has some causal relationship with the debt. Here at Zerohedge, we are supposed to have figured out by now that the Federal Reserve system loans our currency to us at interest making the debt unpayable and necessarily increase. And we are supposed to know by now that 9/11 was an inside job and Sandy hook was a hoax, along with many many many other false flags and hoaxes. The Tylers are playing right into this left right paradigm, not me.
I've preferred to look at the political spectrum as a ring rather than a line. One can still put the left on the left and the right on the right - but - afterwards curl that into a ring and voila, the left and right are shoulder to shoulder.
That is the smartest way to describe it. I love this. Every Independent should use this.
Silly Tyler. That's just Federal. You gots to add in City, County, and State debt and all the guarantees for the FDIC and shit...
Pardon me, I need a drink.
We indebted some folks
"I lied to some folks, again."
Hope, Hope and Change!!!!
Groped and Grubered!
Grubered and Raisonetted :)
http://i.imgur.com/a0eq3.gif
Doubling the prior administration's debt is the common thread between the last 20 or so presidents....now do ya get it?
They ain't workin' for us....
Don't look at me, I am one of those so called savers
Terrorist!
Not to worry, the Fed can always print trillions to pay off holders of Treasuries in case of a major slowdown in the US economy. That worked so well in Zimbabwe. And is working so well in Japan.
Canada the only country that will balance its budget next year and introduce tax cuts...Free health care to
http://news.nationalpost.com/2014/10/21/canada-on-track-to-balance-the-b...
Not on a GAAP basis they won't.
Lies agreed upon.
+1
Yes, that's horseshit. Smoke and mirrors accounting for the public.
I might add that the consumer debt load in Canada is actually worse than in the US. Not only that, the RE bubble is so over extended and inflated that the bloated pigs they call banks (like TD, CIBC and Bank of Canada), are all massively exposed to billions in losses when it finally bursts.
You'd never read that or see that on TV in Canada though. Their press isn't any better than the captured media in America.
People aren't thinking. "Consumer economy" "Never been a better time to buy", "everyone must have a college degree"...
It all still works, they still buy the scam.
One last time; get out of debt, do not add more debt. Get any money you have out of the system.
it doubled under shrub, too, and it will, at least, double under whoever is next. debt doesn't matter in the the fiat utopia.
Contrary to your fiat fallacy Shylock will get his pound of real flesh, most likely by flying out from beneath your children's US issued digital camo
Izn't dat how "Finance for Kommunity Organizers" iz suppozed to work?
Does the Fed manufacturing crises?
http://failedevolution.blogspot.gr/2014/11/us-debt-held-by-fed-further-i...
As others have already stated the beast needs to be fed and that means doubling the debt. We will reach peak government in just a couple more cycles. Most things follow an exponential trajectory and not a linear trajectory.
We still have two more yrs to go of this human debris and his self inflicted nightmare. No one is willing to stop the madness. When there were bond vigilantes at least you could in theory hold an out of control government somewhat accountable and in check.
Bath House Barry has committed more crimes than a Division Of SS Troops!
How much of that public debt went to stock buybacks, shale speculation and student loans? Levering up balance sheets, speculating on high priced oil, and buying worthless degrees seem like productive reasons for loans, no?
Not to mention green energy, car loans, overpriced McMansions, etc.
"Testicles Double in Obama's Hands!"
Who's doing the squeezing ?
Their faith in a Obama being able to run a stable economy is backed up by thousands of years of history; when I think fiscally responsible I think Africa.
2x public debt brought to you by the Bell Curve presidency.
I don't care for either POS POTUS, but in all fairness, Bush was lying his ass off about how good the economy was at this time and right up until the elections. And he only learned of the printer's magic powers late in his admin. during the Lehman crisis.
They told him they could just print the money and the world would be saved
Obummer just figured he would run the same scam as Bush, but multiply it 5 times.
The Community Organizer In Chief always was an overachiever
I saw this coming a few weeks ago as Americans continued to hear from the media how robust economic growth has helped push the U.S. budget deficit down to the lowest level since 2008. Claims of the sharpest turnaround in the government’s fiscal position in at least 46 years are targeted at reassuring American that Washington has got our back.
The ugly truth many people choose to ignore is that starting in 2017 entitlements will become the driving force and carry the deficit in to nosebleed territory. Any claim that the Obama administration has the budget deficit back under control is a total lie. We are mired in the mist of the greatest government debt bubble in the history of the world. The article below looks into the risk that with the artificially low interest rates many people seem to have little desire to do anything about this.
http://brucewilds.blogspot.com/2014/11/deficit-poised-to-top-18-trillion.html
"carry the deficit in to nosebleed territory"
Operation Hammerhead Stall Turn!
Fly the economy straight up, with as much "money" created out of nothing by the Federal Reserve Debt Engine as possible, until the effect of that motor stalls. Then engage in an emergency turn going back down, hoping to recover from that maneuver.
He was smarter as a senator!
Krugman thinks it was unpatriotic too. The patriotic thing to have done would have been to increase debt by at least 30 trillion. There would be so many green shoots we'd have to turn Death Valley into a golf course.
Bush was "irresponsible and unpatriotic"...
I rarely agree with BO, but here we both agree. I wonder what he would say about the morality of 'his' increase. Like Iraq being a bad war and Afghanstan being the good war ... Debt under Bush was bad debt and debt under himself is good debt.
Fuck you Bear. Look up Proverbs 22:7. Debt makes you a servant to the Lender. No debt is good debt fuckstick.
Obama is THE worst president ever. He even beats Carter and that is very hard to do. Fucking democrats suck ass.
"Irresponsible and unpatriotic"
One time where Obama has told the truth. As president he's proven he's correct, irresponsible and hates America (unpatriotic).
Anybody happen to know what the current debt would be if .gov ran a balanced budget since GW left office? Just curious.
Would it include the present value of commited future expenditures for the social programs and housing the prisoners of the endless war on drugs?
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When did Obama tell the truth?
This Obama guy is a fucking genius. Let's give him the Nobel prize for economics.
odd...MSM never points out his hypocrisy......
Given the fundamental structure of the MAD Money As Debt systems, the next President would have to preside over doubling the total debts yet again, or else those established systems would collapse into chaos. The American Political Economy IS A Pyramid Scheme (that must keep growing or collapse into chaos.) The government enforces the frauds of privately controlled banks making the public "money" supply out of nothing as debts. That system exists due to the international bankers, as the biggest gangsters, or the banksters, persistently applying the methods of organized crime to the political processes, in order to achieve their goal, which allowed them to legally counterfeit the public "money" supply.
In general, money is measurement backed by murder, because the debt controls depend upon the death control. Those are the real problems, and any solutions that avoid the real nature of those problems are bullshit. The USA is the world's leading example of the basic system of DEBT SLAVERY BACKED BY WARS BASED ON DECEITS. The USA's debt slavery system has already generated numbers which are debt insanities, which are set to provoke death insanities.
IF anyone was serious about addressing those problems, then they should discuss how those death insanities might be catalyzed to become a new system of death controls, to back up a new system of debt controls. However, the established systems, including their controlled opposition groups, are dominated by the best professional liars and immaculate hypocrites, who are able and willing to continue to deny and deliberately ignore the central social fact, which is the EXISTENCE OF THE MAD MONEY AS DEBT SYSTEMS, which are enforced frauds, which are the result of human realities actually being organized lies operating robberies, where the production of destruction controlled production.
American Presidents have been the banksters' puppets for quite a long time. Of course, as the inherent structure of the MAD Money As Debt system developed, the total of American Debts have been on a exponential rate of increase, especially since 1971, when the last traces of limits due to connections between the "money" supply and the physical world were cut, to allow rampant, runaway enforced frauds to ruthlessly, relentlessly, and recklessly drive the growth of the total DEBT SLAVERY systems to become a nearly perfect match for the mathematics of exponential growth.
Therefore, OF COURSE, President Obama has presided over another doubling of the total debts ... and each subsequent President would have to continue to do that, even more so, even faster, in order to keep the established MAD Money As Debt systems going. However, those financial frauds can not work without the force to back them up, since the "money" made out of nothing is not worth anything unless there is a murder system to back that up.
Anyone who proposes "solutions" to the problems based upon notions of what "money" SHOULD BE tends to be spouting bogus bullshit, since the existing "money" IS MEASUREMENT BACKED BY MURDER. By and large, Zero Hedge is overflowing with bogus bullshit "solutions" based on what "money" should be, that deliberately ignore what money IS. Of course, those bullshit "solutions" are promoted within frames of reference that similarly tend to be total bullshit.
The USA is headed towards its levels of debt insanities provoking death insanities. IF anyone were to discuss that more intelligently, then that discussion ought to take place within a frame of reference regarding death controls in general which was superior to the kinds of systems which dominate public debates at the present time, which are those where the death controls are done through the maximum possible deceits, while those are explained and defended by professional liars and immaculate hypocrites, whose lives were based on successfully operating within the established enforced frauds, of privately controlled banks making the public "money" supply out of nothing as debts, which frauds were enforced by governments.
The overall social situation is that governments are the biggest form of organized crime, controlled by the best organized gang of criminals. Therefore, the MAD Money As Debt systems have become electronic monkey money, backed by apes with atomic bombs, which is the MAD Mutual Assured Destruction system. From a sublime point of view, those MAD systems have become runaway forms of collective criminal insanities. Inside that context, people like President Obama were the best available professional liars and immaculate hypocrites, who were able to keep the established systems going, at least for a little while longer ...
At the present time, there is virtually no saner public debates, because the public spaces are almost totally dominated by the biggest bullies' bullshit world view, that deliberately denies and ignores all of the most important social and physical facts, because the entire social system is based upon enforced frauds, which can only be discussed in extremely oblique ways by the best professional liars and immaculate hypocrites, or else, similarly dealt with in deliberately obtuse ways by controlled opposition groups, which have adapted to also operate within the same basic frame of reference, which is that the death controls are done through the maximum possible deceits, in order to back up debt controls done through the maximum possible frauds, while nobody who was successful within those systems is able and willing to call a spade a spade, but rather, must continue to dance around the almost totally taboo topics, regarding the radical truths that MONEY IS MEASUREMENT BACKED BY MURDER, whereby the runaway debt slavery systems generating numbers which have become debt insanities are headed towards provoking death insanity situations.
At the present time, one must expect that under Obama, or some subsequent President, those events are going to unfold more fully, in ways which come home to more Americans in more direct ways. Given that we have globalized electronic fiat money frauds, backed by the force of weapons of mass destruction, the decline and fall of the American Empire is potentially trillions of times worse than the decline and fall of any previous Empire!
But nevertheless, the established MAD Money As Debt system has an inherent structure which is based on enforced frauds, which are criminally insanities innate to that system, since it was the result of the principles and methods of organized crime operating through the political processes. That MAD system demands that the total debts keep on doubling, or else the established systems will collapse into crazy chaos. In that system, no more debt means no more money! Those systems of enforced frauds become more absurd from a mathematical point of view every day, since they were always a kind of magical mathematics, or magimathematics, whereby "money" was made out of nothing as debts, and could disappear back to nothing again when those debts disappeared.
Those enforced frauds appear to violate the basic laws of nature, by creating something out of nothing, which could disappear back to nothing, while no matter, and no energy, or no goods and no services, could do that. Of course, the real way that MAD system worked was through systems of legalized lies, backed by legalized violence, so that the measurements made with that form of fiat "money" were actually being backed by the threat of murder, along with enough actual murders to make those threats credible.
The American Dollar and American Military, were the combined money/murder systems that became the heart of the beast of the globalized empire built by the banksters, as the government enforced frauds by privately controlled banks. The American President is a figurehead political puppet, whose strings have become so entangled that he appears to be out of control. The American President presides over the American State Religions, which are its faith-based monetary system, backed by its psychotic sense of national security. The American Dollar has already been almost 99% privatized, in the sense of directed by privately controlled banks, while the American Military is increasingly being privatized too, (perhaps, as a guestimate, say 75%).
Of course, it is extremely difficult to discover the degree to which a political puppet like Obama actually believed whatever he may have said, or is saying now. As far as one can tell, he mostly reads a teleprompter, whose messages are the result of lots of other professional liars and immaculate hypocrites working on developing that kind of communication. But nevertheless, it is practically impossible to imagine President Obama stating the radical truth directly to the American People, that the MAD Money As Debt system is a criminally insane enforced fraud, operating inside the context where the vast majority of what the government of the USA does is based on systems of legalized lies, backed by legalized violence, whose primary manifestation were DEBT SLAVERY BACKED BY WARS BASED ON DECEITS.
Too bad, so sad, but nevertheless, within the established MAD Money As Debt system, Obama has to keep on endeavouring to double down on the total debts, even faster ... While any subsequent Presidents, IF the established systems last that long, will have to keep on presiding over doubling the total debts, even faster too ... In my opinion, that means we are necessarily headed towards severe social storms, due to the eventual psychotic breakdowns of the established MAD systems. Ideally, I would recommend more radical truths, as a kind of social psychiatry for that collective social insanity. However, since our debt insanities are headed towards provoking death insanities, it is not at all clear whether or not "we" will survive through those events ???Meanwhile, one can only wait and watch, as the established systems continue to try to double the total debts, again, even faster, since that is what those systems were built to do, and so require in order to keep going ...
http://www.cbc.ca/player/News/Business/ID/2623085441/
The Exchange with Amanda Lang | Dec 1, 2014 | 7:30
Crude and currency
Economist Jim Rickards weighs in on the impact of low oil prices on currencies
Fail!
No mention whatsover on CNBC worldwide ....incredible, obviously they are under instructions NEVER to discuss this
Student loan bills are going up in flames in 3...2...1.