ObamaNomics: Federal Debt Jumped $463.6 Billion In First Quarter of FY 2011…
Hey, it’s only money, right?
(CNS News)- The national debt jumped $463.6 billion in the first quarter of fiscal year 2011 (which ran from Oct. 1to Dec. 31), the Treasury Department reports.
That means the government borrowed approximately an additional $1,500 for every one of the 308,745,538 men, women and children in the United States as counted by the 2010 Census.
If government debt continues to accumulate at that pace through the remaining three quarters of the fiscal year, total new debt for the year would amount to approximately $1.85 trillion–or about $6,000 for every person in the country.
That would rival the $1.89 trillion in new debt the government piled up in fiscal 2009–the greatest debt-accumulation year in the history of the country–when the federal government bailed out some of the nation’s largest banks and President Barack Obama signed his economic stimulus package.
So far, fiscal 2010 (which ended on Sept. 30) ranks second after fiscal 2009, for the greatest federal debt accumulation–with the government adding $1.65 trillion in new debt that year.
Posted by ZIP on Monday, January 17, 2011, at 10:39 pm | 
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He must be so happy with his achievement!
The Democrats know what they are doing.. thr treason of destroying America with unsustainable debt..
‘The Cloward-Piven Strategy of Orchestrated Crisis
In an earlier post, I noted the liberal record of unmitigated legislative disasters, the latest of which is now being played out in the financial markets before our eyes. Before the 1994 Republican takeover, Democrats had sixty years of virtually unbroken power in Congress – with substantial majorities most of the time. Can a group of smart people, studying issue after issue for years on end, with virtually unlimited resources at their command, not come up with a single policy that works? Why are they chronically incapable?
Why?
One of two things must be true. Either the Democrats are unfathomable idiots, who ignorantly pursue ever more destructive policies despite decades of contrary evidence, or they understand the consequences of their actions and relentlessly carry on anyway because they somehow benefit.
I submit to you they understand the consequences. For many it is simply a practical matter of eliciting votes from a targeted constituency at taxpayer expense; we lose a little, they gain a lot, and the politician keeps his job. But for others, the goal is more malevolent – the failure is deliberate. Don’t laugh. This method not only has its proponents, it has a name: the Cloward-Piven Strategy. It describes their agenda, tactics, and long-term strategy.’
http://www.americanthinker.com/2008/09/barack_obama_and_the_strategy.html
In Communism, every citizen is slave to every other.
In Obamunism, every citizen is debt-slave to every other.
This is forced collectivism!
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The Fed is flooding the economy by printing lots of dollars. The idea is to generate economic numbers that look like a recovery between now and the upcomming election. Then after 2012, when the economy tanks, it won’t matter so long as their Kenyan Keynisian bloviator gets re-elected.
Think the Barackster cares about these numbers? Like hell he does.
this is what happens when money is given to people who didn’t earn it, simply easy come easy go. commie rat bastards out to destroy the usa.
Obama sits under a shakedown tree full of money, this is a window into the past.
I was watching C-Span this morning (bored). Claire McCaskill (sp) D-MO was grilling Gen. Arnold Field (ret), one of four Senators trying to have him removed from his post as Auditor/Inspector General (not sure of his exact title) of contracts/monies going toward the war efforts. Apparently auditing is her forte.
The hearing reviewed auditing practices and reports from an Oversight Committee, and another agency that is still investigating spending/repayment/etc. In question, this morning, was $10M, or $46M–I was never quite sure. It appeared to me though, from McCaskill’s demeanor in questioning, that she wants to prove WASTE, and I’m not sure she supports/supported either war. (Actions speak louder than words.) At the end of her interrogation of Gen. Field she made a comment that almost made me laugh out loud. With all the waste going on in government–trillions, billions, millions–down to the many vacations that the Obama’s have taken (who takes 4 or 5 vacations a year?), they are zeroing in on money spent on contracts, before the investigation is even over.
I don’t have her exact quote to this man, but she said something to the effect of–’this position as Auditor of government money requires the MOST qualified and experienced person, to make sure the job is done to the highest standards.’
Um, Ms. McCaskill, DOES THAT GO FOR THE JOB OF POTUS, TOO? Should that be filled by someone that has some notable qualifications and experience, to run–up to now– what has been the greatest country in the world. OR, does your recommendation and observation only apply to lower positions?