On June 1, the Republicans caved by giving President Biden a blank check to borrow whatever and how ever much money he wants to spend. On that day, the US debt stood at $31.46 Trillion. Within a month, the US had borrowed another Trillion dollars. Here we are, just six and a half weeks after they handed him the credit cards, with $32.54 Trillion in debt.
Proving that the Democrats never deal on ANYTHING with good faith, they are already calling for the abrogation of the handshake agreement that the parties reached to rein in the spending. They are borrowing money at a rate of over $100 Billion every business day. To put that in perspective, I wrote in 2009 that Obama had broken a record by borrowing a Trillion dollars in only six months.
It took this nation over 200 years to borrow a trillion dollars. Trump did it in seven months, Obama did it in only 6 months. It took Biden 9 months to borrow his first Trillion dollars, but he soon got better at it. His second trillion took three months, borrowing $2 trillion in his first year. In fact, he has increased the national debt by 118% in just two and a half years.
President Trump increased the National Debt by 134% in four years.
Obama increased the debt by 194% in eight years.
President George W Bush borrowed his first trillion dollars in two and a half years. He borrowed his second trillion a year and a half later. Another two years, another $1 trillion. All told, President Bush borrowed $5 trillion in 8 years, increasing the national debt by 187%.
It took President Clinton 3 and a half years to borrow his first trillion dollars. All told, he borrowed $1.2 trillion in his first term, and $600 billion in his second. He increased the national debt by 140% in eight years.
George HW Bush borrowed his first trillion in 3 years, and he increased the National debt by 170% in four years.
Reagan borrowed his first trillion in 6 years, and doubled the National debt during his eight years in the White House.
Carter increased the National debt by 150%, but “only” borrowed $300 billion in 4 years. I guess that was when $1 Billion was real money.
Ford increased the debt by 147% in 3 years., Nixon by 135% in 5 years, Johnson by 116% in 6 years, Kennedy by 106% in 2 years, Eisenhower by 108% in eight years.
Democrats, and Republicans, both in a contest to see who can spend the most in our society of “how much can you give me if I vote for you.”
Remember when the Biden spokeswoman told us that borrowing trillions didn’t cost anything because it was already accounted for? So that’s where we are- under Biden, the US has borrowed $4.75 trillion in just two and a half years. This can’t continue.
By definition, anything that can’t continue, won’t. There is no amount of voting that will fix this.
13 Comments
Big Ruckus D · July 16, 2023 at 8:09 pm
I hate disco, but I hear The Trammps cueing up and now they have a fat lady as a guest lead singer: burn baby burn, budget inferno, burn baby burn…
Scot Irish · July 16, 2023 at 8:21 pm
Well, it is the best economy of all time.
So put that in your pipe and smoke it!
Dirty Dingus McGee · July 17, 2023 at 1:52 am
At what point do we become Venezuela? Or Zimbabwe? My opinion? Shortly after the ATF finishes up the confiscation of every gun they can. The debt cycle will never end and many are starting to understand that. Voting is NOT the solution, neither party is trustworthy or gives a shit about Joe Six Pack. So the only way they see hanging on to power is by force. The only way to end their reign is by a stronger force.
Make your plans accordingly, die on your feet or live on your knees.
Divemedic · July 17, 2023 at 8:02 am
I agree. Governments will maintain power any way that they can- first with bread and circuses, then with whips and chains.
Dirty Dingus McGee · July 17, 2023 at 11:10 am
I think they tried the whips and chains 3 years ago on a trial basis with the Kung Flu scam. Shut down all sports and leisure, put people out of work and make them dependent on government largess, induce food shortages, turn neighbors against each other, etc. I’ll bet my last dime that TPTB took very careful notes of what worked, and what didn’t, for use the next time.And there will be a next time, they just have to iron out some details first.
Toastrider · July 17, 2023 at 8:34 am
“Shortly after the ATF finishes up the confiscation of every gun they can.”
To quote Doc Holliday in Tombstone, ‘You’ll be a daisy if you do!’.
The U.S. is not Venezuela, or Zimbabwe. The lowball estimates of firearms in this country run about 500 million, and are probably much higher. Add into that advances in machining, CNC, and 3-D printing and you have a statist’s nightmare.
They’d have to grab every gun, every piece of machining equipment, every CNC machine and 3-D printer.
Which is why they play the long game. Make it as onerous as possible to own a firearm without chasing outright confiscation. If they can kill the culture at its root, they won’t have to worry about dodging inconvenient .308 rounds.
Robert · July 17, 2023 at 10:55 am
For a great many of us, the “choice” we will be offered will be “Die on your feet or Die on your knees.” It really won’t be all that difficult to decide.
Of course, we should have a counterproposal. One that quickly discourages the minions of the Deep State and rejects their leaders.
Joe Blow · July 17, 2023 at 5:41 am
Implosion is the goal.
They are right on track.
Good luck repealing all this spending.
Voat harder!!!!
WDS · July 17, 2023 at 9:00 am
Yesterday morning while cleaning up the kitchen I watched a little of the Turning Point USA conference, convention, meet up or whatever it’s called and I’m here to tell ya, don’t worry because the Republicans are absolutely positively and most definitely gonna hold the line this time. They were up there onstage strutting around and flinging the sh*t like monkeys at the zoo, I’m surprised Boebert didn’t fall over trying to walk around in her heels. The entire portion I watched reminded me of one of those mutual admiration award shows that Hollywood puts on.
DMLMD · July 17, 2023 at 11:38 am
Both Blue and Red politicians can agree: follow the green … and you’re right in that no matter which (uni)team ‘wins’ in the election, the problem of fiat money remains and will likely have the same outcome as every other fiat monetary system… not a bug but a feature.
Big Ruckus D · July 17, 2023 at 12:02 pm
Which is why, regrettably, collapse is the only way out now. That isn’t a good option, but that it is the only available course has been assured. We are at the stage where even if every piece of shit in govt – and that’s all of them – could be deposed promptly, the terminal damage has already been done to the economic standing and the societal structure of what was the USA.
That’s another reason voting is worthless; even if a non-fraudulent election outcome could be guaranteed (and it most certainly can’t be), no putatively honest and capable man – a sort of candidate who isn’t even on the stage – could possibly solve the problems now fully realized and structrually embedded. Both the monetary and human capital has been too thoroughly damaged to bounce back without an unfathomable amount of pain first. Take note that we haven’t even begun to suffer the true extent of the suffering yet to come. Even with as much aggravation and disillusionment as we’ve been dealt so far, we are barely into the openng act.
Nemo · July 17, 2023 at 3:14 pm
If you want a real treat, got usdebtclock.org and watch how fast the numbers spin in a minute.
Warning: vertigo inducing.
Anonymous · July 17, 2023 at 9:20 pm
Bleeding always stops.
Comments are closed.