March of 2010 brings us another milestone in the Obama Administration’s reign. Checking out the Government website, the public debt of the United States, this morning, you will see that we are in debt to the tune of $12.507 trillion as a nation. On January 20, 2009 when Obama took office, we were $10.626 trillion in debt. That means that this month the President will have officially borrowed two trillion dollars. All told, he has spent nearly $6 trillion.
That is right- it took this nation over 210 years to borrow two trillion dollars. Obama did it in only 25 months. He has spent more money than our first 39 presidents combined, and only GW Bush spent more, but give Obama some time, Bush took 8 years to spend $5 trillion, Obama can do it in 3.
To put that in perspective: Obama has spent nearly $11.5 million every minute that he has been president. For you visual people, here is a picture of $1 trillion worth of $100 bills (note the little guy in the lower left corner)
Two trillion dollars (in $100 bills) if laid flat on the ground would be enough to pave a road 244 feet wide that stretches from the Earth to the moon.
The stimulus that Obama pushed for and then signed into law was enough money to pay off half of EVERY MORTGAGE in the country. The $6 trillion dollars spent on his watch is enough to mail a check for nearly $20,000 to every man, woman, and child in this country.
In fact, it is mathematically impossible for this nation to pay off its debts, because the amount of the debt is more than the total of every dollar that exists. According to the Federal Reserve, the M2 money supply is currently $8.452 trillion.
How can you pay off a debt that is equal to a sum that represents more money than exists? The answer is, you can’t.
So where does that leave us with respect to Obama’s spending?
Pictures courtesy of http://www.pagetutor.com/trillion/index.html
Unknown · March 15, 2010 at 2:55 am
So if this is the case, then how can the masses take the government back since the government is not taking care of their people but only themselves and raping the worker??
When I was unemployed, I did a lot of research on conumer rights. I learned a lot and would like to know more. When I hear people talk about their financial and consumer difficulties, I find myself informing them of what I have found and what actions could help to resolve the issue. Most suggestions from public sources like tv and news are pathedic. They suggest to take the route of begging for mercy and showing your belly in hopes that corporations and regulations will have mercy; rather than using the individual rights an powers to fight back.
The reality is that the people screwed are the ones busy working to survive.
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