Obama Makes History as National Debt Hits $17 Trillion

Daniel Greenfield, a Shillman Journalism Fellow at the Freedom Center, is a New York writer focusing on radical Islam. He is completing a book on the international challenges America faces in the 21st century.


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They said that Obama’s reign would be history and it certainly is as for the first time history, the national debt hit $17 trillion. That’s a historic sum. And we were there to see it. And be on the hook for it.

We are living through history. And in debt for that history.

The National Debt hit  10 trillion under Bush. At the rate, the Big Spender is going, it will easily hit 20 trillion under Barack Hussein Obama.

Well, that didn’t take long. Congress’s deal to suspend the government’s borrowing limit on Wednesday night led to a sharp spike in total U.S. debt on Thursday. This is largely because the Treasury Department had been using emergency steps to prevent the debt from increasing since mid-May. Total government debt had hovered at close to $16.7 trillion for around five months.

But when the debt ceiling was increased on Wednesday, Treasury was immediately able to rebalance its books and refund pensions and other programs that had gone unfunded since earlier in the year. That snapped total U.S. debt to a record $17.076 trillion, Treasury revealed on Friday.

In other words, the National Debt had actually already passed 17 trillion but various gimmicks were used to hide that fact. If a corporation did business that way, its top execs would be playing tennis in jail pretty soon. But Obama gets to keep on golfing some more.

 

  • Judahlevi

    How many Americans even know what the national debt is? How many Americans have even a basic understanding of economics?

    We will die by the vote of people who don’t even understand these terms – and don’t care. As long as the Democrats keep giving them more and more benefits paid for by tax dollars, they will always vote Democrat. Hillary will buy their votes with the same tactic as Obama.

    The Democratic party is solely responsible for the decline of America and our economic system. There is no other party to blame.

  • objectivefactsmatter

    It’s Monopoly money to his constituents.

  • Same as before

    Obama 8 years = Hillary 2016 = Goodbye America

    • UCSPanther

      If that is the fate of the US, I want the Democrats at the helm so they end up wearing it for all history.

    • alericKong

      Hello China

  • dougjmiller

    We are sinking fast. After the shutdown the only thing that’s changed is that Obama and the radical left are much closer to their ultimate goal, destroying America. Now he has imposed ObamaCare on us which will kill off seniors and the medically needy. We’re still $17 Trillion dollars in debt and growing rapidly. Obama has succeeded in bankrupting America and pushed us a giant step closer to financial ruin. By downgrading the military Obama has seriously endangered America. His foreign policy has us supporting violent, radical anti-American dictatorships and abandoning our democratic friends and allies. Diplomatically we are the laughing stock of the world. Obama is doing his best to overturn the Constitution and turn us into a police state. These are very dangerous times for America and Americans.

  • AdamCharles

    What’s with the hate man, im a muslim, and i love america ! what’s with all the conspiracy talk !