Obama Doubled America's National Debt To Unsustainable Levels

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Obama Doubled America's National Debt To Unsustainable Levels

November 4. 2015

Barack Obama

U.S. President Barack Obama has doubled the national debt in America to $20 trillion dollars. Obama's unruly, fruitless financial waste, has created a economic nightmare that will not be easily solved. No nation in world history has flourished under such massive debt. In fact, nations have financially collapsed under similar debt to GDP ratios. America is not earning the type of money as a nation to handle that debt load. The Obama Administration is tinkering with national data to hide the monstrosity of debt and what any person who knows even a modicum about economics realizes - the nation is headed for disaster.

America does not occupy the same financial spot it once did in the world, with a deterioration that began under former president George W. Bush. However, Obama has spend more money than any president in U.S. history making the problem infinitely worse. To make matters even worse, Obama has blocked financial initiatives that have cost America many billions of dollars in revenue streams, under his tree-hugging hippy ways that don't amount to anything at the bank.

STORY SOURCE

$20 trillion man: National debt nearly doubles during Obama presidency

By Dave Boyer - The Washington Times - Sunday, November 1, 2015 - When President Obama signs into law the new two-year budget deal Monday, his action will bring into sharper focus a part of his legacy that he doesn’t like to talk about: He is the $20 trillion man. Mr. Obama’s spending agreement with Congress will suspend the nation’s debt limit and allow the Treasury to borrow another $1.5 trillion or so by the end of his presidency in 2017. Added to the current total national debt of more than $18.15 trillion, the red ink will likely be crowding the $20 trillion mark right around the time Mr. Obama leaves the White House.

When Mr. Obama took over in January 2009, the total national debt stood at $10.6 trillion. That means the debt will have very nearly doubled during his eight years in office, and there is much more debt ahead with the abandonment of “sequestration” spending caps enacted in 2011. “Congress and the president have just agreed to undo one of the only successful fiscal restraint mechanisms in a generation,” said Pete Sepp, president of the National Taxpayers Union. “The progress on reducing spending and the deficit has just become much more problematic.”

http://www.washingtontimes.com