Free Markets, Free People

17 trillion in debt and no relief in sight

As the world collapses around us, our borders are overrun, our leaders dither and procrastinate and the world in general thumbs their collective noses at “American power”, this sort of stuff could get lost in the shuffle:

When President Obama took office on Jan. 20, 2009, the total federal debt was $10,626,877,048,913.08. As of the close of business on July 30, 2014, it had risen to $17,618,599,653,160.19–up $6,991,722,604,247.11 from Obama’s first inauguration day.

By the close of business on July 31, 2014, it had risen to $17,687,136,723,410.59—up $7,060,259,674,497.51 since Obama first inauguration day.

Now the easy thing to do would be to go on a “it’s Obama’s fault” tirade, but that would only be partially true.  He certainly holds some responsibility for doing nothing to stem the red ink, and, in most cases, actually encouraging it.  He’s certainly exerted no leadership in trying to get the two parties together on a budget either.

But it is Congress that appropriates and spends.  Not the executive branch, now matter how bad it is.  For the first two years of Obama’s first term, it was all Democrats all the time.  And they set in motion horrendous spending programs like ObamaCare.  And there were a number more.

The fact of the matter is Congress also holds major share of the blame for this – no budget has been passed by the Senate during Obama’s entire tenure – and again, the majority of the Senate has been Democrat for these 6 years.

So what had been a horrific 10 plus trillion debt that was piled up over 40 years, became an even more horrific 17 trillion dollar debt in 6 short years – with no end in sight.

Yet most of the idiots who’ve put us in this fiscal hole will be running for re-election in the midterms and most of them will be re-elected.

Once more, the definition of insanity seems to loom large, doesn’t it?

~McQ

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17 Responses to 17 trillion in debt and no relief in sight

  • But you missed a big one …

    Climate Change will have serious ramifications on the economy and the federal budget, and failure to confront it will make it harder to meet out nations’ long-term fiscal challenges. – Sen. Patty Murray

    Our government wants to care about “the economy and the federal budget” but this damn Climate Change thing just isn’t creating enough “Green Jobs” with it’s dearth of cash for crony-capitalist efforts.

  • The force required to change our self-destructive trajectory can only come from the people.  Politicians…absent that support OR DEMAND…can never make the changes needed.  To think otherwise is to ask cats to bark.
     
    EVERYBODY in government knows we cannot continue this, including even Pres. ScamWOW.  Most of them have given it lip-service, and some have promised to address it, including Pres. ScamWOW.
     
    But it is always a lie.

    • I’m beginning to believe that we can’t count on al Qaeda, the Russians, the Iranians or the Chinese to solve this problem with DC for us, so I guess it’s time for some D.I.Y.

  • I don’t know what you’re worried about. Matt Yglesias has assured us that the federal government can’t run out of dollars.

    • Why does this remind me of the story on NPR about the jazz enthusiast who lent his autographed pictures to a Community College who turned around and cut them up for a montage ?
      When asked why ? …  the student said just get another.   Obviously, lost to the student was that many jazz greats like John Coltrane are dead and he can’t sign another.
      The entire idea of “replaceable parts” is so 19th century.  Good thing the Vatican didn’t lend them anything.

      • Callous disregard for OTHER people’s property, other people’s wealth.

        • … but just get another … I bet he would even offer to pay for it

          • I don’t know what you’re worried about. Matt Yglesias has assured us that the federal government can’t run out of dollars.
            >>>> Matty is gonna be one of the first that are dealt with when the poop hits the fan. People have a way of remembering this stuff.

            But we’re so down the rabbit hole in this debt and our priorities are screwed. We’re gonna cashier more soldiers while we can’t fire a single effing criminal incompetant from the VA or IRS.
             

    • I first ran into this kind of thinking when I was a kid.
      My oldest brother really hated the pace of Monopoly, so when he fell on a property and didn’t have enough money to buy it … suddenly the “bank got generous” and everybody got some “extra cash”

    • Matt Yglesias needs new friends who talk about real problems.  I suggest two years in a place like … Tioga, North Dakota.
      This time last year, the Washington Post was running a story about how DC hadn’t experienced the “Great Recession” … perhaps they should.
      Except for DoD, has any part of the federal government actually had to layoff any workers in the last two decades ? … and I don’t mean those stupid furloughs with back-pay.

  • At what point do we acknowledge the Republican leadership is a bunch of above board business friendly democrats.  Only different from those who call themselves Democrats because Democrats are below board business friendly.

  • Quick question. Do I live in a bubble, or do the Democrats have zero plans for anything except to spend more?
    Tax reform? I’m talking revenue-neutral even. Nada.
    Entitlement reform? Remember when there was that commission that sort of forced the Democrats to make noises. That was years ago.
    I mean Paul Ryan puts out budgets and plans and welfare ideas and some are good and some are dumb, but at least something is proposed.
    I feel like I have seen nothing from Democrats except spend MOAR on XYZ, and even then its seems so tired. Pre-K education I guess was the last big thing that I would consider not to be identity politics driven. Which had already been shown to be useless.
    Is it just me, or do they seem to be running more and more on identity politics instead?
    And this goes on at the state level, too. Name 3 state level reformers and their plans:
    I can call up union stuff in WI, tax cuts in KS, and maybe VT’s single player plan, but that’s been put on ice, so does it count?
     

    • I guess we have California’ carbon trading system and the bullet train.

      • Cuts!  Restraint!  Are you mad!   Are you trying to bring the country and the economy to a halt!   Crazy Republican!

    • Well, they ALSO plan to make YOU spend more, especially if you are in business.  A LOT more.

    • Their plan is to Eff up the place and blame the Republicans.  Unemployment, welfare dependency are good for Democrats.  Opportunity and prosperity are bad for Democrats.
       
      Why would they not want a disaster?

      • Long as they can have and control their new DHS Army maybe they’ll be okay.
         
        Maybe.
         
        We’ll see if the new Praetorians are any better than the old.