obama and his gang of thugs are like a bunch of monkeys fucking a football. They have no clue whatsoever. It's a,most as if they have no control at all, just spend, spend, spend. We have been out of money for a long time now, do you think everyone just forgot to tell obama? I think he knows exactly how far in debt we are and he doesn't care. He can't fix it so why bother trying. Just keep on spending like there is no tomorrow, because there just might not be...
By Matt Cover - CNSNewsIf the federal budget released by President Barack Obama today is implemented, it will double the national debt over the next 10 years. The current national debt is $13.56 trillion (end of FY 2010). By the end of 2021, that debt would rise to $26.3 trillion under the White House budget.
The figures reflect the effects of Obama’s fiscal year 2012 budget priorities, particularly a federal deficit that never falls below $500 billion in any year between 2010 and 2021.
The national debt – both debt held by the public and debt held by “government accounts” (the Social Security trust fund chief among them) – was $13.56 trillion on Sept. 30. 2010, the end of fiscal year 2010. (The national debt today, Deb. 14, 2011, is $14.08 trillion.)
In 2021, the national debt will have risen to $26.3 trillion, increasing by $1 trillion every year until 2021. Obama’s budget does not contain any plans for balancing the federal budget or reducing the national debt.
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