In 821 Days, Obama Added $3.7 trillion to the National Debt

Gold at $1500. Dollar at a 15 month low. Gas at $4 a gallon. Food prices rising fast. Over 400,000 unemployment claims per week. 9% unemployment rate. 3 ongoing wars. More people than ever on food stamps. Rising homeless rate. Poverty on the rise. Social security going into the red for the first time. Debt exploding at unprecedented levels. WHEN ARE LIBERALS GOING TO GIVE UP ON THIS CLOWN AND HIS FAILED POLICIES.

It is an opportune time for the GOP stand ground and not allow this government bankrupt this country. Hopefully, the GOP can redeem themselves for caving in and settling for a $38 billion spending cut in the 2011 budget. If the GOP screw up on the debt ceiling, they don't deserve our support in 2012.

(CNSNews.com) - Federal borrowing is on pace to hit the legal limit on the national debt in less than a week.

As set in a law passed by Congress and signed by President Barack Obama on Feb. 12, 2010, the legal limit on the national debt is $14.2940 trillion. As of the close of business Tuesday, according to the Daily Treasury Statement released at 4:00 pm today, the portion of the national debt subject to this legal limit was $ 14.268365 trillion.

This left the U.S. Treasury with the authority to borrow only an additional $25.635 billion before it hits the statutory debt limit.

In fact, in the past six days, the debt has increased at a far faster pace than either the $4.03 billion per day average suggested by Secretary Geithner or the $4.5 billion per day that the Treasury has increased the debt since Obama became president. At the close of business last Wednesday, the debt subject to the limit was $ 14.211984 trillion--or $56.381 less than the debt recorded at the close of business Tuesday.

In other words, in the six days of Thursday, Friday, Saturday, Sunday, Monday, Tuesday, the national debt increased $56.381 billion---or almost $9.4 billion per day.

At that pace, the Treasury would exhaust its $25.635 in remaining borrowing authority in less than 3 days.

U.S. Debt Tops $14.3 Trillion for First Time

The proposed $100 billion in cuts dwindled down to $38 billion after the members of Congress didn't have the "balls" to stand up for what was right. It is power over common sense. The $38 billion in spending cuts just covered the $34.54 billion in interest on the debt. We have a multi-trillion dollar budget. What are we spending on that can't be cut? America is on the verge of bankruptcy if we keep continuing to raise the debt ceiling.

(CNSNews.com) - The national debt has passed another historical milestone, topping $14.3 trillion for the first time ever, according to data released by the U.S. Treasury late Monday afternoon.

When the Treasury opened for business on Friday, April 15, according to the Treasury’s Bureau of the Public Debt, the national debt stood at $14.27 trillion ($14,270,792,119,184.89). By the close of business Friday, the debt had climbed to $14.31 trillion ($14,305,336,580,992.11), an increase of $34.54 billion ($34,544,461,807.22).

Friday’s $34.54-billion jump in the national debt almost equaled the $38.5 billion the Republican House leadership said would be cut from spending for the remainder of this fiscal year by the continuing resolution that the Congress passed on Thursday and President Obama signed Friday.

The federal government is now perilously close to hitting its legal limit on debt.

Obama has a plan to reduce the soaring budget deficit...LOL

Again, Democrats use class warfare to instill fear and unquestionable animosity among groups of people. With Obama leading the charge claiming credit that the 2011 budget is the biggest annual spending cut in history, it could have been avoided if the president stopped spending wastefully. There is nothing to celebrate. We are still on a yearly trillion dollar deficit. Obama expands the government and added many entitlement programs into the system, and he expects the rich to pay for it. It is not only the rich, but rather, it is everybody. I am looking forward to hear how Obama will cut the US deficit. More likely it will involve more spending and cut the military budget.

(Yahoo) WASHINGTON (AFP) - Aides say President Barack Obama will lay out plans to reduce the soaring US budget deficit on Wednesday, setting the stage for a major battle that could define his reelection campaign.

Washington is still regrouping from the political jousting that led to the near shutdown of the federal government at the weekend, but looming on the horizon are even bigger battles over the debt ceiling and the 2012 budget.

Opposition Republicans put pressure on Obama in the long-term budget debate by unveiling a spending blueprint last week that would cut government expenditures by $6 trillion over the next decade.

Republicans want to slash funds for Medicare, benefits for the elderly, and Medicaid, a health program for people with low income, but Democrats would prefer to make up much of the deficit by raising taxes on the wealthy.

The president, by contrast, would take "a scalpel, not a machete" to the social welfare programs and look to rein in the deficit "in a balanced way," Plouffe told ABC's "This Week" program.

Air Force spending $4 million a day for Libya war

It is nice to know there is at least transparency with the military. It would be nice to see Obama more forthcoming. What happen to the promise "the most transparent administration ever?" Yeah, right!

(Yahoo) WASHINGTON – The Air Force secretary says the service has been spending about $4 million a day to keep 50 fighter jets and nearly 40 support aircraft in the Libya conflict, including the cost of munitions.

Secretary Michael Donley tells reporters that the Air Force has spent $75 million as of Tuesday morning on the war. He says the U.S. decision to end its combat strike role in the conflict will cut costs, but he could not say by how much.

He says the Air Force has spent close to $50 million on the relief effort for the Japan earthquake, including $40 million to evacuate between 5,000-6,000 U.S. personnel.

The total U.S. costs for the Libya air campaign as of March 28 were $550 million, not counting normal deployment spending.

Gov’t Has Borrowed an Additional $29,660 Per Household Since Obama Signed Stimulus

This is absolutely obscene...............

(CNSNews.com) - The federal government has borrowed an additional $29,660 per household in the United States since President Barack Obama signed his economic stimulus law two years ago.

That brings the total national debt to $125,475.18 per household.

DEBT NOW EQUALS ENTIRE ECONOMY

In other words, we are now broke thanks to Obama..........................

(Washington Times)President Obama‘s budget, released Monday, was conceived as a blueprint for future spending, but it also paints the bleakest picture yet of the current fiscal year, which is on track for a record federal deficit and will see the government’s overall debt surpass the size of the total U.S. economy.

Mr. Obama‘s budget projects that 2011 will see the biggest one-year debt jump in history, or nearly $2 trillion, to reach $15.476 trillion by Sept. 30, the end of the fiscal year. That would be 102.6 percent of GDP - the first time since World War II that dubious figure has been reached.

And the budget projects the government will run a deficit of $1.645 trillion this year, topping 2009’s previous record by more than $230 billion. By contrast, 2007’s deficit was just $160 billion altogether.

Still, amid the other staggering numbers in the budget Mr. Obama sent to Congress on Monday, the debt stands out because Congress will need to vote to raise the debt limit later this year, and because the numbers are so large.

Republicans argued Monday that the Obama administration‘s new budget fails to appreciate the depth of the country’s fiscal plight.

$32 Billion in Budget Cuts Proposed by GOP

Not enough, but at least it is a start......

(New York Times) WASHINGTON — After clamoring loudly about their plans to curtail federal spending, House Republicans announced Thursday that they would cut $32 billion for the remainder of the fiscal year — a minuscule amount compared with a projected annual deficit of nearly $1.5 trillion.

The Republican proposal is effectively $58 billion less than the domestic and foreign aid programs in President Obama’s budget request for 2011 — far short of the $100 billion in cuts that Representative John A. Boehner promised before the November elections that catapulted Republicans into the House majority and made him the speaker.

Republicans said that their cuts, prorated for the balance of the fiscal year, still fulfilled their campaign pledge to reduce to 2008 levels the government’s discretionary spending on everything other than national security. They said that the Democrats’ failure to approve a budget or pass any of the normal spending bills precluded further cuts.

But their unwillingness to impose steeper reductions also reflected the severe difficulty they face in slashing spending on the wide scale demanded by some Republicans, especially Tea Party-backed freshmen elected partly on a promise of fiscal restraint.

The Republican Study Committee, a conservative bloc that counts a majority of House Republicans among its members, has called for more than $100 billion in cuts this fiscal year, and $2.5 trillion in reductions over the next decade. The group sent a letter to Mr. Boehner urging him to meet or exceed that because voters expected no less.

Even After a Democrat Shellacking in November Obama Wants to Spend More Money

Obama is clueless what occurred in the last November election. The president admitted that the Democrats took a severe shellacking, but that is not going to stop Obama from spending more. At the present, we are going to hit the debt ceiling in the next couple months, and the Republicans are adamant to cut spending. In the past year, a series of stimulus packages gave us an above 9 percent unemployment or 17% underemployment. In the summer of July 2010 from the (Hot Air) website, they described how Obama was committed to spend $2 Billion to create 5000 jobs. The article went on to say:

Obama proposes spending $2 billion to create a total of 5,100 jobs. That will cost $392,156.87 per job. That kind of money, in the private sector at least, should fund several jobs. Heck, even a government bureaucrat costs less than that; even at the Department of Transportation, that would cover two and have enough left over for a secretary. But that’s not the only folly in this proposal. Of the 5,100 jobs Obama promises, only 1,500 of them are permanent jobs. The others are construction jobs, which will only last as long as the money flows to the project. That means we will spend over $1.3 million per “permanent” job in building this “green economy,” which looks more like a red-ink economy with even a cursory check of the numbers.

This example is nothing short of shocking. There was an example of a Los Angeles county given a stimulus of several million dollars and that produce 55 jobs. It is important to understand that the government role is never intended to create jobs. The real jobs are created by the private sector. The governments role is to spend our money. Therefore, Obama had no intent in changing his ways after the election.

(WSJ) President Barack Obama will call for new government spending on infrastructure, education and research in his State of the Union address Tuesday, sharpening his response to Republicans in Congress who are demanding deep budget cuts, people familiar with the speech said.

Mr. Obama will argue that the U.S., even while trying to reduce its budget deficit, must make targeted investments to foster job growth and boost U.S. competitiveness in the world economy. The new spending could include initiatives aimed at building the renewable-energy sector—which received billions of dollars in stimulus funding—and rebuilding roads to improve transportation, people familiar with the matter said. Money to restructure the No Child Left Behind law’s testing mandates and institute more competitive grants also could be included.

While proposing new spending, Mr. Obama also will lay out significant budget cuts elsewhere, people familiar with the plans say, though they will likely fall short of what Republican lawmakers have requested.

Final Tab for Pelosi’s Speakership: $5.34 Trillion in New Debt—Or $3.66 Billion Per Day

Since Congress appropriates money, Pelosi not only spent foolishly, but bankrupt this country. Ignore Liberals being cheap with their own money, they always enjoy spending other people money without hesitation.

(CNSNews.com) - In the 1,461 days that Rep. Nancy Pelosi (D.-Calif.) served as speaker of the House, the national debt increased by a total of $5.343 trillion ($5,343,452,800,321.37) or $3.66 billion per day ($3.657,394,113.84), according to official debt numbers published by the U.S. Treasury.

Pelosi was the 52nd speaker of the House. During her tenure, she amassed more debt than the first 49 speakers combined.

Pelosi served as speaker for four full years, including one leap year, making her time in that office 1,461 days. On average, the federal government added $3.66 billion ($3,657,394,113.84) in new debt for each of those days.

Pelosi not only outstripped her predecessors in the total volume of debt added to the national debt during her tenure as speaker, but also in the rate at which new debt was added. In fact, Pelosi added debt at a rate more than three times faster than her nearest competitor.

Bobby Jindal: Make Congress part-time

Jindal said in an interview with Human Events.

“We used to pay farmers not to grow crops, let's pay congressmen to stay out of Washington, D.C.,. Mark Twain said that our liberty, our wallets were safest when the legislature's not in session.”

“Make them part-time, give them term limits. Don’t let them become lobbyists. When they have to live under the same rules and laws they pass for the rest of us, maybe you’d see some more common sense coming out of Washington, D.C.”

Probably the best sound advice from a politician. When Congress is in session they always find ways to spend our money. Make them part time and less money would be spent. There is no need to make them career politicians. Let these Congressmen and Congresswomen have a full time job outside of Washington and convene several times a year and on emergency basis to discuss ways to improve America.

Our Tax Dollars at Work Providing a Website for Condoms

So nice to see how our tax dollars are going to worthwhile projects.(Sarcasm)

(NBCWashington.com) By far the weirdest thing on the site is the "What Kind of Condom Are You?" quiz, which like all those loathed but pervasive Facebook quizzes, uses a few superficial questions to lead to an ostensibly whimsical result. Do you like cheeseburgers and fries? You might be a latex condom. Reality TV fans could be flavored condoms. If you like being in charge at work, you’re a magnum. (The quiz tells me that my "no-frills personality is suited for the standard latex condom." Gee, thanks, D.C. government.)

Regardless of your quiz result, you’ll be getting magnums. In May, the Department of Health switched to distribution of the super-sized sheaths – because every man likes to imagine he needs one.

GOP Wants to Cut Spending by Defunding National Public Radio

Taxpayers Subsidize National Public Radio (NPR). It is understood by all as a radio for liberals, not the general public. As Washington Post media reporter Howard Kurtz puts it, the media landscape stretches "from those who cheer Fox to those who swear by NPR." We dont need to subsidize a government run liberal radio station to provide us the news. We have CNN and MSNBC to do that for us.

(Fox News) Democrats on Thursday rejected a GOP proposal to cut federal funding to National Public Radio, which has been under fire ever since it sacked Juan Williams last month.

The proposal, which was the winning entry this week in YouCut -- an anti-government spending program started by House Republicans earlier this year -- failed by a vote of 239-171.

But when Republicans assume power in January, they are expected to go after NPR's federal funding with a vengeance.

NPR says only 1 percent to 3 percent of its $166 million budget is funded by taxpayer dollars. But a new report by the Congressional Research Service found that taxpayers fund at least 4 percent of NPR's budget, while an analyst at the conservative American Thinker estimated it was closer to 25 percent.

The Myth about Earmarks

(Politico)Shh! There’s a secret about earmarks: Eliminating them won’t save taxpayers one dime. Instead, the money will get turned back to President Barack Obama so he can direct spending as he sees fit.

So a ban on earmarks doesn’t save one dime. It does, however, do three things: 1) It trashes the Constitution and violates our oath of office; 2) it cedes Congress’s power to authorize and appropriate to the president, and 3) it gives cover to big spending.

For many years now, there have been some members of Congress who have decried earmarks to hide their real voting record on fiscal issues. In other words, they vote for huge spending increases and then blast earmarks. As a result of their incessant demagoguery, just the term “earmark” has become a dirty word for many voters.

An across-the-board ban has the unintended consequence of eliminating useful spending. Improved armor for our soldiers and unmanned aerial vehicles like the Predator drone are just a few examples of worthy congressional earmarks that have improved our national defense and would never have been funded by any administration.

To be clear, there are many earmarks that should be defeated. But we should defeat them based on their substance — not because they are earmarks.

It is important to note that earmarks have steadily decreased over the past few years, but our debt have been rising. While there are some earmarks worths keeping, there are millions in federal dollars wastefully spent for a clown show in Pennsylvania, a deer underpass in Wyoming, a Colorado dragon boat festival and a storytelling festival in Utah — just to name a few. Also, don't be dupe with stimulus bill with no congressional earmarks. The last Congress did this (Democrats) and it resulted in hundreds of outrageous expenditures that was spent through presidential earmarks. Therefore, earmarks aren't the underlying cause of our fiscal problems. It is spending. Whether we allow the President or Congress to do it, our tax dollars will be spent with or without earmarks.