Tag Archives: Barack Obama

U.S. DEBT: ROUND 2

Rich-Uncle-Pennybags“The last time America was debt free was 1836.

“That lasted one year.

“Today we’re $17.5 trillion in debt.

“How’d we get here? Consider this: When Mr. Obama went to Brussels this week, he took a 900-person entourage, three cargo planes, two 747s, a slew of support planes, a phalanx of Marine One helicopters and nearly 50 vehicles for his motorcade. That was for a 24-hour stay.” Joseph Curl

“As a nation, we currently are carrying a national debt of $17.5 trillion. If we repaid it at a rate of $10 million per day, seven days a week, 365 days per year, it would take 4,700 years to repay…Additionally, we have unfunded liabilities of at least $100 trillion.” Ben S. Carson, The Washington Times, March 17, 2014, p. 31

U.S. won’t be world’s richest nation for long

Joseph Curl, The Washington Times, March 31, 2014, p. 28

ANALYSIS/OPINION:

Sometimes, especially lately, it’s depressing to think about the future of the U.S.

The economy has been in the doldrums since Barack Obama took office, and, in a slew of ways, is actually worse now. Median incomes are the lowest since 1995 [http://www.huffingtonpost.com/2013/09/17/median-income-falls-inequality_n_3941514.html], the workforce is its smallest in nearly 50 years [http://dailycaller.com/2014/03/13/data-shows-millions-of-americans-falling-out-of-the-workforce/], real unemployment is running at 16.6 percent [http://www.gallup.com/poll/125639/Gallup-Daily-Workforce.aspx], and all those 20-something kids who should be working are moving back home with their parents. [http://www.cnn.com/2013/10/01/living/parents-moving-home-millennials/]

But that’s not the real problem. See, on top of all that, we’re $17.5 trillion in debt. Continue reading

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