United States National Debt
GOING UP AT ABOUT $66,000 PER SECOND
National Debt is at $15 Trillion and Growing
Unfunded Liabilities are over $115 Trillion
The Video below will give you a quick understanding of how bad the Debt Crisis is.
This video shows the Unfunded Obligations to be $115 Trillion (2011)
Numbers vary depending on which unfunded programs are included.
Obama's Share of the National Debt
Presidents from George Washington through George W. Bush ran the national debt up to $10.62 trillion, the amount it was on the day Obama took office. Today, it is $15.67 trillion, according to the Treasury Department's Bureau of Public Debt. So it has gone up by $5.05 trillion under Obama. That's roughly half of the amount amassed by all the other presidents combined. - 05/15/2012 Huffington Post
Trillion dollar deficits every year moving forward is "unsustainable"
Congressman Duffy made the following remarks during floor debate on the House Budget Committee's FY2012 budget resolution, noting that when President Obama took office, the CBO projected we would borrow $1.8 trillion over 10 years, but now under President Obama we are projected to borrow over $9.4 trillion.
Obama Promised to cut the Budget Deficit in half by the end of his first term.
Instead of cutting the Budget Deficit in half, in his first 3 three years in office Obama has ran the deficit he inherited from $10.62 Trillion up to almost $16 Trillion as of today, May 20, 2012.
Official National Debt is the Budget Deficit that has grown year over year. This is the number the government discloses as our official National Debt when it is really just the Budget Deficit.
The Truth Number includes "unfunded" obligations such as Social Security, Medicare, Medicare Subscription
Drug Program, Military and Civil Servant Pensions and other programs the Goverment
is obligated to pay and does not have the money to do so.
Obama says Bush adding $4 trillion to debt is unpatriotic and irresponsible
President Bush added $4 trillion dollars to our national debt in his 8 years in office. While campaigning Obama hammered the issue that it was irresponsible and unpatriotic that Bush added so much debt. As of today 6/15/12 Obama has added almost $6 trillion in debt in 3 1/2 years.