Federal debt tops $16 trillion, Treasury Dept. says

j-mac

j-mac

Verified User
The Treasury Department said Tuesday that the federal government has now officially topped $16 trillion in debt.
The announcement, which came just an hour before Democrats gaveled in their convention in Charlotte, N.C., to renominate President Obama for another four-year term, immediately boosted the government's grim fiscal picture back to the fore of the national debate.


Read more: Federal debt tops $16 trillion, Treasury Dept. says - Washington Times http://www.washingtontimes.com/blog/inside-politics/2012/sep/4/debt-tops-16-trillion/#ixzz25XKZuXgH
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How appropriate....The biggest spender in history in the WH asking for a second term, and on the day of the opening of his party's convention, the debt tops $16 Trillion....Now if the Jobs report on Friday is dismal as many expect it will be, what a bookend.....

On another note.

Democrats are poised to avoid the danger of President Barack Obama accepting his party’s nomination before a partially-empty stadium by shifting his speech to an indoor arena and citing ‘severe weather’.
The Obama campaign have been working desperately to ensure that the 74,000-seater Bank of America stadium in Charlotte would be filled.
Buses for students from across North Carolina and even members of black churches in neighboring South Carolina have been arranged.


Read more: http://www.dailymail.co.uk/news/art...20-000-seater-indoor-arena.html#ixzz25XLiNgmv
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Argh...He couldn't even bus enough people in from out of state to repeat his arrogant repeat of the '08 stadium acceptance at Invesco field....:palm:

People are no longer buying what Barrack is cookin'.....hehehehehe...
 
The Dude said:
I'm not the gov junior
The fed is a gov institution.
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No, the Fed is not a government institution. The Fed is a privately owned centrall bank.

http://en.wikipedia.org/wiki/Federal_Reserve_Bank

The Federal Reserve Banks have an intermediate legal status, with some features of private corporations and some features of public federal agencies. The United States has an interest in the Federal Reserve Banks as tax-exempt federally-created instrumentalities whose profits belong to the federal government, but this interest is not proprietary.[SUP][2][/SUP] In Lewis v. United States,[SUP][3][/SUP] the United States Court of Appeals for the Ninth Circuit stated that: "The Reserve Banks are not federal instrumentalities for purposes of the FTCA [the Federal Tort Claims Act], but are independent, privately owned and locally controlled corporations.

The private bankers who own the Fed have no interest whatsoever in forgiving our debt to them.

However, the US could issue fiat currencey (as it has done in the past, so called "greenbacks") and pay off the FED with fiat currencey. The powers that be have no interest in that idea either. To put it plainly, those who own the Fed would not want to relinguish their controll (power) over our economy and thus our entire country.
 
j-mac said:
How appropriate....The biggest spender in history in the WH asking for a second term, and on the day of the opening of his party's convention, the debt tops $16 Trillion....Now if the Jobs report on Friday is dismal as many expect it will be, what a bookend.....

On another note.



Argh...He couldn't even bus enough people in from out of state to repeat his arrogant repeat of the '08 stadium acceptance at Invesco field....:palm:

People are no longer buying what Barrack is cookin'.....hehehehehe...
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What's a few dollars between friends? :)
 
consagainromney said:
And the unethical war for oil in Iraq takes up about 6 of that 16 trillion dollars...
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From a surplus to the verge of financial ruin after 8 years of Repub government and some folk STILL want to vote Republican because Obama didn't wave a magic wand and fix everything. They are unable to accept the consequences that resulted from 8 years of Repub rule.
 
apple0154 said:
From a surplus to the verge of financial ruin after 8 years of Repub government and some folk STILL want to vote Republican because Obama didn't wave a magic wand and fix everything. They are unable to accept the consequences that resulted from 8 years of Repub rule.
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Not able to face consequences? Republicans lost control of Congress and lost the White House in 2008. Seem like pretty big consequences to me.
 
cawacko said:
Not able to face consequences? Republicans lost control of Congress and lost the White House in 2008. Seem like pretty big consequences to me.
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The point is they don't comprehend the ensuing consequences, the consequences which the country is still suffering. The consequences that are still being dealt with.

The Repub party hasn't undergone some major transformation. A new leader but the same "old guard". That's apparent by seeing those guys on TV and talking the same talk. The same old, just a new public face. Why would anyone want them back in power? It's like some people don't realize the damage that was done on their watch.

I find it bizarre people prefer the party that was in power when the damage was done over the party trying to fix the damage because they are not doing it quick enough.
 
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