Barack Obama
For the first time in history, U.S. debt has topped $10 trillion dollars, up 59% under President Obama. In the midst of all Washington's spending, based on the reasoning President Obama set forth over two years ago, calculated expenditures would (allegedly) stimulate and boost the economy, spurring job growth. However, it has not and to terrible results. For the first time since 1945, U.S. job growth is at 0%, which is breathtakingly bad.
The government has also dipped into Social Security funds, which is not a good thing. According to CNS News, "The 'intragovernmental' debt is money the Treasury has borrowed out of government trust funds—including the Social Security trust fund—to use on federal expenses other than those the trust funds were set up to cover." This is a disaster in the making. Why is this being allowed.
STORY SOURCE
U.S. Debt Held by Public Tops $10T for 1st Time—Up 59 Percent Under Obama
Friday, September 02, 2011 - (CNSNews.com) - At the close of business on Aug. 31--for the first time in the history of the country--the publicly held debt of the federal government topped $10 trillion, according to data released by the U.S. Treasury Department at 4:00 p.m. yesterday.
