As the Debt Ceiling Deal is Celebrated … US Treasury Borrowing at 100% of GDP … America Disapproves of the Raising of Debt Ceiling


American families struggle with their budgets and do without to make ends meet … NOT THE OBAMA LEAD US GOVERNMENT.

UNBELIEVABLE. US Borrowing now equals 100% of GDP.  I am sure the credit agencies will embrace this news. How is it that Obama and and other fool hearty politician on the LEFT or the RIGHT celebrates the debt ceiling deal while the United States is borrowing 100% of the GDP. In one day, just one day the US debt went up $239 billion, largest one-day bump in history.  As the PJ Tatler states, we will be downgraded, how on earth can’t we be?

US debt shot up $238 billion to reach 100 percent of gross domestic project after the government’s debt ceiling was lifted, Treasury figures showed Wednesday.

Treasury borrowing jumped Tuesday, the data showed, immediately after President Barack Obama signed into law an increase in the debt ceiling as the country’s spending commitments reached a breaking point and it threatened to default on its debt.

The new borrowing took total public debt to $14.58 trillion, over end-2010 GDP of $14.53 trillion, and putting it in a league with highly indebted countries like Italy and Belgium.

Obama took his minions out to lunch to congratulate them for all their hard work on the debt ceiling deal, with the looks of the financial state that Obama has taken America, I hope The One made them pay “Dutch” treat.

The actions of those in Washington, DC are just criminal. 2012 cannot come fast enough, I just hope we have an America left.

UPDATE I: Here is a shocker, the American public hate the debt ceiling law. According to a USA TODAY/Gallup Poll taken hours after the Senate passed and President Obama signed the deal, 46% disapprove of the agreement; while only 39% approve. Many believe that this the agreement that was passed to raise the debt ceiling will do more harm to the economy than good. A Rasmussen poll has the polling data even worse … just 22% of likely voters nationwide approve of the agreement while and overwhelming 53% disapprove.

The hard-won, last-minute agreement to raise the debt ceiling and cut the deficit gets low ratings from Americans, who by more than 2-1 predict it will make the nation’s fragile economy worse rather than better.

If you liked this post, you may also like these:

  • Geithner Says Republicans Have Already Promised to Increase the Debt Ceiling
  • Happy New Year America from Barack Obama … Turbo Tim Geithner Says US will hit $16.4 trillion debt limit? on New Year’s Eve
  • Barack Obama Wants to Raise the Debt Ceiling Again … Borrow Another $1.2 Trillion on Chinese Credit Card
  • Good Grief, National Debt over $4,000,000,000 … How Did Obama Used to Feel about Debt Ceiling?
  • Gallup Poll: 47% – 17% in Favor of Lowering Debt Ceiling … As Obama Drags His Feet

  • Comments

    4 Responses to “As the Debt Ceiling Deal is Celebrated … US Treasury Borrowing at 100% of GDP … America Disapproves of the Raising of Debt Ceiling”

    1. Jimbo on August 4th, 2011 10:34 am

      Do these things to saolve the problem:

      1) End the illegal and mis-guided wars started by the Neocons and Dumbya
      2) Return the tax rates back to Clinton era rates (he created 24 million+ jobs).
      3) End Bush tax cuts for the very wealthy (it didn’t work and they were never going to spend the extra money anyway).
      4) Reduce by 1/3 our DOD budget. We currently spend as much as ALL OTHER NATIONS COMBINED on defense.
      5) Raise SS taxes to include amounts over the $106,000 limit.
      6) Replace the nutjob GOP freshmen (Tea Baggers) with thoughtful, sane, mature people.

      Viola! We have our country back again.
      SM: You are certainly in for a tough next decade.
      1) It would appear your boy Obama failed on his promises to end the wars and instead not only has started another one in Lybia but also looks like he will let the Middle East explode.
      2) You must have missed it where Clinton wants corporate taxes lowered … You must have also been asleep in the 90′s when there was a BS dot com bubble that created fictitious wealth and jobs.

      While Democrats and Republicans struggle to make headway in debt- and deficit-reduction talks in Washington, former President Bill Clinton pontificated in a recent issue of Newsweek about his own solutions for our sluggish economy.

      I don’t agree with all of Clinton’s “14 ways to put America back to work,” but I definitely believe he’s right about one of them: cutting corporate taxes. Yes, you read that right. The chief paragon of the Democratic Party espouses cutting corporate taxes, while the majority of his political chums, including President Barack Obama, advocate raising taxes on the wealthy. In his Newsweek article, Clinton was emphatic: “Cut corporate taxes. … I’d be perfectly fine with lowering the corporate tax rates (and) simplifying the tax code.”

      Also must have missed all the corporate corruption that was allowed to go on under Clinton. Can you say Global Crossing, Health South, Arthur Anderson and Enron.

      Yea, keep calling Tea Party folks nuts … that’s why a majority of America identifies with them. So you think its nuts to act in a fiscally responsible manner and not run a debt up for your children and grandchildren.

      Who’s nuts?


    2. A Texas Grandfather on August 4th, 2011 11:21 am

      Sure, the people who really care about the country are upset about the debt deal. What a mess!

      The Republicans should have shut down the government. Giving Obama another trillion or two to waste and pay off his union buddies is foolish.

      Watch what happens to the stock markets. Can we say down?

    3. on August 5th, 2011 8:59 am

      #1 – it is YOU that is the nut job. The American people elected the “tea party” congress because they were sick and tired of the liberal spending of other people’s money by the US Government.

      Barack Hussein Obama has spent more in 3 years than Bush spent in 8. Obama started an illegal war and upgraded the Afghan war until he lost interest. Obama spends more time on vacation, playing hoops, golfing and throwing lavish White House parties than ANY president in history.

      82% of Americans think Congress STINKS. 62% would replace ALL of Congress if they could. 55% want ObamaCare repealed. 64% say the economy is POOR. 14% of Americans think the country is headed in the right direction.

      Raising taxes ALWAYS results in a pull back in the economy. Do you want growth to go to 0? Why could anyone invest to make more money so they could give that money to the US Government who has proven to waste money by the billions?

    4. Dolf on August 6th, 2011 4:20 am

      Obama started an illegal war??

      and don’t you think that everybody should chip in, not just the ones who barely have anything?
      or is it ok to dump everything on the middleclass?
      (cause the poor ppl don’t have anything and you want to have the rich keep everything)

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