Posted on October 15, 2009. Filed under: Facts / History / Nostalgia... |


UPDATED:  Monday, June 7, 2010 6:50 PM (My original post follows my update)


My original post below was posted on October 15, 2009 when the U.S. National Debt was up to $11,907,608,545,823.  It is now $13,054,678,890,235 and rising every second, and Obama is just getting started!  Somehow, I don’t see this as being Bush’s fault.  If you remember, Obama ran his campaign saying he would cut spending, strengthen job growth and he would not be "politics as usual" and ran on transparency, among other glorious promises.  Do you see the change you voted for?  Has he kept even one promise and stuck with it?


Watch this video of him saying just that.  As usual, he’s all talk, no substance…

Obama: Transparency Will Be Touchstone


Ask yourself, "How is this working out for us?"  All you have to do is read the very first comments from people.  Most comments were pro-Obama.  Follow through to present-day comments and you get the complete opposite from a host of people who are not happy with the way he’s running this country into the ground.  I’m neither Democrat nor Republican, but I would take another 8 years of Bush over another year with Obama any day.


Liberals are insisting Bush was worse; Conservatives are insisting Obama is worse, so let’s look at the numbers—Bush Deficit vs. Obama Deficit…


Bush Deficit vs. Obama Deficit in Pictures




– – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –

Our government is spending much faster than we can earn it, print it and borrow it.
Here are the stats as of 10-15-09.  Check here:  http://www.davemanuel.com/us-national-debt-clock.php for daily stats.
An Overview of the United States National Debt

The Current Outstanding Public Debt of the United States is:


Last Updated: Thursday, October 15th, 2009 (updated daily)

Every man, woman and child in the United States currently owes $39,192 for their share of the U.S. public debt

Public Debt: $7,489,508,528,359.81
Intragovernmental Holdings: $4,418,100,017,463.43

Total U.S. National Debt: $11,907,608,545,823.24

Question: Who owns the public debt?

Answer: Mutual funds, pension funds, foreign governments, foreign investors, American investors, etc.

Which Foreign governments own the most U.S. debt?

Answer: Here is the Top 10 (as of January 2009)

1. China, $739 billion dollars
2. Japan, $634.8 billion dollars
3. Oil Exporters*, $186.3 billion dollars
4. Caribbean Banking Centers**, $176.6 billion dollars
5. Brazil, $133.5 billion dollars
6. United Kingdom, $124.2 billion dollars
7. Russia, $119.6 billion dollars
8. Luxembourg, $87.2 billion dollars
9. Taiwan, $73.3 billion dollars
10. Hong Kong, $71.7 billion dollars

*Includes oil exporting countries such as Saudi Arabia and Iran

**includes countries such as Bermuda and the Cayman Islands

Of the $3.072 trillion dollars of US debt that is owned by foreign governments, China and Japan own nearly half, as evidenced by this chart:

Growth of US Debt Over Past 50 Years

Current: $11,907,608,545,823.24
2004: $7,379,052,696,330.32
1999: $5,656,270,901,615.43
1994: $4,692,749,910,013.32
1989: $2,857,430,960,187.32
1984: $1,572,266,000,000.00
1979: $826,519,000,000.00
1974: $475,059,815,731.55
1969: $353,720,253,841.41
1964: $311,712,899,257.30
1959: $284,705,907,078.22


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Whenever I update a post, I always add my update at the top so when you read my post, you will get the most updated information before reading what I previously posted. My original post was on 10-15-09, updated on 06-07-10. A the top in blue: "UPDATED: Monday, June 7, 2010 6:50 PM (My original post follows my update)". Please read MY UPDATE AND YOU WILL SEE THAT I HAVE UPDATED THIS POST. Thanks for stopping by, but please read my whole post from top to bottom before commenting. Thank you!


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