President of debt: Newest budget signing will have Obama on cusp of doubling National debt

When Barack Obama signed the newest Congressional budget bill on Nov. 2 that would last through March of 2017, he added to his ongoing legacy of being one of the least fiduciary responsible President’s in history as the portion within the bill that raised the debt ceiling will see America’s future obligations rise to just under $20 trillion.  And perhaps the irony of it all is that President Obama is still making the claim that he is lowering the annual budget deficit despite the fact that his administration has borrowed more money each year than President Bush ever did during his eight year tenure.

When Obama took office in January of 2009, the national debt stood at $10.6 trillion.  And by the sixth year of his administration the debt had increased by more than $1 trillion per year to a total of $18.2 trillion before yesterday’s new increase.

President Obama has signed a budget deal for the next two years that will raise the national debt ceiling from $18.5 trillion to $20 trillion, putting the US debt at almost twice the level it was when he first took office.

The deal passed overwhelmingly in both chambers of the Republican-controlled Congress, with the House voting 266-167 on Wednesday and the Senate approving the package 63-35 on Friday. It allows for the Treasury Department to borrow another $1.5 trillion until March 2017, two months after Obama leaves office. At that point, the country’s public debt will be around $20 trillion and the debt ceiling will need to be raised once again.

When President Barack Obama entered office in 2009, US debt obligations stood at around $10.6 trillion dollars. The debt currently stands at almost $18.2 trillion, and is expected to approach the newly agreed-upon limit by the time Obama leaves the White House in January 2017. – Russia Today

In contrast to his predecessor George W. Bush, President Obama has blown away the prior President’s record debt increase of $5 trillion over his eight year tenure, which had even included monies borrowed to engage in two decade long wars in Iraq and Afghanistan.  And yet these debt increases by Obama have done little to help improve the nation’s decaying infrastructure, or shore up the nation’s healthcare system which has been rocked now by scandals both at the V.A., and in Obamacare providers declaring bankruptcy less than two years after the massively unpopular system went live.

US-debt-ceiling

Obama’s legacy will be one of unprecedented cronyism and waste, with billions alone lost to green companies that went bankrupt within a couple years of receiving Federal funds and guaranteed loans.  And while the U.S. can get away with increasing their debts for now because they still control the checkbook that is the global reserve currency, should this hegemony ever go away, or should interest rates rise to any significant level, then our $20 trillion debt will rest like a millstone around America’s neck, and act as the tombstone for the once great economic empire.

Kenneth Schortgen Jr is a writer for Secretsofthefed.comExaminer.com, Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.

HERE IS A LIST OF EVERY SINGLE TIME OBAMA COMMITTED AN IMPEACHABLE OFFENSE THAT DEMS & MEDIA COVERED UP “Impeach!” It’s been more than eight years since Democrats uttered that word – long enough for anyone to wonder if it was still in their vocabulary, considering the deafening silence through the dozens of serious scandals during President Obama’s administration – but now that President Trump is the man in the White House, it’s back with a vengeance. . . Democrats everywhere are wildly slinging the “I” word, hoping to nail Trump for high crimes and misdemeanors after the New York Times claimed a memo written by former FBI Director James Comey said the president urged him to end the federal investigation into former national security adviser Michael Flynn. . . Some members of Congress are getting in on the action. They include Reps. Maxine Water, D-Calif., and Al Green, D-Texas. Even a Republican, Rep. Justin Amash, claimed Wednesday there are grounds to impeach President Trump. House Oversign Committee Chair Rep. Jason Chaffetz, R-Utah, asked for the alleged Comey memo and other documents. Chaffetz tweeted that he is prepared to subpoena the information. And Sen. John McCain, R-Ariz., invoked “Watergate.” . . Now the Democratic Party is reportedly poll testing impeachment as a 2018 election issue. More than 1 million people signed a petition calling on Congress to impeach Trump. . . Wasting no time Wednesday, the mainstream media sprang into action, enthusiastically echoing the left’s impeachment calls. MSNBC launched a Watergate ad implying Trump is America’s new Richard Nixon. . . “Watergate. We know its name because there were reporters who never stopped asking questions,” says MSNBC host Chris Hayes, who hinted that Trump is next on the impeachment chopping block. “Now, who knows where the questions will take us. But I know this: I’m not going to stop asking them.” . . Meanwhile, some overzealous members of the left plastered fliers around Washington, D.C., demanding all White House staffers resign Wednesday. . . The posters read: “If you work for this White House you are complicit in hate-mongering, lies, corrupt taking of Americans’ tax money via self-dealing and emoluments, and quite possibly federal crimes and treason. Also, any wars will be on your soul. … Resign now.” . . But constitutional scholar Jonathan Turley, who voted for President Obama, warned “impeachment” enthusiasts not to get ahead of themselves with President Trump. Why? . . At this time, there’s no evidence Trump actually committed a crime. . . “The criminal code demands more than what Comey reportedly describes in his memo,” Turley wrote in a May 17 opinion piece posted at the Hill. Turley explained: . . For the first time, the Comey memo pushes the litany of controversies surrounding Trump into the scope of the United States criminal code. . . However, if this is food for obstruction of justice, it is still an awfully thin soup. Some commentators seem to be alleging criminal conduct in office or calling for impeachment before Trump completed the words of his inaugural oath of office. Not surprising, within minutes of the New York Times report, the response was a chorus of breathless “gotcha” announcements. But this memo is neither the Pentagon Papers nor the Watergate tapes. Indeed, it raises as many questions for Comey as it does Trump in terms of the alleged underlying conduct. . . A good place to start would be with the federal law, specifically 18 U.S.C. 1503. The criminal code demands more than what Comey reportedly describes in his memo. There are dozens of different variations of obstruction charges ranging from threatening witnesses to influencing jurors. None would fit this case. That leaves the omnibus provision on attempts to interfere with the “due administration of justice.” . . However, that still leaves the need to show that the effort was to influence “corruptly” when Trump could say that he did little but express concern for a longtime associate. The term “corruptly” is actually defined differently under the various obstruction provisions, but it often involves a showing that someone acted “with the intent to secure an unlawful benefit for oneself or another.” Encouraging leniency or advocating for an associate is improper but not necessarily seeking an unlawful benefit for him. . . -Obama’s Iran nuke deal -Obama knew about Hillary’s private email server -Obama IRS targets conservatives -Obama’s DOJ spies on AP reporters -Obamacare & Obama’s false promises -Illegal-alien amnesty by executive order -Benghazi-gate -Operation Fast & Furious -5 Taliban leaders for Bergdahl -Extortion 17 -‘Recess ‘ appointments – when Senate was in session -Appointment of ‘czars’ without Senate approval -Suing Arizona for enforcing federal law -Refusal to defend Defense of Marriage Act -Illegally conducting war against Libya -NSA: Spying on Americans -Muslim Brotherhood ties -Miriam Carey -Birth certificate -Executive orders -Solyndra and the lost $535 million -Egypt -Cap & Trade: When in doubt, bypass Congress -Refusal to prosecute New Black Panthers -Obama’s U.S. citizen ‘hit list’