Thursday, October 1, 2015

From 10 TRILLION To 19 TRILLION — President Obama has overseen the LARGEST increase in the National Debt in our nation’s history

US Debt Clock :: National Debt of United States
http://www.nationaldebtclocks.org/debtclock/unitedstates
US national debt is so bad now that the U.S. Treasury has simply stopped reporting it…
“Officially,” the U.S. national debt has frozen in time, though “unofficially” it continues to grow at a frenetic pace.
What’s going on? Did the federal government suddenly become fiscally responsible and we are no longer accumulating country-destroying debt?
If you believe the U.S. Department of the Treasury, yes. As reported recently by CNS News, the national debt froze for more than 21 days.
Oh, wait. Look at the official figure being reported: $18,112,975,000,000. That just happens to be the official debt limit set by Congress. Indeed, $18,112,975,000,000 is about $25 million below the current legal debt limit of $18,113,000,080,959.35.

Hiding the true damage by making up numbers as they go

In a March 13 letter to House Speaker John Boehner, R-Ohio, Treasury Secretary Jack Lew explained that he was planning to declare a “debt issuance suspension period.” That was required, he explained, because in 2014 Congress passed legislation that “suspended” the debt limit until March 15, but reinstated it again on that date at whatever level the debt had reached at that time.
“As you know, in February 2014, Congress passed the Temporary Debt Limit Extension Act, suspending the statutory debt limit through March 15, 2015,” Lew said in his letter. “Beginning on Monday, March 16, the outstanding debt of the United States will be at the statutory limit. In anticipation of reaching that date, Treasury has suspended until further notice the issue of State and Local Government Series securities, which count against the debt limit.”
What are State and Local Government Series securities? According to the Congressional Research Service they are “customized securities available for state and local governments to hold proceeds of bond sales.” They are further considered to be part of the federal government debt held by the public.
“Because Congress has not yet acted to raise the debt limit,” Lew continued in his letter, “the Treasury Department will have to employ further extraordinary measures to continue to finance the government on a temporary basis. Therefore, beginning on March 16, I plan to declare a ‘debt issuance suspension period’ with respect to investment of the Civil Service Retirement and Disability Fund and also suspend the daily reinvestment of Treasury securities held by the Government Securities Investment Fund and the Federal Employees’ Retirement System Thrift Savings Plan.”
Some of these same actions have been taken before, during earlier periods when the debt seemed to freeze in time.
http://www.naturalnews.com/051349_Ponzi_scheme_debt_Treasury_Department.html

By This Measure, the U.S. has the 2nd Highest National Debt

USA IS #7 IN DEBT TO GDP, BUT #2 IN DEBT TO REVENUE

In absolute terms, the United States is the most indebted country in the world, accounting for 29% of the world’s $60 trillion of sovereign debt.
However, this is not really a fair comparison in some ways because it does not account for the relative wealth of the country in contrast to poorer economies. That’s why it is standard practice to measure sovereign debt in a ratio comparing it directly to the economic productivity, measured by gross domestic product (GDP).
Using this ratio in comparison with other OECD countries, the United States is a modest 7th place (out of 34) in the rankings in terms of its debt load. However, as Jeffrey Dorfman writes in Forbes, comparing debt and GDP has some considerable problems.
Courtesy of: Visual Capitalist
http://www.visualcapitalist.com/by-this-measure-the-u-s-has-the-2nd-highest-national-debt/

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