Grim Milestone: Obama-Era Debt Accumulation Hits $6 Trillion

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Under President Obama, the national debt has increased 57%:

(CNSNews.com) — The debt of the federal government has now increased by $6 trillion during the time that Barack Obama has been president, according to the U.S. Treasury.

At the close of business on Jan. 20, 2009, the day Obama was first inaugurated, the debt of the federal government was $10,626,877,048,913.08. At the close of business on Thursday, Feb. 28, the debt of the federal government hit $16,687,289,180,215.37.

Meanwhile, the Democrats have decided to stiff Duke Energy which extended to the party a $10 million line of credit to fund their convention after the cost of the event went well beyond what they were able to raise:

The Democratic National Committee has no plans to repay Duke Energy for an unprecedented $10 million line of credit it guaranteed to help the Democratic convention’s local host committee put on President Obama’s three-day nominating convention in Charlotte, N.C., last September.

A Duke company official said the company was claiming the money as a business expense for tax purposes, meaning shareholders will foot $6 million of the cost, according to a report in the Charlotte Observer.

You’ve got to hand it to the Democrats. They’re consistent. They run the nation like they run their party.

Rob Port is the editor of SayAnythingBlog.com. In 2011 he was a finalist for the Watch Dog of the Year from the Sam Adams Alliance and winner of the Americans For Prosperity Award for Online Excellence. In 2013 the Washington Post named SAB one of the nation's top state-based political blogs, and named Rob one of the state's best political reporters. He writes a weekly column for several North Dakota newspapers, and also serves as a policy fellow for the North Dakota Policy Council.

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  • Thresherman

    The Democrats claim that corporations should not be allowed to make political contributions but now seem just fine to be doing just that with Duke Energy. If you don’t pay back a line of credit is that not a defacto contribution?

  • $8194357

    “A pen in the hand of this president is far more dangerous than a gun in the hands of 200 million law-abiding citizens.”

  • Wayne

    “A Duke company official said the company was claiming the money ($10 million) as a business expense for tax purposes, meaning shareholders will foot $6 million of the cost, according to a report in the Charlotte Observer.”

    Does that mean that taxpayers will foot the other $4 million of the cost?

  • JoeMN

    In an industry where government regulators set rates, and with generous energy green subsidies and grants everywhere,

    Duke energy and the Democrat party are but two affiliates of the same entity

    Liberals hosing the taxpayer Inc.

    http://nlpc.org/stories/2011/08/03/duke-energys-lucrative-wind-farm-buying-spree

  • mickey_moussaoui

    Like any/all power companies, Duke will pass this expense on to the consumers. Duke is a very large utility with many customers in plenty of states. When they negotiate for their next rate hike (most likely during the next year) the obama friendly admin will give it a wink wink nod nod and the fix is in. No problemo for friends of the regime.

  • two_amber_lamps

    Ahead lies the transition to socialism…. and beyond, just over the horizon the promise of a GRAND UTOPIA! Forward to HOPE AND CHANGE!

    0:00-2:44

    http://www.youtube.com/watch?v=AOOs8MaR1YM

    ** Cameo appearance by Trannitized Proof’s Stalker at 1:27…..

    • $8194357

      Indoctrinated lemming=brainwashed Cloward/Piven cannon fodder for the communist cause !

  • sbark

    ……but hey…..N.Dak should add to it by grabbing the “free” Medicare money offered up as a carrot on a stick for entry into ObamaCare.

    ObamaCare—if the death panels dont get you, the United States Preventive Services Task Force (USPSTF) will…………..that is the “advisory” panel inside ObamaCare that infamously reco’d cut of mamograms for for women over 50……More recently, the USPSTF advised against use of the prostate specific antigen (PSA) test. The routine screening of all men over the age of 50 via PSA testing was originally thought to have revolutionized the detection and treatment of prostate cancer.
    ObamaCare will ration healthcare either via death panels or cuts in pre–emptive testing

  • awfulorv

    Barack H. Obama has been, to the United States of America, as Lansford Hastings was to the Donner Party…

    • awfulorv

      Mr. Hastings was the charlatan who touted the Donner party on taking a short cut to the coast, although he’d never actually taken the route himself. He was the primary reason for the tragedy that ensued, which seems to mirror, as if he’d drawn it, the route Obama is taking.

  • $8194357

    Limited federal powers is what we were given by the Constitution.
    What the heck happened?

    Quote:

    What are the Enumerated Powers of the President?

    The powers of the President are “carefully limited” and precisely defined by our Constitution. In Federalist Paper No. 71 (last para), Alexander Hamilton asks,

    …what would be … feared from an elective magistrate of four years’ duration, with the confined authorities of a President of the United States?…[emphasis added] 2

    Read more:

    http://freedomoutpost.com/2013/03/the-presidents-enumerated-powers-rulemaking-by-executive-agencies-executive-orders/#ixzz2MWySH44o

  • Hal801

    Congress has allowed this $6Trillion in new debt by not passing a budget and agreeing to endless continuing resolutions.

  • http://ndgoon.blogspot.com Goon

    The Liberal Buffoons will come in here and defend this clown and say, Bush, Bush, Bush…

  • $8194357

    I thought Obama “saved Detroit.” I seem to recall hearing something to that effect during the presidential campaign. Funny how there’s no contradiction between being saved by Obama and being ranked the Number One Most Miserable City in America.
    -Jonah Goldberg
    And now Barry is in the “process” of saving America, huh.

    • two_amber_lamps

      Goes right along with their “jobs saved” metric they used to justify the economic stimulus plans. No identifiable way to measure success of the program so just “invent” a number that will somehow placate the masses and fool them into believing Keynesian economics works.

      Their invented stats indicate success but reality proves them utterly wrong.

      Point out the fact that their stats are a sham, or their programs are failures and you clearly must be some manner of hate-monger.

      Simple argument used by the left time and time again…

      • $8194357

        Creating the “jobless recovery” for the “manufactured crisis” they themselves created…Been workin for the leftist voodoo Keynesians for a very long time.
        The crony capitalist destroy from within agendas coming to fruition very soon, IMO.

      • Atari

        The stimulus behaved as a cushion for a collapsing economy. The “jobs saved” metric can be derived from examining job loss before and after the package was implemented. By the time the economy bottomed out and began recovering, unemployment hovered at around 10% for several months, and proceeded to drop to 7.8% over the next three years.

        If cushioning a plunge into another depression, and then assisting in its recovery, as well as saving several “to big to fail” businesses and preventing more mass lay-offs is a failure, then it is you who is blind to the true order of the world.

        FDR spent large amounts of federal funds on infrastructure and assisting businesses in landing back on their feet and ultimately, these plans proved critical to pulling the nation out of the Great Depression.

        On top of this, a majority of economic historians agree that spending and stimulating the economy promotes growth more than any other known approach.

        The numbers of “jobs saved” can’t be measured accurately, but unemployment can, and under President Obama unemployment has very clearly dropped,and the economy is very clearly growing, despite the nation plunging into a recession when he took office.

        • two_amber_lamps

          Leftist pigeon pecks button… Good Job! Collect your food pellet below.

          http://www.seanet.com/~realistic/pigeon.jpg

          • $8194357

            Vomit up the revisions much?
            FDR spent us out of the depression?
            Sheesh…Keynesians are a gullible lot.
            Indoctrinated Lenins leftist useful idiots, one and all.

  • sbark

    CBO projecting 2013 Fed trea revenues very near 2007 record levels………but Obama, with record funds pouring in…….still will run overa trillion dollar deficit……

    ……..but the dem’cats will still say we dont have a spending problem. Democrats who claim we just need more revenue and no need to cut anything except military spending from the budget can now explain how they can come close to balancing the budget without raising taxes on the middle class. You cannot get $845 billion from the rich and cutting defense alone. The only people left to tax are those who aren’t paying any tax now, or are paying very little……the low info free stuff voters—who will riot at the drop of a hat, after hearing the class envy for decades.

  • Ray Seltz

    The only worse thing about having 2 of the 3 worst Presidents back-to-back; they both had 2 terms. Can’t wait for 2016 to finally put an end to the worst 12 years that we have experienced. (Bush’s first 4 years were acceptable- 2nd term was the train wreck)

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