Obama has increased the national debt by almost $500,000,000,000 since the Democratic convention, and he says that 0.0004 mole fraction CO2 threatens our children’s future.
Disrupting the Borg is expensive and time consuming!
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Reblogged this on Climate Ponderings.
I re-wrote a section of Obama’s speech to reflect this post-
Obama 2.013 channels Obama 2.006:
We, the people, still believe that our obligations as Americans are not just to our desire for immediate entitlements, but to all posterity. We will respond to the threat of ballooning debt, knowing that the failure to do so would betray our children and future generations. Some may still deny the overwhelming judgment of economists, but none can avoid the devastating impact of raging spending, and crippling interest payments on our debt, and powerful special interests demanding their share of my money. The path towards sustainable spending will be long and sometimes difficult. But America cannot resist this transition; we must lead it. We cannot allow other nations to enable our growing debt, as it crushes new jobs and new industries – we must claim the promise of a budget surplus and shrinking debt. That is how we will maintain our economic vitality, for it is economic prosperity that funds the preservation of our national treasure – our forests and waterways; our croplands and snowcapped peaks. That is how we will preserve our planet, commanded to our care by God. That’s what will lend meaning to the creed our fathers once declared.
Steve, add another zero. The increase has been about $5 trillion, not $500 billion.
Read the whole sentence, please.
Oops.
The democratic convention must have inconvienced him and slowed down his spending. 😆
Is this what tyranny looks like? Smart meters today RFID chips tomorrow.
http://www.chicagotribune.com/news/local/suburbs/naperville/chi-naperville-smart-meter-arrest-20130123,0,6519967.story
At a dollar a second, it would take over 521,000 years to accumulate this much debt.
Or…
“There are 24 hours in one day. 365 days in a year.
24 X 365 days in a year, = 8,760 hours in one year.
What if you had a job that paid $1,000.00 an hour. A thousand dollars an hour isn’t a bad wage huh? What if you could work 24 hours a day, and 7 days a week, every day of the year. How many years would you have to work to earn 3.7 TRILLION DOLLARS?
After 1 year $8,760,000.00 (8.76 million dollars)
After 10 years $87,600,000.00 (87.6 million dollars)
After 100 years $876,000,000.00 (876 million dollars)
After 1,000 years $8,760,000,000.00 (8.76 billion dollars)
After 10,000 years $87,600,000,000.00 (87.6 billion dollars)
After 100,000 years $876,000,000,000.00 (876 billion dollars)
After 400,000 years $3,504,000,000,000.00 9 (3.5 trillion dollars)
It would take 400,000 years to earn 3.5 trillion dollars, making 1 thousand dollars an hour. I know it isn’t 3.7 trillion, but I figured after 400,000 years, you could use a break. Make it just 30 minutes though, because you still have 196 billion dollars to earn. Don’t worry, after your break you only have a little over 20,000 years to go, and you will have earned enough to pay for our budget for just the year 2011.”
That is an awful lot of content, to just copy from my web page, without even giving me credit or a link.
http://www.squidoo.com/the-us-national-debt
or
http://www.significancemagazine.org/details/webexclusive/1379025/Big-numbers-and-big-debts_.html
Well, the world’s Western economies are in uncharted territory now. Huge debts, no ability to pay them off, and no ability to meet future welfare or social security obligations. This is not an issue for American’s children. It’s something that may blow up this year or next year or in a few years from now. The US citizenry is also stratified and you have a leader not capable of the challenges he faces. So if things went bad, he would most likely panic… Of course, this is all just a worse case scenario. In a best case scenario economic growth pics up and these problems are deferred for another decade.
As long as we have debt money issued by a private bank we will obviously be drowning in debt.
“There are two ways to conquer a nation. One is by war. The other is by debt”- John Adams
I don’t have a problem with the principle that one should run a deficit during the bad times. Problem is, as far as politicians are concerned, there are never good times.
There is quite a pyramid scheme going on and it won’t take that long for the whole thing to come crashing down.