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WN: Treasury: Under Obama, U.S Gov't Debt Held by Public Up 90% -


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The U.S. Treasury released its last Daily Treasury Statement for fiscal 2013 yesterday afternoon, revealing that during the presidency of Barack Obama the U.S. government debt held by the public has increased 90 percent.

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The danger is clear and obvious, yet many do not believe a major financial collapse can happen.    The dollar isn't the only currency in trouble.  Practically all of western Europe and most third world countries have bought into the financial scheme of the west.   Debt management keeps western finance running; debt upon debt upon debt.   The dollar and its co-conspirators the Euro, the Japanese yen and to some extent the Hong Kong dollar are all stretched to the max.  All of it is worthless money backed only by greater debt.

 

Meanwhile certain foreign interests are quietly assuming their own financial empire by the use of commodity based finance.  Russia, for example, is huge with natural gas and has already gotten western Europe to invest heavily in its product.  When Mr. Putin tells Britain and France to withdraw their military from threatening Syria, those two countries say, "yes sir".   Money talks.   Iran, Turkey and China are heavy into gold backed trade.  China buys Iranian oil to fuel its booming industry and they use gold to do it.  Turkey needs Iranian oil too and pay for it with truck loads of the yellow metal.  

 

In the west, the only commodity of value is Saudi oil and that is nearly depleted.  The Ghawar oil field, largest on the planet (170 miles x 19), has a water-cut(*) of over 80%.   In 2010, the Petroleum Society of Engineers estimated that the Ghawar field had approximately 70 billion gallons of crude oil remaining.   That year 9 billion gallons were pumped out.  By 2012 the rate had increased to 12 billion annually.  Do the math.

 

Almost everyone knows that US debt is not being handled intelligently.  If it were, posts like this would not exist.   As always the government may react only when a crisis happens.  That's a big MAY.   Given the inability of congress and POTUS to agree on anything except militarism and bank support, nothing MAY be done even in the likely event of a financial collapse - the prospect of which grows greater each day.

 

IF GOD DOES NOT JUDGE AMERICA HE WILL HAVE TO APOLOGIZE TO SODOM AND GOMORRAH.

 

and that's just me, hollering from the choir loft...

 

(*) water-cut

When a pocket of crude oil is discovered, the natural pressure is sometimes sufficient to force some of it to the surface.  As it's drawn off, however, the pressure decreases.  Eventually it reaches zero pressure and another method must be employed to extract the valuable muck.  In Saudi Arabia, salt water is pumped into the oil field thus increasing pressure at the well head.   The forced water technique is called the water-cut and the ratio of water to crude yields an accurate estimate of remaining reserves.  A water cut of 85%, for example, means that only 15% of the original oil reserve remains.  As the water-cut increases, less crude oil is extracted.   A recent statement by the Petroleum Society of Engineers has said that the Saudis may have damaged the entire oil reserve as a result of their aggressive water-cut methods. 

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Yet Obama is still hailed as the best thing since sliced bread. Sigh.

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Yet Obama is still hailed as the best thing since sliced bread. Sigh.

One thing that is obvious with him is that he is an expert at "shifting blame".  He's scarey good at it.

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Yet Obama is still hailed as the best thing since sliced bread. Sigh.

 

Forgive me for asking, but who is still saying this?  even most of the liberals I know do not like him...the best thing they seem to be able to say about him is that 'at least he is better than Bush"...which is sort of like being better than the Cubs

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Yet Obama is still hailed as the best thing since sliced bread. Sigh.

 

Forgive me for asking, but who is still saying this?  even most of the liberals I know do not like him...the best thing they seem to be able to say about him is that 'at least he is better than Bush"...which is sort of like being better than the Cubs

 

In my opinion, its blatantly obvious.  Not many are screaming about raising the debt ceiling, most just demand the gov open up again, and act all blase over the wanted increase for our debt.  Not many are screaming to stop Obamacare.  If in either of the previous examples, if the people were "fed-up" and storming DC (by storming, I don't mean attacking by the way) I just don't see his base turning on him. (yet) 

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Yet Obama is still hailed as the best thing since sliced bread. Sigh.

 

Forgive me for asking, but who is still saying this?  even most of the liberals I know do not like him...the best thing they seem to be able to say about him is that 'at least he is better than Bush"...which is sort of like being better than the Cubs

 

In my opinion, its blatantly obvious.  Not many are screaming about raising the debt ceiling, most just demand the gov open up again, and act all blase over the wanted increase for our debt.  Not many are screaming to stop Obamacare.  If in either of the previous examples, if the people were "fed-up" and storming DC (by storming, I don't mean attacking by the way) I just don't see his base turning on him. (yet) 

 

 

 

As for ObamaCare, most on the left that dont like it do so becuase it does not go far enough towards a single payer system, but it is a step in that direction so they would not want to get rid of it.

 

as for the debt ceiling...I know this will not be popular, but the consequences of the country defalutign on it's debt would be catastrophic to say the least.  There is a time to cut spending, but there is also a time to fulfill one's obligations.  I would aslo put forth it would be unbiblical for a Christan to support the government not paying it debts.

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Yet Obama is still hailed as the best thing since sliced bread. Sigh.

 

Forgive me for asking, but who is still saying this?  even most of the liberals I know do not like him...the best thing they seem to be able to say about him is that 'at least he is better than Bush"...which is sort of like being better than the Cubs

 

In my opinion, its blatantly obvious.  Not many are screaming about raising the debt ceiling, most just demand the gov open up again, and act all blase over the wanted increase for our debt.  Not many are screaming to stop Obamacare.  If in either of the previous examples, if the people were "fed-up" and storming DC (by storming, I don't mean attacking by the way) I just don't see his base turning on him. (yet) 

 

 

 

As for ObamaCare, most on the left that dont like it do so becuase it does not go far enough towards a single payer system, but it is a step in that direction so they would not want to get rid of it.

 

as for the debt ceiling...I know this will not be popular, but the consequences of the country defalutign on it's debt would be catastrophic to say the least.  There is a time to cut spending, but there is also a time to fulfill one's obligations.  I would aslo put forth it would be unbiblical for a Christan to support the government not paying it debts.

 

I submit to you, that when the money is gone its gone. Its also unlawful to spend money you don't have.  If we did that with our personal account we would be arrested for fraud.  Its the law, to break the law of the land is unbiblical also in my opinion.  Although DC does tend to make its own laws when it comes to how they spend.  Also, when do we reap the consequences for a debt limit that we can NEVER pay back.  Its crash now or later...not much of a choice if you ask me.

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I submit to you, that when the money is gone its gone. Its also unlawful to spend money you don't have.  If we did that with our personal account we would be arrested for fraud.  Its the law, to break the law of the land is unbiblical also in my opinion.  Although DC does tend to make its own laws when it comes to how they spend.  Also, when do we reap the consequences for a debt limit that we can NEVER pay back.  Its crash now or later...not much of a choice if you ask me.

 

 

 

it is not a good comparison between an individual and a country for a multitude of reasons.

 

And in our personal accounts the vast majority of the country spends money they do not have, it is called a credit card.  It is also called a mortgage and car loans and so forth.

 

Does the Bible not tell us to pay what we owe?

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I submit to you, that when the money is gone its gone. Its also unlawful to spend money you don't have.  If we did that with our personal account we would be arrested for fraud.  Its the law, to break the law of the land is unbiblical also in my opinion.  Although DC does tend to make its own laws when it comes to how they spend.  Also, when do we reap the consequences for a debt limit that we can NEVER pay back.  Its crash now or later...not much of a choice if you ask me.

 

 

 

it is not a good comparison between an individual and a country for a multitude of reasons.

 

And in our personal accounts the vast majority of the country spends money they do not have, it is called a credit card.  It is also called a mortgage and car loans and so forth.

 

Does the Bible not tell us to pay what we owe?

 

The bible tells us to be smart.  You don't go into debt over what you can afford.  This government has done that.  We were not created to be fools and spends foolishly, but alas many do.

 

Credit Cards etc...aside.  My example was more towards writing checks, if you write a bad check there are consequences, sometimes even jail. 

 

Not only that, just because a vast majority spends money they don't have doesn't mean its right or acceptable.  I think that that attitude is now coming to head, and will probably soon explode in all of our faces.

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