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Politics : Formerly About Advanced Micro Devices

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To: D.Austin who wrote (843008)	3/15/2015 8:29:15 PM
From: FJB	2 Recommendations Recommended By D.Austin locogringo Read Replies (1) of 1577464

It’s Official – Obama’s Deficits in 6 Years more than all Prior US Presidents Combined Posted by Jim Hoft on Sunday, March 15, 2015, 8:32 AM Guest post by Joe Hoft A deficit occurs when annual government spending is greater than its revenues. When a government overspends resulting in a deficit, it must borrow money to stay afloat. Currently the US the government has over $18 Trillion in US Debt. This is the result of years of overspending. Of the $18 Trillion in US Debt, $13 Trillion is debt owed to the public but $5 Trillionis debt the government owes to other government agencies, like Social Security, where the government borrowed from these agencies when it needed money. The $13 Trillion in debt owed to the public is due to deficit spending and the accumulated interest payables related to the large amount of debt. Per www.whitehouse.gov, the accumulative total for all US Deficits combined was $11.6 Trillion through the end of 2014 (see Table 1.1—SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS (–): 1789–2020). This $11.6 Trillion along with accumulated interest payables are what account for the $13 Trillion in US debt outstanding. A closer look at the deficits recorded at www.whitehouse.gov shows that the Obama Administration has accumulated more in deficits in six years than all prior years combined! Cont...

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