USA debt scenario.

Treasury Secretary Geithner called for Congress to raise the debt ceiling in March 2011
Treasury later suggested a $2 trillion debt cap raise in May 2011 as the debt neared $14.3 trillion
Treasury Secretary Geithner predicted a double-dip recession if Congress failed to lift debt ceiling
Obama’s Treasury raided federal retiree pensions to fund government after hitting the debt limit
Federal Reserve official warned in March 2011 that the U.S. is on a fiscal path towards insolvency
Federal Reserve Bank President Richard Fisher warned policymakers are at a “tipping point”
Previously, liberals voted against raising the debt limit due to “irresponsible GOP fiscal policies”
Obama said in April, 2011 that he regrets his own vote against raising the debt limit back in 2006
Minority Leader Steny Hoyer (D-MD) called his past voting to raise the debt ceiling a “mistake”
In April 2011, Steny Hoyer described the debt-limit fight as “the next hostage event”
In 2007, Senator Claire McCaskill (D-MO) opposed and voted against raising the debt ceiling
In 2011, with Democrats in charge, McCaskill called Republicans “profoundly irresponsible”
Senate Majority Leader Harry Reid (D-NV) also voted against raising the debt ceiling
Reid’s spokesman said that Reid had previously stated that “he should have voted differently”
Liberal Senator John Kerry (D-MA), voted against the debt-ceiling limit increase in 2006
Assistant Democratic Leader James Clyburn (D-SC) also voted against raising the debt ceiling
International Monetary Fund (IMF) said the U.S. lacks credibility on reducing our public debt
GOP to raise the debt limit from the level GOP leaders called ‘beyond comprehension’ in 2010
Standard & Poor lowered the U.S. credit rating outlook to “negative” in April 2011 due to our debt
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)19:59:59 No.224387454
>>224387399 (OP)
Mason-Dixon poll: Most Americans support a balanced budget amendment to the Constitution
Obama said we don’t need a balanced-budget amendment to tell them how to do their jobs
Obama said “professional politicians” understand the debt crisis better than the general “public”
CBO issued an ominous report on U.S. debt warning of a “sudden fiscal crisis” (June 2011)
White House staffers received raises that were more than double the national average (2011)
Obama said that he would rather be talking about the NFL lockout than the debt crisis (2011)
Obama held senior and vets benefits hostage in exchange for job-killing tax increases
Obama threatened the withholding Social Security checks, veteran checks, and disability checks
Obama walked out of debt talks on deficit reduction, telling GOP leaders “enough is enough”
Standard & Poor’s (S&P) revised their U.S. debt outlook as negative on CreditWatch (July 2011)
Obama during debt-ceiling debate: “I always have hope. Don’t you remember my campaign?”
Obama blamed Bush for the debt-ceiling crisis and then warned of “Armageddon” (2011)
CBS polling showed that Americans opposed increasing the debt ceiling, by a 69% to 24% margin
>>224387504 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:00:35 No.224387504
>>224387454
Cain: Obama “allowed it to become a crisis so he could use it as leverage to get what HE wants”
Obama administration perpetuated many myths about the risks of not letting them spend more
Myth #1: Not increasing the debt ceiling means the U.S. government would default on its debt
Congress and the president have failed to agree on debt ceiling increases before without default
Past failures include December 1973, March 1979, November 1983, December 1985, August 1987, November 1995, December 1995 to January 1996, and September 2007
The 14th Amendment to the Constitution requires that debt payments come first before spending
Former Federal Reserve Chairman Alan Greenspan: “we can always print money” to pay our debts
Alan Greenspan said there was “zero probability of default” since we can just print more money
Myth #2: Uncertainty over the payment of U.S. debts would create chaos in financial markets
President Clinton used revenues to pay interest on the debt from December 1995 to January 1996
Myth #3: Obama didn’t know if there was money to send off Social Security checks on August 3rd
Daily revenue includes enough money to pay the interest on the debt, cover all Social Security checks, Medicare, Medicaid and children’s health insurance, defense, federal law enforcement and immigration, all veteran benefits, and be capable of responding to natural disasters
>>224387555 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:01:03 No.224387555
>>224387504
Obama and Democrats tried to terrify elderly people who are dependent on their Social Security
Budget Director Jacob Lew wouldn’t answer if they would prioritize Social Security payments
Myth #4: Mortgage interest rates would rise dramatically if the debt ceiling isn’t increased
Stopping the government from borrowing more money frees up private lending resources
Mortgage interest rates may have lowered due to more lending available for potential homeowners
Governments charge lower interest rates for those countries with lower debt-to-income ratios
Myth #5: Time is running out getting a debt deal, therefore it must be done immediately
There have been many times over recent decades where negotiations extended past the debt limit
Myth #6: Democrats suggested there will be a second depression if government spending is cut
Obama promised that a “temporary” increase in federal spending would “stimulate” the economy
Obama’s prescription has been a 28% spending hike since 2008 and more than $4 trillion in deficits
Myth #7: The value of the dollar would plummet if the debt-ceiling wasn’t raised
Less government borrowing means lower future taxes, thus U.S. a more attractive place to invest
Increases in foreign investment could cause the value of the U.S. dollar to rise over time
GOP-controlled House passed $6 trillion in spending cuts in exchange for a debt ceiling increase
‘Cut, Cap and Balance’ cuts spending by $111 billion with reductions in future spending growth
The bill would have required that a constitutional balanced budget amendment be sent to the states
>>224387642 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:02:02 No.224387642
>>224387555
The bill would have required that a constitutional balanced budget amendment be sent to the states
Obama threatened to veto ‘Cut, Cap and Balance’ if it passed both the U.S. House and Senate
Sen. Harry Reid (D-NV) and Senate Democrats “tabled” ‘Cut, Cap and Balance’ without debate
Obama declared: “I’ve got to get the debt ceiling raised. We’re going to keep working on that”
Obama & Democrats pushed for a debt ceiling increase of $2.4 trillion to get past the 2012 elections
Obama stood on the sidelines and tweeted while Boehner passed two bills through the House
Obama insisted that it will be Republicans’ fault if Social Security checks don’t go out (July 2011)
Sen. Majority Leader Harry Reid (D) enforced a filibuster on his own debt-ceiling bill (July 2011)
Budget Control Act of 2011 was signed by Obama raising the debt ceiling by trillions over time
Finalized 2011 debt deal represents the largest debt-limit increase, $2.4 trillion, in U.S. history
95 House Democrats voted against raising the debt ceiling, compared to 66 House Republicans
26 Democrat Senators also voted against the final deal to raise the debt ceiling
The two largest debt-limit increases in U.S. history came in back-to-back years under Obama
Democrats and Obama had previously raised the debt limit by $1.9 trillion on February 12, 2010
Debt-ceiling deal initially raised the ceiling by $400 billion up to $14.694 trillion in August 2011
>>224387795 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:03:49 No.224387795
>>224387642
Another increase of $1.2 or $1.5 trillion relies on action taking by a new Congressional committee
Committee of 12 lawmakers must report cuts by Thanksgiving to avoid automatic trigger cuts
The cuts recommended by the super committee must be passed by Congress by Dec. 23, 2011
James Clyburn (D-S.C.) said he intended to use the super committee to “close the wealth gap”
Treasury discussed printing more money (QE3) in August 2011 to prop up the stagnant economy
Credit ratings agencies warned the U.S. to reduce its debt-to-GDP ratio quickly or be downgraded
Moody’s: United States government must stabilize debt-to-GDP ratio at 73% by 2015 “to ensure that the long-run fiscal trajectory remains compatible with a AAA rating”
Fitch Ratings warned of a possible downgrade if more is not done to deal with our deficits
Treasury Secretary Tim Geithner said there was “no risk” of the U.S. losing its top credit rating
China’s Dagong Global Credit Rating agency downgraded the U.S. credit rating from “A+” to “A”
China’s rating agency said the U.S. currency will be “discarded” as the world’s reserve currency
China, the U.S.’ biggest foreign creditor, said that the “good old days” of borrowing were over
Standard & Poor’s downgraded United States’ credit rating to AA+ for the first time in history
S&P also issued a renewed “negative” outlook due to unstable “medium-term debt dynamics”
S&P executive stated that there was a 1 in 3 chance of a future downgrade within 6-24 months
S&P: the debt bill recently passed by Congress was not enough to stabilize the U.S. debt crisis
Obama administration: “A judgment flawed by a $2 trillion error speaks for itself”
Treasury Secretary Tim Geithner: S&P showed “terrible judgment” by lowering the U.S. rating
>>224387858 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:04:30 No.224387858
>>224387795
Geithner: S&P has “shown a stunning lack of knowledge about the basic U.S. fiscal budget math”
Standard & Poor’s called the Obama administration’s criticism “complete misrepresentation”
S&P: “underlying debt burden of the U.S. is rising and will continue to rise over the next decade”
Obama’s former economic adviser said we’re “pretty darned f--ked” after credit rating downgrade
Geithner predicted that China and other investors would remain strong purchasers of U.S. debt
Sen. Allen West on Geithner: “When you open that refrigerator door the lights don’t come on”
John Kerry (D-Mass.) spun the downgrade of the U.S. credit rating as “the Tea Party downgrade”
Obama campaign adviser David Axelrod also spun the downgrade as a “Tea Party downgrade”
Barney Frank blamed excessive military spending as the primary reason for our credit downgrade
Standard & Poor’s also downgraded government-sponsored entities Fannie Mae and Freddie Mac
Federal Reserve pledged to keep its key interest rate at a record low at least through mid-2013
The U.S. dollar tumbled the most in at least 40 years against the Swiss franc following the pledge
Vice President Joe Biden was tasked with selling the debt-ceiling deal to the Chinese (Aug. 2011)
Justice Department probed S&P’s 2008 mortgage product ratings following the U.S. downgrade
Critics are concerned over the timing of the announcement & that only S&P was named in reports
Study: 8 in 10 politicians in Congress lack economic studies in their educational backgrounds
GOP members of the “Super Committee” put forward two good-faith plans - both were rejected
Democrats denied “walking away from the table” during meetings on November 9, 2011
Economists warned that a super committee failure could trigger another U.S. credit downgrade
“Super Committee” was unable to agree on $1.2 trillion in deficit reduction (November 21, 2011)
>>224387951 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:05:26 No.224387951
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>>224387858
Failure triggered $1.2 trillion in automatic sequestered cuts over 10 years starting in 2013
Federal debt is still forecast to rise more than $9 trillion over the next 10 years even with the cuts
Democrats and Obama made no effort to help the debt reduction committee come to a resolution
Sen. Harry Reid (D-NV) and Chris Dodd (D) visited Ted Kennedy’s grave during the negotiations
Sen. Harry Reid (D-NV) said a prayer while Chris Dodd poured whiskey on the grave (2011)
The Obama 2012 re-election campaign decided it was better politics to let the committee fail
Failure of the “Super Committee” gave Obama an excuse for the faltering U.S. economy
President Obama immediately vowed to veto any effort to spare the Pentagon deeper cuts (2011)
Obama blamed Republicans in Congress, yet praised Democrats for being willing to compromise
Congressman Barney Frank (D-MA) said that the super committee’s failure was “good news”
Lt. Col. Bob Maginnis: Debt-panel failure was a “self-inflicted wound to national security”
Speaker John Boehner (R-OH) blamed President Obama for setting the deficit panel up for failure
Obama had insisted that $450 billion of more failed stimulus policies must be included in the deal
Obama also issued a veto threat on any agreement that did not include job-killing tax increases
Democrats insisted on tax hikes on American job creators, which would make the economy worse
Sen. Harry Reid (D-NV) said “millionaire job creators are like unicorns… they don’t exist” (2011)
>>224388032 #
...Anonymous (ID: tkbKryFX)
08/25/19(Sun)20:06:02 No.224388011
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Please make a paste bin and drop a link here I can’t keep up but I want to save this.
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:06:11 No.224388032
>>224387951
Fitch Ratings placed the U.S. on “negative” watch following the Supercommittee’s failure (2011)
“Negative” outlook indicates a 50% chance that Fitch downgrades the U.S. over the next 2 years
Gov. Chris Christie (R-NJ) asked President Obama, “What the hell are we paying you for?” (2011)
Obama requested another $1.2 trillion debt ceiling increase, putting the ceiling at $16.394 trillion
Treasury again raided federal pensions to fund the government after hitting the debt limit (2012)
Sen. Marco Rubio (R-FL) sent a letter to Obama: You’re turning America into a ‘deadbeat nation’
Rubio: “I will oppose your request to continue borrowing and spending recklessly” (2012
>>224388070 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:06:44 No.224388070
>>224388032
Marco Rubio (R-FL) noted that, “Tax increases will not solve our $16 trillion debt” (December 2012)
S&P downgraded the credit ratings of nine European Union (EU) nations (January 13, 2012)
France and Austria were stripped of their triple-A status, but Germany remained unscathed
S&P lowered its long-term rating on Cyprus, Italy, Portugal and Spain by two notches
S&P lowered its long-term rating on Austria, France, Malta, Slovakia and Slovenia by one notch
Italy has the same BBB+ level as Kazakhstan and Portugal was pushed into junk status
Portugal slipped into default territory after S&P downgraded the country to junk status
Belgium, Estonia, Finland, Germany, Ireland, Luxembourg and the Netherlands were unchanged
Austria, Belgium, Cyprus, Estonia, Finland, France, Ireland, Italy, Luxembourg, Malta, Portugal, the Netherlands, Slovenia, and Spain were all placed on “negative” outlook for further downgrade
Greece and Portugal are rated junk by the main credit rating agencies (S&P, Moody’s, and Fitch)
EU nations agreed to come up with a treaty requiring national laws to limit deficits
Fitch downgraded the credit ratings of five European nations, including Italy and Spain (2012)
Fitch downgraded Belgium (AA+ to AA), Cyprus (BBB to BBB-), and Slovenia (AA- to A)
>>224388122 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:07:24 No.224388122
>>224388070
Fitch Ratings also downgraded economic heavyweights Spain (AA- to A) and Italy (A+ to A-)
Credit ratings agency Egan-Jones downgraded our credit rating from AAA to AA+ (July 2011)
Egan-Jones further downgraded the U.S. credit rating from AA+ to AA (April 2012)
Debt per household has increased by more than $12,984 since the bipartisan 2011 spending deal
S&P kept the U.S. rating unchanged at AA+, but also kept the ‘negative’ outlook (June 8, 2012)
France began selling their bonds at negative interest rate for the first time ever (July 2012)
Moody’s warned that the U.S. credit rating could be cut due to our high debt/GDP ratio (2012)
Ben Bernanke and the Federal Reserve announced ‘QE Infinity,’ the purchasing $40 billion worth of mortgage-backed securities every month from the banks “to improve lending” (September 2012)
Quantitative easing from the Federal Reserve will hurt the U.S. economy and our credit quality
Egan-Jones downgraded the U.S. credit rating again from AA to AA- (September 2012)
Egan-Jones warned that issuing more currency and depressing interest rates through purchasing mortgage-backed securities does little to raise the U.S.’s GDP, but reduces the value of the dollar
Egan-Jones blamed Ben Bernanke’s implementation of ‘QE Infinity’ for the U.S. downgrade
Obama privately touted the sequester after denying responsibility in the third debate (October 2012)
Obama had falsely told Americans that the sequester was not his idea, rather an idea from Congress
German bank recalled some of their gold held by the Federal Reserve and France (January 2013)
France’s Labor Minister Michel Sapin embarrassed Socialist Party President Francois Hollande by claiming that the country is “totally bankrupt” (January 2013)
Obama’s Justice Department sued S&P over its mortgage bond ratings (February 2013)
>>224388337 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:09:41 No.224388337
>>224388122
President Obama claimed he was “committed to restoring fiscal responsibility” (2009)

In 2006, Senator Obama voted against raising the federal debt ceiling and blamed past leadership
Every Democrat Senator at the time voted against raising the debt ceiling (March 16, 2006)
Obama in 2006: “Increasing America’s debt weakens us domestically and internationally”
Obama criticized George W. Bush by arguing that we are “shifting the burden of bad choices today onto the backs of our children and grandchildren”
As Senator in 2007, Obama did not bother to vote as Democrats raised the ceiling by $850 billion
As Senator in 2008, Obama again refused to vote as Democrats raised the ceiling by $800 billion
In 2008, Senator Obama voted for TARP which raised the debt ceiling by another $700 billion
Obama and the Democrats raised the federal debt ceiling to $12.4 trillion on December 24, 2009
Democrats again voted to further raise the debt ceiling to $14.294 trillion on January 28, 2010
Democrats had multiplied the 2006 Republican-led deficit by a factor of eight in just three years
“They have driven up the national debt to 8 trillion dollars. Ladies and gentlemen, who are these guys? Where do they come from? What do they… what possible right do they have to say to anybody, particularly to us, that they know how to manage our money and manage the economy?” ~Joe Biden in Maumee, Ohio (September 2008)

Obama proposed “a net spending cut” throughout the 2008 campaign which did not materialize
“There is no doubt that we’ve been living beyond our means and we’re going to have to make some adjustments. Now, what I’ve done throughout this campaign is to propose a net spending cut.” ~Obama speaking during the third presidential debate (October 15, 2008)
>>224388407 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:10:36 No.224388407
>>224388337
Obama pledged he would cut the deficit in half by the end of his first term as president
“Today I’m pledging to cut the deficit we inherited in half by the end of my first term in office.” ~President Obama speaking at the opening of Fiscal Responsibility Summit (February 23, 2009)

Obama and Congress tripled the budget deficit from $455 billion in 2008 to $1.416 trillion in 2009
Federal debt rose by $2.4 trillion in the first 500 days of Obama’s presidency and is accelerating
Federal debt increased by over $3.7 trillion during the first 821 days of Obama’s presidency
President Obama set a new record by adding $4.247 trillion in debt in just 945 days
National debt under President Obama is increasing by $3 million with each passing minute
Obama said that Bush was “irresponsible” and “unpatriotic” because he ran up the debt (2008)
“The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back – $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.”
~Candidate Barack Obama on July 3, 2008

President Obama piled up more debt in three years than George W. Bush did in eight years
Obama’s federal debt is increasing $4.1 billion per day, compared to $1.6 billion per day under Bush
>>224388439 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:11:02 No.224388439
>>224388407
U.S. is adding on average over $139.5 billion to the debt every month during Obama’s presidency
President Barack Obama holds the record for the four largest deficits in U.S. history (2009-2012)
Democrats and President Obama posted a $1.416 trillion deficit for the 2009 fiscal year
They quadrupled the record yearly deficit left by the previous Democrat-led Congress in one year
Democrats and President Obama then posted a $1.294 trillion deficit for the 2010 fiscal year
President Obama and his administration ran a $1.300 trillion deficit for the 2011 fiscal year
Obama ran a $1.089 trillion deficit for the 2012 fiscal year, the fourth straight year over $1 trillion
Annual deficit spending under President Obama will average a record 8.4% of GDP, nearly doubling the average annual deficit under any other post-War president
Socialist entitlement agenda leading to trillion dollar deficits projected for the next decade
In 2010, Congress passed the Balanced Budget and Emergency Deficit Control (PAYGO)
Democrats in Congress enacted PAYGO, but then opted-out of the law to pass new spending
Federal debt is increasing at a rate of $1,148 per month per household (as of April 2011)
CBO predicting a total projected debt of $20.2 trillion ($170,000 per household) by 2020
The streak is three times the previous streak (Treasury Department began keeping records in 1980)
>>224388471 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:11:27 No.224388471
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>>224388439
Total public debt when Obama took office was $6.3 trillion ($56,000 per household)
United States public debt topped $10 trillion for the first time ever in August 2011
Obama has added more than $5.4 trillion to the federal debt since January 20, 2009
The gross debt of our federal government surpassed $16 trillion (September 2012)
In four years under President Obama, the debt increased by more than in the previous 17 years
Under President Obama’s proposed budget, the debt will surge to $25.4 trillion by 2022
Obama’s proposed budget will add another $66,000 in debt for every American household
Americans have more government debt per person than Portugal, Italy, Spain, or Greece (2012)
U.S. debt is now $136,249 per household, up 50% under President Obama (September 2012)
More than $6.1 trillion of the public debt is owned by foreign interests and the Federal Reserve
Federal Reserve’s holdings of U.S. government debt hit a record $1.696691 trillion (January 2013)
Federal Reserve’s holdings increased $1.221369 trillion during President Obama’s first term
Federal Reserve’s holdings of government debt is up more than 257% under Obama (January 2013)
When Obama was inaugurated in 2009, the Fed owned $475.322 billion in U.S. government debt
The publicly held portion of the debt increased by more than $5.264 trillion under Obama
>>224388584 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:12:55 No.224388584
>>224388471
Obama and Democrats passed an $821 billion “stimulus” to prop up their special interests
Vice President Joe Biden told Americans that we needed to “spend our way out of debt”
Mike Honda (D-CA) on crafting the 2009 stimulus, “We didn’t know what the hell was going on”
“The stimulus bill, which was under the other administration, was put together because we didn’t know what the hell was going on and you know, and we were trying to do things that we thought might help stimulate the economy. We set aside quite a bit of money for what we call ‘shovel ready projects’ which we thought would create jobs right away but it didn’t.”
~Congressman Mike Honda (D-CA) looking back in hindsight from December 2011

CBO numbers show Obama’s “stimulus” program cost 15% more than the Iraq War under Bush
Obama’s own government officials repeatedly warn of looming debt crisis on the horizon
CBO “can’t conceive of any way” that the economy can continue past 2037 with current trajectory
Note: Estimates for the actual cost of the “stimulus” started at $787 billion, rose to $862 billion, fell back to $814 billion, then rose up again to a cost of $821 billion...

Obama promised, “we are going to ban all earmarks,” before signing thousands of them into law
“We are going to ban all earmarks.”
~Obama speaking at a press conference on January 6, 2009
>>224388612 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:13:14 No.224388612
>>224388584
Obama pledged that recovery.org would allow all Americans to see where taxpayer money is going
“We will launch a sweeping effort to root out waste, inefficiency, and unnecessary spending in our government, and every American will be able to see how and where we spend taxpayer dollars by going to a new website called recovery.gov.” ~President Obama in a speech on January 28, 2009

Obama signed a $410 billion omnibus 2009 budget with more than 9,000 wasteful ‘earmarks’
GAO study: over $24 billion in taxpayer money went to companies that did not pay their taxes
At least 3,700 companies receiving “stimulus” money were tax cheats owing over $757 million
GAO investigators found that one out of every six contract/grant dollars went to a known tax cheat
IRS: Federal workers and military personnel owed $3.42 billion in delinquent taxes in 2010
2010 Census cost taxpayers around $13 billion, more than double the cost of 2000’s count
HHS announced a $500 million initiative to help kids who “can’t sit still” in kindergarten (2011)
Obama signed off on $42 million in bonuses for the top 12 Fannie and Freddie executives in 2010
>>224388646 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:13:39 No.224388646
>>224388612
Top 10 Fannie Mae and Freddie Mac executives received another $12.79 million in 2011
Securities and Exchange Commission (SEC) documents showed that Freddie Mac’s CEO Ed Halderman received a base salary of $900,000 plus another $2.3 million in bonus pay for 2010
Fannie Mae CEO Michael Williams received $2.37 million in performance bonuses in 2010
Fannie Mae and Freddie Mac have received over $170 billion in federal taxpayer bailouts
Inspector General for the Federal Housing Finance Agency found that nearly 2,000 senior managers at government-controlled Fannie Mae and Freddie Mac exceeded $200,000 in median pay (2011)
Obama wanted another $50 billion (before 2010 elections) for more road and railway upgrades
Obama voted ‘yes’ on TARP bank bailouts and then used them as a slush-fund as president
Billions of dollars of TARP funds wound up in big banks in France, Germany, and other nations
2010 Defense Spending Bill was $636 billion with over 1,800 wasteful pork spending projects
Spending budget for 2010 was a record $3.6 trillion and 2011 budget was projected at $3.8 trillion
Obama proposed another “stimulus” costing $140 billion to prevent a double-dip recession
National Science Foundation (NSF) mismanaged more than $3 billion & funds ridiculous projects
NSF spent millions on porn, studying shrimp on treadmills and Jell-O wrestling in Antarctica
Taxpayer “stimulus” dollars went to fund gator wrestling by teenage kids in an Indian village
Nearly $1.5 million in “stimulus” grants were distributed to the University of San Francisco to study erectile dysfunction of overweight middle aged men and asking people about their sexual behavior
>>224388713 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:14:21 No.224388713
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>>224388646
Nearly $19 billion in unemployment benefits were errantly given out from 2008-2010
Vice President Joe Biden was tasked with leading the Campaign to Cut Waste (2011)
“Unemployment checks are going to people in prison. Unemployment checks are going to graveyards.” ~Vice President Joe Biden (September 2011)

Another estimated $14 billion in unemployment benefits were errantly distributed in 2011
State Department spent more than $70,000 taxpayer dollars on books authored by Obama
Feds opened more than 1,900 investigations into waste and fraud of taxpayer stimulus dollars
The 7-Eleven Presidency: Under Obama, for every $7 we’ve had, we’ve spent nearly $11
Democrats proposed a $1.1 trillion spending bill during the lame-duck session of Congress
Spending bill was filled with 6,488 earmarks at a cost of $575 million per page (1,924 pages)
Obama’s $858 billion compromise bill extended the Bush-era tax rates plus more deficit spending
Obama presented a budget for 2012 that allocated a total of $3.73 trillion into federal programs
Obama’s 2012 budget was proposed in February 2011 with at least (19) senators showing support
Obama’s 2012 budget proposal was voted down unanimously (0-97) in the Senate (May 25, 2011)
Obama’s budget prediction for spending in 2011 represented a 40% increase over fiscal year 2007
Obama predicted that spending in fiscal year 2011 will total $3.819 billion, an all-time high record
U.S. ended December 2011 with a record $15.22 trillion in debt and a 100.3% debt-to-GDP ratio
Obama: “We must confront the fact that our gov’t spends more than it takes in... not sustainable”
>>224388741 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:14:45 No.224388741
>>224388713
Treasury secretary Timothy Geithner called the obligations in Obama’s budget “unsustainable”
AMTRAK station named after stimulus “sheriff” Joe Biden was $5.7 million over budget in 2011
AMTRAK lost $84.5 million in food and beverage services in 2011, and $833.8 million over 10 years
Federal lawmakers gave large taxpayer-funded bonuses to their staff during the budget crisis
United States Postal Service (USPS) posted an $8.5 billion loss to taxpayers in 2010
USPS warned it could default after losing $3.1 billion from April to June 2011
USPS posted an additional $5.1 billion loss to taxpayers for the 2011 fiscal year
United States Postal Service lost another $3.2 billion for just the first three months of 2012
Labor costs represent 80% of the USPS’ expenses (compared to UPS’ 53% and FedEx’s 32%)
USPS enjoys extremely generous benefits with “no layoff” clauses in their union contracts
USPS overpaid an estimated $60 billion into its employee pension plans
Despite mandates to avoid deficits, the post office loses billions of dollars every year (2012)
USPS reported a $5.2 billion third quarter loss and said it was nearly out of cash (August 2012)
USPS defaulted on a $5.5 billion obligation to pre-fund retiree health benefits (August 2012)
It was the first time the USPS has ever defaulted on a payment to the Treasury Department
USPS defaulted again on a $5.6 billion obligation one month later (September 2012)
Election junk mail barely spared the United States Postal Service from insolvency (October 2012)
U.S. Postal Service hit its $15 billion borrowing limit for the first time in its history (October 2012)
“[S]eniors love to get junk mail. It’s sometimes their only way of communicating or feeling like they’re part of the real world.”
~Senator Harry Reid (D-NV) arguing against cuts to the USPS
>>224388827 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:15:42 No.224388827
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>>224388741
Postal Service Board of Governors met following a staggering $15.9 billion loss in fiscal year 2012
Despite losing $15.9 billion in fiscal 2012, the USPS increased executive compensation (2012)
Postal Service is mandated to pre-fund retiree health care benefits, which according to postal officials accounted for about 70 percent of the Postal Service’s net loss for fiscal year 2012
The cash-strapped U.S. Postal Service has eliminated more than 168,000 jobs since 2006
African-Americans represent 13.1% of the U.S. population and 11.6% of the labor force (2013)
Nearly one-in-five black workers hold government jobs (i.e. mail clerks, firefighters, teachers, etc.)
Blacks make up about 20% of the U.S. Postal Service workers and are even the majority in larger cities
U.S. Postal Service is the largest employer of veterans in the nation behind the Department of Defense
Loss of more Postal Service jobs would be devastating to both the black community and our veterans
USPS, a booster of minority prospects since the Civil War, is unraveling under the first black president
Postal Service is losing $25 million a day and without action could run out of money by October 2013
Federal Reserve has expanded its balance sheet past $2.5 trillion through “quantitative easing”
Federal Reserve is robbing current and future Americans with each “quantitative easing” (QE)
Big companies and banks were given free money and the stock market increased with each QE
>>224388949 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:17:16 No.224388949
>>224388827
Federal Reserve gave banks $80 billion of taxpayer money in secretive loans at 0.01% interest rate
Federal Reserve Governor and Bernanke advisor Kevin Warsh resigned after questioning QE2
Ben Bernanke argued that Federal Reserve pumping is ‘good for the global economy’ (2012)
Greenspan: Federal Reserve’s quantitative easing did little to loosen credit & boost the economy
$2 trillion stimulus program had little impact on the U.S. economy besides weakening the dollar
Gold prices have skyrocketed as the dollar continues to be devalued by Federal Reserve policies
The U.S. dollar has lost 21.4 percent of its value during the last 8 years (as of April 2011)
U.S. dollar slumped to a new record low against the yen in October 2011 due to Fed policies
Federal Reserve modified their quantitative easing with the addition of ‘Operation Twist’ (2011)
‘Operation Twist’ converts short maturities to longer maturities to drive long-term rates lower
Federal Reserve already converted $400 billion, but seeks to convert another $267 billion (2012)
Progressive-led government posted biggest monthly deficit ever of $223 billion in February 2011
U.S. government spent more than eight times its monthly revenue for the month of March 2011
CBO numbers show that the federal government ran a $189 billion deficit in March 2011
Forty-five states and D.C. projected budget shortfalls totaling $125 billion for fiscal year 2012
Local governments facing aggregate revenue shortfalls from 2010-2012 totaling $56-$83 billion
>>224389001 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:17:53 No.224389001
>>224388949
Minority Leader Steny Hoyer (D-MD) said the federal budget may not be balanced for 20 years
Minority Leader Steny Hoyer (D-MD) said “we’ve dug such a deep hole...” over the years
Harry Reid (D) worried that cuts would eliminate the annual “cowboy poetry festival” in Nevada
Pelosi warned that House Democrats won’t support Obama on proposed debt-limit entitlement cuts
Freshman Sen. Joe Manchin (D-WV) declared that Obama has “failed to lead” on budget cuts
Senator Manchin warned, “we cannot ignore the fiscal Titanic of our national debt and deficit”
Radical group founded by Obama called for another $382 billion in ‘stimulus’ spending in 2011
Democrats were only willing to cut $20 billion for fiscal year 2011 from a $3.6 trillion budget
Obama ignored all recommendations from the deficit commission he created to study the problem
Democrats demagogued the 2012 GOP budget proposal cutting more than $5.8 trillion in spending
Democrats have resorted to using lies and propaganda to defend their anti-spending cut position
Sen. Chuck Schumer (D-NY) caught telling senators to describe GOP spending cuts as “extreme”
Schumer said, “I always use the word ‘extreme.’ That is what the caucus instructed me to do”
Democrats described those seeking spending cuts as “extreme” and a “small minority”
Senate Rules Committee blocked a Tea Party Debt Commission from presenting a budget proposal
Sen. Chuck Schumer (D-NY) even evicted the debt commission from the Russell Building (2011)
Sen. Harry Reid (D) suggested we return to the “type of fiscal discipline” under the Democrats
Harry Reid predicted the Tea Party “will pass… will lose a number of seats next year” in 2012
>>224389066 #
...Anonymous (ID: oqL6gJbO)
08/25/19(Sun)20:18:29 No.224389066
>>224389001
Obama administration suggested that GOP 2011 budget cuts would kill 70,000 kids worldwide
Democrats killed millions by banning DDT in African countries as a condition for U.S. aid
The Left protected funding for Planned Parenthood, which aborts 332,278 boys and girls each year
Socialist Bernie Sanders said the rich “have not contributed one nickel to deficit reduction” (2011)
Democrats raised campaign money off the threat of a government shutdown in April 2011
W.H. said their proposed cut of $6.5 billion met the GOP’s $60 billion cut ‘more than halfway’
W.H. and OMB called a 1-week budget extension and U.S. troop pay through 2011 ‘a distraction’
Jim Moran (D-VA) described a troop funding question as “caustic” yelling, “sit down or leave!”
House Speaker John Boehner (R-OH) said Obama ‘needs to lead, instead of sitting on sidelines’
Eric Cantor: “We’ve had to bring this president kicking & screaming to the table to cut spending”
Despite playing cheerleader, Obama took credit for the “biggest annual spending cut in history”
As Washington celebrated, the U.S. budget deficit grew 15.7 percent in the first half of 2011
Treasury reported a deficit of $829 billion for the October-March period of fiscal year 2011
U.S. debt jumped $54 billion in the week preceding a deal to cut $38 billion from the 2011 budget
There was no signing ceremony when Obama signed the $38 billion cuts into law
Due to Democrat budgetary gimmicks, the actual cuts in spending amounted to just $353 million
Budget deal: 2011 fiscal year budget deal left federal spending $773 billion above 2008 levels
CBO: Spending bill produces less than 1% of claimed savings by end of the 2011 fiscal year
Maxine Waters (D-CA) called for another $1 trillion or more in federal “stimulus” (2011)
Senate Democrats voted in favor of raising the debt ceiling by $500 billion in September 2011
Bill Clinton described President Obama’s approach to the deficit as “a little confusing”

Economic Development Administration (EDA) was created to “increase society’s wealth”
EDA was set up as part of the Great Society agenda under President Lyndon Johnson (D)
EDA adds to the deficit, picks winners and losers, and purports to create jobs in the economy
Taxpayers are on the hook for a monument being built to honor Sen. Harry Reid (D-NV) (2011)
Freshman Rep. Mike Pompeo (R-KA) introduced the EDA Elimination Act of 2011 in the House
Sen. Jim DeMint (R-SC) also proposed legislation in the Senate that would eliminate the EDA
Obama looked for ways to spend more money “without additional Congressional authorization”
President Obama’s 2013 budget proposal increases the national debt by another $2 trillion
Obama’s deficit spending equates to $17,000 per person, or about $70,000 for a family of four
Obama’s Budget Director Jeffrey Zients claimed that Obama’s budget was a “balanced budget”
U.S. per capita government debt is worse than Greece, Ireland, Italy, France, Portugal, and Spain
Federal government ran the worst monthly deficit ($229 billion) in history in February 2012
U.S. borrowed 42 cents of every dollar it spent during the first five months of 2012 fiscal year
U.S. recorded its record 42nd straight month of running deficits (ending March 2012)
The previous longest streak of our government running deficits was just 11 months
Obama’s 2012 budget proposal was voted down 414-0 in the U.S. House of Representatives
Obama’s 2013 budget proposal was voted down unanimously (0-99) in the Senate (May 16, 2012)

/thread

I'd keep going but this wi