Blogs » A Constitutionalist & Believer in Natural Law » When Will We Halt Government Spending?


The National Debt is out Debt. Not President Bush’s Debt, Not President Obama’s Debt, not the Democratic Party's or the Republican Party's Debt, it is the debt of each and every citizen of the United States.

At the close of business on Jan. 20, 2009, the day Obama was inaugurated, the federal government’s debt was $10,626,877,048,913.08, according to the U.S. Treasury. By the close of business on Monday, April 16 the debt had reached $15,654,638,525,397.64.

The $5,027,761,476,484.56 in additional debt that the U.S. government has taken on during the 39 months that Obama has been president is more debt than the federal government accumulated in the first 219 years of the Republic.

President Obama has now increased our debt more than all Presidents from George Washington through the last year of President Clinton’s Administration first term in office.

The total federal debt did not exceed $5,027,761,476,484.56 until March 14, 1996, when President Bill Clinton was in the last year of his first term in office. On that day, the national debt rose from $5,025,887,531,178.79 to 5,035,165,720,616.33.

GDP is a measure of the total size and output of the economy. In other words the GDP total annual products and services produced in the United States. One measure of the debt burden is its size relative to GDP. Multiple government sources including previous presidents, the GAO, Treasury Department, and CBO have said the U.S. is on an unsustainable fiscal path. The national debt at the beginning of the Obama Administration was close to 70% of our GDP. If the debt is counted using the total public debt outstanding over the annual GDP in chained 2005 dollars, the ratio reached 115% on Feb. 2012.

Our President Obama's budget has been rejected by both houses of Congress, yet he does not want to slow spending money we do not have.

Increasing taxes will not solve our debt crisis. We have spent the entire tax income of our children and grand-children. Our Big Federal Government must shrink if we are to remain a sovereign country. We cannot keep allowing elected government officials to expand our debt. When will we demand a stop to sending that keeps sending us deeper into debt?