Tuesday afternoon, the US national debt ticked over the $16 trillion mark, a number which comes on the same day as the Democrats open their 2012 national convention. Republicans had unveiled a debt clock at the RNC last week with the possibility the $16 trillion figure could be hit around the time of Romney’s acceptance speech. Obviously their plans didn’t pan out since the number was not hit until today.

Report from Politico:

Bad timing for Democrats: The gross national debt is set to hit $16 trillion Tuesday as the party’s convention gets under way, and Republicans are pouncing.

“This is a grim landmark for the United States,” Alabama Sen. Jeff Sessions, the top Republican on the Senate Budget Committee, said in a statement. “That’s more government debt per person than Portugal, Italy, Spain or Greece. Yet the president seems strangely unconcerned.”

In an interview on Fox News Sunday, Obama senior campaign adviser David Axelrod said the president’s economic plan would lower deficits by $4 trillion over a decade. But moving too aggressively, he added, could backfire.

“What’s necessary is to stabilize the debt and then work from there,” he said. “You can’t balance the budget in the short term, because to do that would be to ratchet down the economy.”

Obviously not all of that $16 trillion came from President Obama or Democrats in general, both parties have done their fair share of debt spending driving up the ticker. However, the number serves as a reminder of the overarching issue in 2012 which is the economy and sustained government growth.

Michelle Obama will be the headline speaker this evening at the DNC. You can catch it all beginning at 10pm eastern time on the broadcast networks and cable news or watch live online C-SPAN.

44 COMMENTS

  1. The GOP is SO lucky that the debt didn’t hit $16T during their convention. If it had, the crowd would have cheered (thinking it gave them an issue)–and the watching public would have thought it was THEIR debt they were cheering.

    Just like the GOP morons cheered when Clint mentioned 23 million out-of-work. To the viewing public, unemployment sounded like a GOP achievement.

    • I agree with you, Goethe.

      What the Republicant and Democrap Sheeple don’t realize that it is BOTH Parties “criminally” contributed to the National Debt – FOR VOTES!

      Have you seen the Bill Clinton ad yet? In the ad, he brags and touts his own Presidency as the way to economic prosperity. LOL. What the “sheeple” don’t realize is that under his Administration, the Community Reinvestment Act (CRA) was EXPANDED enabling the repeal of Glass-Steagall Act of 1933, which was then replaced by the Gramm-Leach-Bliley Act of 1999, which Bill Clinton signed into Law. Gramm, Leach and Bliley were 3 Republicants! This led to the inflation of the Housing Bubble which destroyed our FREE Market Economy – FOREVER!

      The Moral of the Story is that the Republicants and the Democraps “work for” the same Puppet Master. THE BANKSTERS!

      The “sheeple” need to get educated. Let’s start with “How Much is a Trillion Dollars”. Perhaps this video will begin to shed some light on the National Debt to the “sheeple” out there.

      http://www.peakprosperity.com/video/228/playlist/153/chapter-11-how-much-trillion

      PASS IT ON! Voting for a Republicant or a Democrap is just a vote for the Political “Crime” Family made up by the “Gang of 535” in Washington, DC. They’re BOTH the SAME and they DON’T work for us!

  2. Goethe …

    Didn’t I see you with Debbie ‘Blabermouth’ Schultz – I think you were walking behind her, as a matter of fact, with a collar around your neck and the chain leash held tightly in her grip!

    thecolonel

  3. It’s ok Goethe. Try not to give in to your desires. I’m still an equal opportunity apologist for what I believe to be good, true and right. 🙂

  4. NATE:

    Since we’ve had a blackout on the real event of the night–on the Tonight Show–can we have a separate string tomorrow for the Ron Paul appearance, so we won’t just hijack the DMC Convention discussion??

    [And yes, that was intentional.]

  5. Billy

    I know what you mean. There are so many who believe Clinton was a great president. He really was a terrible one. He was just another inept weak puppet. He allowed the Banksters to WRITE the laws that caused the housing bubble which DESTROYED our economy FOREVER! It can NEVER recover. It’s a mathematical IMPOSSIBILITY. But the sheeple are just too DAMN lazy to want to understand it. They’ve taken the Blue Pill and are slaves STUCK in the Matrix.

    • DT:

      I don’t think Billy has ever said Bubba was a great president. Just a successful one.

      He has said, as you did, that Clinton allowed the banksters to build the house of cards that destroyed OUR house values–allowing them to “Do a Robme,” in which they pumped value into our homes so that the bloodsuckers could siphon it off.

      Billy just admires success, even when he deplores the results of that success. So he doesn’t even criticize Robme for being a bloodsucker. He just bemoans a system that allows it to happen.

      • Right again, If a man can place himself in such a position to have said benefits bestowed upon him that is success. Mission accomplished. Hey we all have a lot of opportunities that we let slip by. So what is the matter with a low risk investment with potential for a big return? And it’s all legal. Poor Ma and Pa who lost their jobs. Well they voted the shysters in that made this all possible.

    • Gee a blind man could see it, all those people refinancing & refinancing them vacations and BMW’s in the driveways. Reminded me of the golden calf gig & Moses just a few years back.

  6. Oblamo spends spends spends more than any President ever with nothing to show for it. Careless. Am I better off, no. I will be voting for the ROMNEY RYAN ticket this time. No one can be as bad as Obama. He makes jimmy carter look like a miser.

    • Dr. K:

      Trouble is, Robme’s whole LIFE has been about digging a hole of BANK DEBT.

      Most people go into debt and get into trouble.

      Robme’s method has been to go into debt and then get OTHER people into trouble.

      Nearly all of Robme’s money has come from racking up debt and then saddling it onto the very companies he was “helping.” (Then charging huge fees to do so.) Early on, Bain did actually PARTNER with companies that had a future–who just needed a little money now, so they could pay him back a lot later. But Robme quickly learned that he could make obscene and easier and riskless profits by gobble up companies using 95% bank debt, saddle that same company WITH that debt, and charge a huge fee on top of it:

      Like a shark or piranha in attack, but then quickly becoming a lamprey, slowly, slowly sucking the life out of his prey. The difference is that, unlike the lamprey, he is also able to sell the carcass (or pieces-parts).

      As president, I would expect him to start a new war somewhere, as soon as possible. He has been itching to invade Iran. And of course, in his ignorance of foreign affairs, he has repeatedly said that Russia is our main enemy in the world. His goal is to make enemies.

      Clearly, the Robme “solution” to our problems will be to load us up with NEW debt, as he always has, to benefit the privileged few–the banksters and the military-industrial complex.

      Electing Robme, to extend the metaphor, would put us poor fish out of the frying pan and into the fire.

    • How did you know Carter was a big spender? He doesn’t get #1 but he is near the top. Most people though he was kind of cheap but he wasn’t. No bang for the buck either.

  7. I thought Michelles speech was disingenuous. Pretty phoney. With the National Debt the way it is, why would I vote for the President again. I would have to be a blooming fool. I cannot express my discuss in all the thugs that are in the White house now and around our country. Bring back the real America. I don’t want a Socialist country that is as weak as China. HELP, VOTE FOR ROMNEY AND RYAN!

    • Dr. Kelly

      As if Romney and Ryan are going to curtail all the Debt Ceiling Debacles and continual Budget Deficits. LOL. They’ll continue to grow, as usual – so long as people like you are “duped” into believing there’s actually a “difference” between Republicans and Democrats. The Kool-Aid for the Republicans and Democrats contains the same ingredients. Broken Promises, Lies, Deficit Spending, Wars and Usurping of the United States Constitution. Chug-a-Lug…

      • Right on, these elections are investments that rich people make to become even richer than than they are now. A chance to get your hands on the printing press and extract as much wealth from the dumb voters as you have ink and paper. The Fed made all this possible and both sides support the Fed. Gee even dumb Thomas A and his buddy Henry knew that way back when Noah was still building his boat.

    • Dr. K:

      Actually, I watch these speeches from a strategic angle. Both wives did extremely well.

      Ann’s job was to convince us that someone who seems totally unlovable actually CAN be loved. WE believed that she does, so the question is just. . .how? Very poised. Very competent. Attractive. First Lady-like.

      I couldn’t think of how Michelle could top that, but she did an impressive Ju Jitsu. We already knew that they are very close. We already knew that Michelle is sophisticated and stylish. So she turned it into an opportunity to remind us that both of them started out dirt poor. So the gist of her story was, “my husband is not a bloodsucker.”

      The Democrats have a decided advantage by going second. And I think that’s why they didn’t give out a schedule in advance. They didn’t know. They wanted be able to react to the GOP show.

      The GOP made Bill Clinton a star, so they moved him to “own” Wednesday night. There’s a risk that he will overshadow Obama, but at this point, they don’t care. If they can convince voters that they’re getting Bill Clinton, all the better. Remember that two-thirds of independents admire him. Even 50 percent of REPUBLICANS give him a positive rating.

      Strategically, the Democrats are blowing away the Republicans. Except for Clint, the GOP show looked contrived, staid, and boring. But people are not sure what the Democrats will pull out next–because I don’t think the Democrats KNOW what they’re going to pull out next.

      • The flip side of “a tough act to follow” for sure. The GOP showed America how they could take small business that prospered and shut it down with the brown shirts. Machine guns on the streets and snipers on the rooftops, barricades set up in such a way to channel any ethnic group they want into the awaiting boxcars.

        I can understand how they can do it today (as demonstrated by the GOP) but how did France do it during WWII? They and they alone rounded up 40,000 Jews and shipped them to Auschwitz COD via boxcars?

  8. RON PAUL ON LENO LAST NIGHT:

    I had to work to find the streaming online, since I don’t have TV. One site was streaming their local TV channel.

    Anyway, the purpose of this appearance was just to show that he’s not the “unperson” that the GOP tried to make of him. He’s not endorsing Willard, and won’t even say he’ll vote for him.

    When asked if he’ll run third-party, he said “no,” but it was in a way that sounded like “I’m not planning on it tonight.”

    This is from Politico:

    Rep. Ron Paul (R-Texas) confirmed Tuesday that he wouldn’t be looking at a third-party independent run, joking with late-night host Jay Leno that he needs to “take a rest and prepare for 2016.”

    “The system is very biased. We talk a lot about democracy. We send our troops overseas. We want to spread democracy. But democracy isn’t all that healthy in this country, because, if you’re in a third party, you don’t get into the debates,” said Paul on “The Tonight Show.” “The truth is that if I would have tried to do what I have done over the last several years to do exactly what I have done in a third party, I probably wouldn’t have made it to your show.”

    “If you ever come [to] the conclusion, heaven forbid, that the two parties aren’t that different, then what is left?” asked Paul, explaining why he remains a Republican.

    Paul declined to endorse Romney, saying he had “no clue” who he would vote for on Election Day, instead vowing to “keep plugging along.”

    Asked by Leno whether he would have received a speaking role at the convention if he had endorsed Romney, Paul replied affirmatively.

    “I imagine I would have,” said the Texas congressman, who noted, however, that while the endorsement was a presumed prerequisite, it wasn’t asked for “in writing.”

    “Kind of like NBC. Yeah, OK, I get it,” quipped Leno.

    Paul also drew laughs when he was asked about Romney’s convention speech.

    “It was nice,” said Paul simply. “It was very pleasant. But it wouldn’t have been the speech that I would have given. I would have talked about foreign policy and some other things.”

    Paul even had nice things to say about actor Clint Eastwood’s bizarre address at the convention.

    “I probably wouldn’t have given that one either,” joked Paul, who, at 77, is about five years younger than Eastwood.

    “No, I thought it was pretty good. One part that I liked about it was that he was critical of the president. … and he says, why don’t you just bring those troops home tomorrow?” Paul continued.

    • Yeah big difference, RP talks only hours are need to turn thing around and the other two talk years with no real plan in sight. Does anyone think that bring 350,000 young red blooded Americans with good pay checks to spend here in America would not create over 1 million jobs as they spend their money here and not in some foreign country?

  9. Dear Bill, I am a retired Defense Contractor from Dover, DE(while in business), I currently reside in Lewes, DE PLEASE get this comment to the Republican National Commitee. All we/they
    have to do is show Mr Obamas “promises before the previous election” particularly the one that goes something like this quote ” If I do not lower the deficit by half, I will not for re-election ” there were some other promises such as ” I will not run my Administration the same
    good old boys way, “my Administration will be transparent” Needless to say Mr Romney will win
    if he justs runs the Presidents rabid lies on TV for all the world to see !

    • There was something in the paper a few days ago down here in Tampa about 10 promises he broke and 10 he kept. Is the glass half full or half empty.

    • I heard that Obama had more than 500 things that he said he wanted to do. Not sure how many were “promises.”

      • More recent evidence supports this view, too. Politifact.com has tracked more than 500 promises Barack Obama made during the 2008 presidential campaign. It found he has kept 161, passed a compromised version of another 50, and has either been rebuffed by Congress or is making progress toward another 239. In only 56 cases — about 10 percent — has Obama actually broken a promise, and in the biggest of those cases — ending the Bush tax cuts for families making more than $250,000 — there’s a good chance the promise will be kept when the tax cuts expire at the end of this year.

    • Edward J Troise Jr

      LOL.

      Hold that thought. For whoever wins this election, and when “Collapse 2.0” finally hits the fan, you’re going to see a lot – I mean A LOT of Broken Promises and “expansive” Tyranny against Freedom, Liberty and the People in general.

      • They are ready with machine guns, snipers, barricades, boxcars, and FEMA camps. All made possible with the “borrowed” money from China.

  10. I still have a difficult time understanding how people can be so “lulled” into accepting that we’re $16 TRILLION in DEBT – and not see that BOTH the Republicans and Democrats brought us here.

    You’d think these “crooked” Politicians would be run out on a rail and the 2 Party “Monster” would be dissolved and thrown onto the Dung Heap of “failed” Human Governance. We need to jail these criminals and then return to the Principles laid out in our Constitution.

    • The Declaration of Independence states:

      “That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness”

    • Because everybody that still has a job is still running up debt on their credit cards and buying cars on time. So why not the country do the same thing as the people living in it.

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