$20 Trillion Debt when Obama Leaves Office Thanks to Republicans in Congress

With the help of the Republicans in Congress, when President Obama signs the budget deal today he will have nearly doubled the national debt since he took office. By the end of President Obama’s term in office, the national debt is expected to hit $20 trillion.

Obama

In July of 2008, Candidate Barack Obama said at a campaign event:

”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 dollars for the first 42 presidents — number 43 added $4 trillion dollars by his lonesome, so that we now have over $9 trillion dollars of debt that we are going to have to pay back — $30,000 for every man, woman and child.”

Unfortunately, the man who rightly spoke out against the insane amount of debt racked up by President Bush has now far exceeded not only Bush’s grotesque crime against the American people, but the combined national debt of all other president’s before him.

When Obama took office in 2009, the national debt stood at $10.6 Trillion. Since then it has ballooned to $18.5 Trillion, and thanks to the sellout Republicans in congress who passed his reckless budget deal, he will be allowed to add another $1.5 trillion to that total before he leaves office.

The straw that breaks the camel’s back?

We are broke; DEAD BROKE. With nearly $20 trillion in admitted national debt, and another $220 trillion in unfunded liabilities, there is no denying how bad things really are. The only reason we aren’t seeing the breadlines of the 1920s is because the government has subsidized the biggest Ponzi scheme in American history.

Almost half of Americans now live in a household that receives government assistance. While some of those are people who receive social security benefits, the fact is we don’t have the money to sustain any of these programs. In fact, by the end of 2016 the Social Security disability fund is expected to run out of money. When that happens, some 11 Million Americans could be the first to find out what it’s like to live without their monthly government check.

The coming Collapse: A look at the numbers…

  • In 2015, the U.S. Government took in a record $3,248,723,000,000 in tax dollars. Despite stealing more money than ever from the American people, this corrupt bureaucracy still managed to run a $438.9 billion deficit for the year.
  • When President Obama took office in 2009, 28.2 million Americans received federal food stamp assistance. That number is now over 46 million people.
  • According to the latest census numbers, the number of people living in poverty (46.7 million in 2014) is the highest since the census began keeping track in 1959.
  • According to the Labor Department’s Bureau of Labor Statistics, a record 94,610,000 Americans are not in the labor force – the lowest labor force participation since October 1977.
  • 30.3% of Millennials, people age 18 to 34, still live at home with their parents.

The crisis is much worse than anyone in the media or the government is saying; but even if you only look at the numbers that the government is reporting, there is no denying the fact that we are in some serious trouble. I believe one of the biggest preparedness related threats we face is the coming collapse of our economy, it’s the reason I devoted an entire section of my book to preparing for it, and it’s the reason we cover these types of stories on the site.

When it comes to preparing for this threat, one of the most important things you can do is have a plan of action. Check out my article on how to prepare for the coming collapse, and start making plans for how you will protect yourself and your family from this threat.

7 Comments

  1. charles
    November 2, 2015 at 2:50 pm

    The British Government has been in debt for over 300 years and the country hasn’t descended into chaos.

    • kda
      November 2, 2015 at 5:46 pm

      Really? The UK is a shithole and the entire European Union is on the verge of collapsing. Greece anyone? Italy? Hello???

      Between The Euro collapsing and the Eurozone allowing Islamic radicals to flood in everywhere in a decade Europe will be gone.

  2. Jake
    November 3, 2015 at 6:59 am

    If the United States wasn’t the world’s leading reserve currency, we would have collapsed a long time ago. However, China is about to become the dominant reserve currency any week now and we need to be very concerned. But there are a dozen ways the US can now collapse;an EMP event from the Sun or a nuclear enemy, our debt, the $200 trillion in unpaid derivatives, a major attack by one of our many enemies like Russia, based on becoming weak under Obama, collapse of the corrupt Fed, etc. The only way we avoid a collapse is if God intervenes, but I question whether He is moved to help us after our endorsement of Socialism, Gays and Lesbians , the killing of over 55 million babies and doing nothing while their body parts are sold to the highest bidder, allowing the erosion of religious freedom, voting for a corrupt, anti-American, and immoral government, abandonment of the worlds Christians in the face of genocide. It doesn’t look good.

    • Texan
      November 3, 2015 at 7:31 pm

      Amen, brother, amen!

      • Steve
        November 8, 2015 at 8:08 am

        Good luck with your god, I’ll stick with my 9MM

  3. Moman
    November 3, 2015 at 7:07 am

    One reason why I got a bike to drive instead of a car for summer.. spring.. and most of fall here.

    better MPG, costs the same to insure as my car, and less to title and register.

    anything to reduce the income of these debt zealots.

  4. Steve
    November 6, 2015 at 4:33 am

    Wrong. Thanks to all politicians. You are a huge part of the problem if you only blame one side and I am 100% serious

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