Brink of Catastrophe: U.S. Debt Passes $18 Trillion

While the eyes of the nation focus on Ferguson, immigration, and Kim Kardashian’s backside, America has passed what RNC Chairman Reince Priebus called “a sad milestone.” The U.S. is now more than $18 trillion in debt, up a startling 7 1/2 trillion dollars since Barack Obama first took office. But while Republicans are trying to position this as a partisan matter, the truth is that the GOP is just as much to blame for this albatross as the Democrats.

Earlier this year, the Congressional Budget Office predicted that our skyrocketing debt would lead to mandatory interest payments of more than $800 billion a year by 2024. That’s not chump change, even by federal government standards. As Breitbart put it, it’s 105 times the size of the FBI’s annual budget. We could have 105 agencies the size of the FBI for what it will take to simply pay the interest on our debt.

Make no mistake, some of the blame must fall at the feet of the president. But a lot of this is simply the rising costs of a massive federal government. And while Republicans may like to play conservative once in a while and champion small government, they’ve been as bad as the Democrats when it comes to gobsmacking expenditures.

Headed For a Fall?

There has never been a country quite like the United States, but even great empires have been felled by enormous debts and unrestrained spending. The problem of an astronomical U.S. debt isn’t a new one, but it has snowballed quickly. It took us more than 200 years to accumulate the first trillion dollars of debt, but it only took about five years to reach the second trillion. It took us a startling 405 days to go from $17 trillion to $18 trillion. This is a rate of accumulation that must be stopped.

A massive national debt could have a number of dreadful implications for the future of the country. It will almost certainly translate to lower economic growth, rising unemployment, and depressed wages, if it hasn’t already. In addition to that, it poses a threat to our national security. Former Secretary of Defense Robert Gates once said, “At some point, financial insolvency at home will turn into strategic insolvency abroad.”

Entitlement Reform

If we’re ever going to tackle this issue, we need to get serious about entitlement reform. That doesn’t mean cutting funding for meaningless programs that are barely a drop in the bucket, either. It means gearing up, baring down, and making some serious cuts to Social Security, Medicare, Medicaid, and Obamacare. That’s it. That’s the only way, short of gutting our military.

What we cannot do – and this is where Democrats really get it wrong – is tax our way out of this mess. Even a substantial tax raise would barely make a difference in reducing the annual deficit.

Unfortunately, we’re probably going to do the same thing we’ve been doing, which is nothing. No one wants to sacrifice for a future where they won’t even be around. Sorry, Americans of the future. We spent all of this money and time on “climate change,” but we couldn’t bother with the debt. Hope you guys can figure it out.

About Admin

43 comments

  1. FIRE the idiot Obama and his administration. Get a MORAL smart economist and foreign policy experienced person to become President.

  2. You need to check the real Losses of US Terrorist state.

    Even Ron Paul has stated it on Nation al TV.

    Statistically the US Debt and OBligations are $223 Trillion. It cannot be paid off or even down.

    Statisticians report that it would take 34 generations to pay down that debt providing the us government of terrorists did not spend another dollar for the next 34 generations

  3. End the anti-trust law exemptions given to the health care industry so that we can get our medical costs back to free market standards. Pass a bill to stop Congress from “deficit spending,” revoke Gramm-Leach-Bliley and reinstate Glass-Steagall. According to information found at http://www.fedupusa.org we could restore our economy almost overnight with those three adjustments. Watch The Federal Budget Mess, In Video Format http://www.fedupusa.org/2014/11/the-federal-budget-mess-in-video-format/ then contact your congress critter

    • If your over night equates to 34 generations, per certified analysts, maybe! if you stop all wars that cost trillions each year including the Billions stolen by the Traitors who clal themselves Politicans and the illegal from africa of who is Guilty of Treason about 1000X since 2008. For all of this the 300 million idiots in usa endorse the Fascist Thieves and Liars who are guilty of stealing and bancrupting your country, also Found Guilty by The World Court for War Crimes and Treason??????

  4. No one cares what Priebus thinks. He nearly destroyed the Republican Party. Besides his figures are WAY off ….including unfunded liabilities…we OWE more like 172 TRILLION!!!!

  5. As one person said, “Firing Obama would be a good start, but both Repubs & Demos alike have built this mountain… And it will definitely end badly, the federal government will have to create a war someplace or do something yet to be imagined. Let me say this also, if we (the USA) fall it will be a MAJOR CATASTROPHE for many other countries that have relied on us being there. Frankly. I look for this to be the catalyst that propels China to the forefront of world politics.

  6. No you idiot! It means cutting welfare, EBT, and medicaid! Along with that, cutting over 500 government agencies and departments! Oh yes! Social Security, we Americans have paid for this all of our working lives as well as Medicare! Only the government corruption has depleted this agency and funding! Paying individuals large sums of money for life that have NEVER paid into the fund! This really pisses me and several others off! It’s always……….Go after Social Security and Medicare! Always! Why? These are paid into by working Americans! How about the real handouts of the Federal government! Welfare, EBT, Breakfast, lunch, dinner and medical! Let’s talk, FBI, CIA, NSA,HHS, Federal Reserve, IRS, EPA, OSHA! Come on! These are the money drainers of our budget! For once! Except reality! Finally do something to change it!

    • You are 100% correct.

      Bob: “Hey Jim, did you hear about the Obama administration scandal?

      Jim: “You mean releasing 5 dangerous terrorists for a deserter?”

      Bob: “No, the other one.”

      Jim: “You
      mean corruption and terrible conditions at the VA after Obama attacked
      Republicans for it and said he would fix all those problems?”

      Bob: “No, the other one.”

      Jim: “You mean outing the CIA station chief in Afghanistan?”

      Bob: “No, the other one.”

      Jim: “You mean the Mexican gun running?”

      Bob: “No, the other one.”

      Jim: “You mean SEAL Team 6?”

      Bob: “No, the other one.”

      Jim: “Obama saying the average family would save $2,500 on their premiums?”

      Bob: “No, the other one.”

      Jim: “Obama having NSA spy on 124 Billion Phone Calls in One Month?”

      Bob: “No, the other one.”

      Jim: “Obama intentionally ignoring our immigration laws?”

      Bob: “No, the other one.”

      Jim: “Bailing out Detroit after decades of corrupt Democratic management?”

      Bob: “No, the other one.”

      Jim: “You mean the State Dept. lying about Benghazi?”

      Bob: “No, the other one.”

      Jim: “You mean voter fraud?”

      Bob: “No, the other one.”

      Jim: “You mean Obama saying we can keep our insurance and doctors if we wanted to?”

      Bob: “No, the other one.”

      Jim: “You mean the military not getting their votes counted?”

      Bob: “No, the other one.”

      Jim: “The NSA monitoring foreign diplomats?”

      Bob: “No, the other one.”

      Jim: “You mean the use of drones in our own country without the benefit of the law?”

      Bob: “No, the other one.”

      Jim: “Giving 123 Technologies $300 Million and right after it declared bankruptcy and was sold to the Chinese?”

      Bob: “No, the other one.”

      Jim: “You mean the president arming the Muslim Brotherhood?”

      Bob: “No the other one.”;

      Jim: “The IRS targeting conservatives?”

      Bob: “No, the other one.”

      Jim: “The DOJ spying on the press?”

      Bob: “No, the other one.”

      Jim: “Sebelius shaking down health insurance executives?”

      Bob: “No, the other one.”

      Jim: “You mean Obama spending $3.7 Trillion on Welfare Over Last 5 Years”

      Bob: “No, the other one.”

      Jim: “Giving SOLYNDRA $500 MILLION DOLLARS and 3 months later they declared bankruptcy and then the Chinese bought it?”

      Bob: “No, the other one.”

      Jim: “The NSA monitoring our phone calls, emails and everything else?”

      Bob: “No, the other one.”

      Jim: “Millions of Americans losing their health care coverage?”

      Bob: “No, the other one.”

      Jim: “Forcing Americans to include coverage in their insurance policies of items they do not want?”

      Bob: “No, the other one.”

      Jim: “The
      president’s ordering the release of nearly 10,000 illegal immigrants
      from jails and prisons, and falsely blaming the sequester?”

      Bob: “No, the other one.”

      Jim: “The president’s threat to impose gun control by Executive Order in order to bypass Congress?”

      Bob: “No, the other one.”

      Jim: “Providing weapons to Syrian rebels many of whom apparently are Al Qaeda?”

      Bob: “No, the other one.”

      Jim: “The president’s repeated violation of the law requiring him to submit a budget no later than the first Monday in February?”

      Bob: “No, the other one.”

      Jim: “The 2012 vote where 115% of all registered voters in some counties voted 100% for Obama?”

      Bob: “No, the other one.”

      Jim: “The president’s unconstitutional recess appointments in an attempt to circumvent the Senate’s advise-and-consent role?”

      Bob: “No, the other one.”

      Jim: “The State Department interfering with an Inspector General investigation on departmental sexual misconduct?”

      Bob: “No, the other one.”

      Jim: “Clinton, the IRS, Clapper and Holder all lying to Congress?”

      Bob: “No, the other one.”

      Jim: “The President using nearly $1 trillion dollars of stimulus money to fund his cronies?”

      Bob: “No, the other one.”

      Jim: “You mean Fast & Furious?”

      Bob: “No, the other one.”

      Jim: “I give up! … Oh wait, I think I got it! … You
      mean that 65 million low-information voters who don’t pay taxes and get
      free stuff from taxpayers and stuck us again with the most pandering,
      corrupt administration in American history?”

      Bob: “THAT’S THE ONE!”
      Transparency is what obama also promised.

    • Did You Forget the Trillions the US Miltary spends on 8 fronts of Illegal Wars? There is no Audit on the Trillions that all militarey officers and all Liars, Thieves, Frauds, Illegals, Queers, Fascists, Marxists and Terrorists occupying the rooms at the whore house washington

    • do not forget all the tax dollars corporations get every year. also sports teams get large tax breaks every year. we would all be shocked at all the money these rich get every year.

      • Certainly Margo, you get it as do many more American Citizens. The government thinks we are stupid. The list goes on and on. The government departments and agencies, illegally formed of course will stagger the normal thinking person. From A to Z they number over 10,000. When you view this list, it boggles the mind!

  7. Well that happens why you launch two wars and a massive Tax cut to the very rich. The bill comes due.. to bad it was done back between 2000 and 2008

    • Yes yes yes. See my points about this above.

    • Spoken like a true brain washed liberal. Stimulus lies,transparency lies, if the democrats are for the 99%,then why do the rich support the democrats? Turn off msnbc and stop the brain washing lies. Transparency remember… Keep your doctor and plan remember, try some of these—–

      Bob: “Hey Jim, did you hear about the Obama administration scandal?

      Jim: “You mean releasing 5 dangerous terrorists for a deserter?”

      Bob: “No, the other one.”

      Jim: “You
      mean corruption and terrible conditions at the VA after Obama attacked
      Republicans for it and said he would fix all those problems?”

      Bob: “No, the other one.”

      Jim: “You mean outing the CIA station chief in Afghanistan?”

      Bob: “No, the other one.”

      Jim: “You mean the Mexican gun running?”

      Bob: “No, the other one.”

      Jim: “You mean SEAL Team 6?”

      Bob: “No, the other one.”

      Jim: “Obama saying the average family would save $2,500 on their premiums?”

      Bob: “No, the other one.”

      Jim: “Obama having NSA spy on 124 Billion Phone Calls in One Month?”

      Bob: “No, the other one.”

      Jim: “Obama intentionally ignoring our immigration laws?”

      Bob: “No, the other one.”

      Jim: “Bailing out Detroit after decades of corrupt Democratic management?”

      Bob: “No, the other one.”

      Jim: “You mean the State Dept. lying about Benghazi?”

      Bob: “No, the other one.”

      Jim: “You mean voter fraud?”

      Bob: “No, the other one.”

      Jim: “You mean Obama saying we can keep our insurance and doctors if we wanted to?”

      Bob: “No, the other one.”

      Jim: “You mean the military not getting their votes counted?”

      Bob: “No, the other one.”

      Jim: “The NSA monitoring foreign diplomats?”

      Bob: “No, the other one.”

      Jim: “You mean the use of drones in our own country without the benefit of the law?”

      Bob: “No, the other one.”

      Jim: “Giving 123 Technologies $300 Million and right after it declared bankruptcy and was sold to the Chinese?”

      Bob: “No, the other one.”

      Jim: “You mean the president arming the Muslim Brotherhood?”

      Bob: “No the other one.”;

      Jim: “The IRS targeting conservatives?”

      Bob: “No, the other one.”

      Jim: “The DOJ spying on the press?”

      Bob: “No, the other one.”

      Jim: “Sebelius shaking down health insurance executives?”

      Bob: “No, the other one.”

      Jim: “You mean Obama spending $3.7 Trillion on Welfare Over Last 5 Years”

      Bob: “No, the other one.”

      Jim: “Giving SOLYNDRA $500 MILLION DOLLARS and 3 months later they declared bankruptcy and then the Chinese bought it?”

      Bob: “No, the other one.”

      Jim: “The NSA monitoring our phone calls, emails and everything else?”

      Bob: “No, the other one.”

      Jim: “Millions of Americans losing their health care coverage?”

      Bob: “No, the other one.”

      Jim: “Forcing Americans to include coverage in their insurance policies of items they do not want?”

      Bob: “No, the other one.”

      Jim: “The
      president’s ordering the release of nearly 10,000 illegal immigrants
      from jails and prisons, and falsely blaming the sequester?”

      Bob: “No, the other one.”

      Jim: “The president’s threat to impose gun control by Executive Order in order to bypass Congress?”

      Bob: “No, the other one.”

      Jim: “Providing weapons to Syrian rebels many of whom apparently are Al Qaeda?”

      Bob: “No, the other one.”

      Jim: “The president’s repeated violation of the law requiring him to submit a budget no later than the first Monday in February?”

      Bob: “No, the other one.”

      Jim: “The 2012 vote where 115% of all registered voters in some counties voted 100% for Obama?”

      Bob: “No, the other one.”

      Jim: “The president’s unconstitutional recess appointments in an attempt to circumvent the Senate’s advise-and-consent role?”

      Bob: “No, the other one.”

      Jim: “The State Department interfering with an Inspector General investigation on departmental sexual misconduct?”

      Bob: “No, the other one.”

      Jim: “Clinton, the IRS, Clapper and Holder all lying to Congress?”

      Bob: “No, the other one.”

      Jim: “The President using nearly $1 trillion dollars of stimulus money to fund his cronies?”

      Bob: “No, the other one.”

      Jim: “You mean Fast & Furious?”

      Bob: “No, the other one.”

      Jim: “I give up! … Oh wait, I think I got it! … You
      mean that 65 million low-information voters who don’t pay taxes and get
      free stuff from taxpayers and stuck us again with the most pandering,
      corrupt administration in American history?”

      Bob: “THAT’S THE ONE!”

      • Sorry bud wrong again .. FYI… I Keep my doctor got a Better plan and saw my insurance bill go down by Half. So I don’t have a problem with it.

  8. So like, keep allowing that muslim terrorist to keep draining American’s money so he can keep supplying his Taliban buddies! Y’all have to see this if I do so what is congress going to do?!?! How long is congress going to let Obama destroy our country?!?! That Muslim Terrorist needs sent to the gallow’s NOW !!!

  9. Great job Prez. BlowMama….

  10. All of the Federal Depts/agencies are bloated, they will spend money on making videos or stupid research to use up any money left at the end of fiscal year. The Park Service made 3 videos of young Muslim girls saying that they are treated equal to the boys. Have not figured out yet what that has to to with the Park Service and in the sequestration the Nazi (head of Park Service) in his uniform sat there saying they need money. Then they have the conference parties that are outrageously expensive. The budget to fund the gov. is being discussed, I e-mailed the speaker and said don’t fund anything but the service men and SS for the senior citizens, health care for cancer patients, do not fund immigration. No money to the UN.it is not a country. Cut all foreign policy money. Stand up for American citizens and their children.

  11. Admin, the blame needs to go to the GOP! Firstly, just last week congressional Republicans pushed for a package of tax breaks that would cost $440 billion over the next decade. How would GOP lawmakers pay for this? They won’t! – the tax breaks would just be added to the national debt. Given this, it seems like an odd time for them to start whining about not being about not being able to afford Obama’s policies.
    Second, though I realize Republicans find this terribly inconvenient, President Obama has overseen the fastest deficit reduction seen in the United States since the end of WW2. Look it up. For that matter, nearly all of the president’s agenda – Affordable Care Act, immigration reform, etc. – would actually improve the nation’s finances.
    Third, Mr. Priebus may not remember this, but it was his party that turned a massive surplus into a massive deficit, putting two wars, two tax breaks, Medicare expansion, and a Wall Street bailout on the national charge card, leaving the bill for future generations.

    • Your out of your mind. Go back to school. You need some more indoctrination.

    • You are a nutcase.. You are brain washed.. Turn off cnn and msnbc. Under obama our debt has risen almost 8 trillion. He lied on stimulus and obamacare. He lies about everything. Remember he promised to have the most transparent administration ever? — Try transparency on some of these. —

      Bob: “Hey Jim, did you hear about the Obama administration scandal?

      Jim: “You mean releasing 5 dangerous terrorists for a deserter?”

      Bob: “No, the other one.”

      Jim: “You
      mean corruption and terrible conditions at the VA after Obama attacked
      Republicans for it and said he would fix all those problems?”

      Bob: “No, the other one.”

      Jim: “You mean outing the CIA station chief in Afghanistan?”

      Bob: “No, the other one.”

      Jim: “You mean the Mexican gun running?”

      Bob: “No, the other one.”

      Jim: “You mean SEAL Team 6?”

      Bob: “No, the other one.”

      Jim: “Obama saying the average family would save $2,500 on their premiums?”

      Bob: “No, the other one.”

      Jim: “Obama having NSA spy on 124 Billion Phone Calls in One Month?”

      Bob: “No, the other one.”

      Jim: “Obama intentionally ignoring our immigration laws?”

      Bob: “No, the other one.”

      Jim: “Bailing out Detroit after decades of corrupt Democratic management?”

      Bob: “No, the other one.”

      Jim: “You mean the State Dept. lying about Benghazi?”

      Bob: “No, the other one.”

      Jim: “You mean voter fraud?”

      Bob: “No, the other one.”

      Jim: “You mean Obama saying we can keep our insurance and doctors if we wanted to?”

      Bob: “No, the other one.”

      Jim: “You mean the military not getting their votes counted?”

      Bob: “No, the other one.”

      Jim: “The NSA monitoring foreign diplomats?”

      Bob: “No, the other one.”

      Jim: “You mean the use of drones in our own country without the benefit of the law?”

      Bob: “No, the other one.”

      Jim: “Giving 123 Technologies $300 Million and right after it declared bankruptcy and was sold to the Chinese?”

      Bob: “No, the other one.”

      Jim: “You mean the president arming the Muslim Brotherhood?”

      Bob: “No the other one.”;

      Jim: “The IRS targeting conservatives?”

      Bob: “No, the other one.”

      Jim: “The DOJ spying on the press?”

      Bob: “No, the other one.”

      Jim: “Sebelius shaking down health insurance executives?”

      Bob: “No, the other one.”

      Jim: “You mean Obama spending $3.7 Trillion on Welfare Over Last 5 Years”

      Bob: “No, the other one.”

      Jim: “Giving SOLYNDRA $500 MILLION DOLLARS and 3 months later they declared bankruptcy and then the Chinese bought it?”

      Bob: “No, the other one.”

      Jim: “The NSA monitoring our phone calls, emails and everything else?”

      Bob: “No, the other one.”

      Jim: “Millions of Americans losing their health care coverage?”

      Bob: “No, the other one.”

      Jim: “Forcing Americans to include coverage in their insurance policies of items they do not want?”

      Bob: “No, the other one.”

      Jim: “The
      president’s ordering the release of nearly 10,000 illegal immigrants
      from jails and prisons, and falsely blaming the sequester?”

      Bob: “No, the other one.”

      Jim: “The president’s threat to impose gun control by Executive Order in order to bypass Congress?”

      Bob: “No, the other one.”

      Jim: “Providing weapons to Syrian rebels many of whom apparently are Al Qaeda?”

      Bob: “No, the other one.”

      Jim: “The president’s repeated violation of the law requiring him to submit a budget no later than the first Monday in February?”

      Bob: “No, the other one.”

      Jim: “The 2012 vote where 115% of all registered voters in some counties voted 100% for Obama?”

      Bob: “No, the other one.”

      Jim: “The president’s unconstitutional recess appointments in an attempt to circumvent the Senate’s advise-and-consent role?”

      Bob: “No, the other one.”

      Jim: “The State Department interfering with an Inspector General investigation on departmental sexual misconduct?”

      Bob: “No, the other one.”

      Jim: “Clinton, the IRS, Clapper and Holder all lying to Congress?”

      Bob: “No, the other one.”

      Jim: “The President using nearly $1 trillion dollars of stimulus money to fund his cronies?”

      Bob: “No, the other one.”

      Jim: “You mean Fast & Furious?”

      Bob: “No, the other one.”

      Jim: “I give up! … Oh wait, I think I got it! … You
      mean that 65 million low-information voters who don’t pay taxes and get
      free stuff from taxpayers and stuck us again with the most pandering,
      corrupt administration in American history?”

      Bob: “THAT’S THE ONE!”

  12. Social security and medicare are NOT entitlements!!!!!!! They were paid for by people for retirement…Also these payments should not go to ILLEGAL immigrants!!!!!!!!

  13. Firing obozo wont solve the problem. Firing congress wont solve the problem either. Face it everyone. Its time to hit the RESET button on all their a$$es and all who want handouts without working for them

  14. Our debt surpasses 18 trillion and yet we have money to let 5 million illegal aliens stay in our country and become eligible for taxpayer benefits???? China in a few short years has now become the largest ecenomy in the world. and they also don’t carry the debt load that we do as a country. Why? Because countries that operate in the black actually produce stuff. American companies, either because of lousy regulations, riduculous union pensions and laws and the U.S. tax code have moved their manufacturing overseas to China. We import inferior merchandise that we can make better here, but we don’t. We let radical environmentalists shut down our potential to be energy self-sufficient and we pay through the nose for energy from people who hate us. The Chinese, one of the worst polluters of the world, are buying our coal reserves for rock bottom prices because thanks to the EPA, we cannot use our own resources. Do the idiots at the EPA really think that their climate change forcasts only happen if we burn coal here and not in China? And these same idiots think that if they create a paper scam to sell credits, somehow the pollution from China will suddenly disappear while making liberals rich at the same time? A huge debt and no means of self-sufficiency is the quickest route to self-destruction. There are countries out there just waiting to see the downfall of America, and what will follow, contrary to the naivite of Progressives and Globalists, will not be pretty.

  15. now we know how the politicians and gov workers are getting rich. social security and medicare we workers paid into. stop all the illegal alien taxpayer funding and welfare for anyone able to work.

  16. It means gearing up, baring down, and making some serious cuts to Social Security, Medicare, Medicaid, and Obamacare. That’s it. That’s the only way, short of gutting our military.

    That’s a crap way to look at things.
    I say gut entitlements; impeach the socialist and kick out the gays.
    that’s a better start.
    Social security should never be touched. Impeach the Kenyan first.

  17. I wonder how many Dollars do they spend each month for ALL Federal Employee’s?
    How much more are less for Obama compared to Clinton n Bush? Maybe we should DUMP several Departments like the Department of Education and add a Human Resource Department to CONTROL ALL SALARIES THAT WORK IN WHITE HOUSE?
    THEY need A BUDGET TO COnTROL EXPENSE!

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