The Bulletin Board:(Please SCROLL DOWN this page to find the article titled on this post in LARGE CAPITAL LETTERS. Thank you.)
"During Obama’s Presidency, National Debt Has Grown by $61K Per Household" - Michael Sargent/ September 03, 2014 / http://dailysignal.com/2014/09/03/obamas-presidency-national-debt-grown-61k-per-household/
You may have heard pundits time and time again dismiss America’s debt problem, touting that the deficit has fallen by 50 percent since 2009. Yet that sidesteps the real issue: the massive amount of debt the country has taken on in the past six years has put the nation in a vulnerable position as entitlement spending is set to take off and big-spending policies continue to pile on debt. Indeed, the United States has added $7.06 trillion of debt since President Obama took office—far more than under any previous president. This is bad news for tomorrow’s Americans who could face slower economic growth and higher taxes as America’s mounting debt continues to climb and outpace growth of the economy.
Today, the country is saddled with more than $17.6 trillion of gross debt, an increase of more than $61,000 per American household during Obama’s presidency alone. Median household income in the U.S. is about $51,000. This means that during Obama’s presidency debt per household grew by more than the typical American family earns in a given year.
No, that’s not a typo. (Photo: Getty Images)
If that’s not alarming, take a look at how this debt stacks up:
Need a new ride? Obama and Congress could have bought each American household a Mercedes Benz E-Class sedan (MSRP $51,400-$61,400) with the debt accumulated during Obama’s presidency. Perhaps that could have worked out better than the $3 billion that was squandered on the failed “Cash for Clunkers” program.
Every American household could buy a Mercedes Benz E-Class sedan with the nation’s debt. (Photo: Creative Commons)
The debt increase seen over the past six years is massive enough to eclipse the entire annual production of other top economies around the world. The $7.06 trillion added during Obama’s tenure exceeds the combined 2013 output of Germany and France, the two largest economies in Europe. It is also roughly equal to the combined 2013 GDP of Japan and Brazil, the third and seventh largest producers in the world, respectively.
Frankfurt, the financial capital of Germany. (Photo: Wikimedia)
Cristiano Renaldo, the highest-paid soccer player in the world, made $80 million last year.In order for him to pay off the debt accrued during Obama’s presidency, he would have to play soccer for 88,250 years. To work off the total U.S. debt, Renaldo would have to spend an astounding 220,000 years on the pitch.
Cristiano Ronaldo at the Vicente Calderon Stadium in Madrid, Spain. (Photo: Mutsu Kawamori/AFLO)
But how hard would the richest of the rich need to work to run up this kind of tab? With an estimated fortune of $79.1 billion, Bill Gates is the currently the wealthiest person in the United States.
However, he would need to donate his entire fortune more than 89 times over to pay off the debt incurred since Obama took office. To pay off the entire national debt, we’d need more than 220 Bill Gateses willing to fork over their net wealth to the U.S treasury.
To pay off the entire national debt, we’d need more than 220 Bill Gateses willing to fork over their net wealth to the U.S treasury.’ (Photo: Newscom)
Unfortunately, this could only be the beginning. If you think the $7 trillion under Obama’s watch—or the national debt of $17.6 trillion—is excessive, compare that to Medicare’s (part A) and Social Security’s unfunded obligations over the next 75 years, which currently totals $49 trillion. That’s almost three times the size of today’s national debt . That is $49 trillion the country will not have to pay the benefits it is expected to give out under current law.
Take that in — $49 trillion in unfunded obligations over the next 75 years. Whoa. (Photo: Christopher Furlong/Getty Images)
This massive growth of debt is troubling, and shows little sign of slowing down. The Congressional Budget Office predicts that deficits will return to near trillion-dollar levels in the next 10 years and expects another $7.2 trillion to be added to the debt by 2024.
Unfortunately, the $17.6 trillion debt could only be the beginning -- and it falls on the American people. (Photo: Newscom)
In order to reverse this trend, the country needs to seriously address its spending problem, starting with an evaluation of its biggest culprit: swelling entitlement programs. Continuing to put off the problem will leave the next generation more indebted and economically weak than any before it—and that is not the American way.
[bold and italics emphasis mine]
PRAY FOR AMERICA: THANK GOD for His many blessings on America throughout it's history. May we then ask that AMERICA once again be a blessing TO GOD, by once again submitting to HIS will in our affairs - both personal and national - that He may truly "heal our land." (2 Chron. 7:14)
WORLD-WDE PRAYER REQUESTS:
UPDATE: "Second US Doctor Sick with Ebola; Crisis 'Out of Control'" - CBNNews.com, Sept. 02, 2014;
http://www.cbn.com/cbnnews/healthscience/2014/September/A-Losing-Battle-Ebola-Going-to-Get-Worse-CDC-Says/ "Another American doctor in Liberia has tested positive for the Ebola virus, according to the international Christian mission organization, SIM. SIM leaders report the American doctor was treating obstetrics patients at the organization's ELWA Hospital in Monrovia and not treating Ebola patients..."The epidemic is going faster than we are," he warned. 'We need to scale up our response. We can hope for new tools and maybe they'll come, but we can't count on them.' So far, the West African outbreak has killed more than 1,500 people in Guinea, Liberia, Sierra Leone and Nigeria."
Of course, let's CONTINUE PRAYING FOR AN END TO THE EBOLA CRISIS IN WEST AFRICA AND THE HEALING OF ALL THOSE WHO HAVE BEEN INFECTED.
PRAY FOR THE CRISIS HAPPENING NOW IN IRAQ (see post #907) Pray that allied forces will be able to drive the group ISIS back (see post #964)
LATEST:"Christians in the Middle East Arm Themselves As Genocide Comes to Their Front Door" - Katie Pavlich | Sep 05, 2014;
http://townhall.com/tipsheet/katiepavlich/2014/09/05/christians-in-the-middle-east-arm-themselves-as-violence-rages-around-them-n1887849" Earlier this week the BBC and Al Jazeera both reported on armed Iraqi citizen volunteers who helped government forces fight off ISIS in Amerli. Today, the AP is out with a story about Christians in the Middle East who are arming themselves, carrying weapons with them during daily tasks and heading to the hills at night to defend their communities as violence continues to rage around them. Genocide is at their front door and they're doing everything they can to stop it from coming in... So far, the terror army ISIS has slaughtered and tortured thousands of Christians in Iraq and Syria."
URGENT: Emergency Relief For Iraqi Believers Facing Genocide! - August 30, 2014- Liberty Counsel Action is partnering with RUN Ministries to deliver emergency food, water and shelter to Iraqi Christians and Yazidis who have fled their homes and are facing genocide. More than 146,000 people are now threatened by genocide from radical ISIS forces.RUN Ministries has a solid network of believers throughout the Middle East who are willing to risk life and limb to get relief through the ISIS lines of defense. The cost of getting the needed aid to them is $8 per person per day. This includes tents, blankets, food, and water for the first 3 weeks. TO DONATE (as I have), PLEASE GO TO: http://www.grassrootsaction.com/201181/offer.asp?Ref_ID=27781&CID=201181&RID=42814607
"Not Everyone Happy with Religious Ambassador Pick," Caitlin Burke,July 29, 2014;
http://www.cbn.com/cbnnews/world/2014/July/Obama-Taps-Rabbi-for-Religious-Freedom-Ambassador/ "..An estimated 76 percent of the world's population live in countries where religious freedom is restricted. Secretary of State John Kerry said the United States must take a strong stand against those violations. "Around the world repressive governments and extremists groups have been crystal clear about what they stand against, so we have to be equally clear about what we must stand for," Kerry said. "We stand for greater freedom, for greater tolerance, greater respect, for rights of freedom of expression and freedom of conscience," he said A key development in the 2013 report is the large number of displaced members of religious communities, including entire Christian communities in Syria and Iraq that have been forced to flee their homes because of persecution."
SIGN A PETITION TO THE UN FOR THE PROTECTION OF CHRISTIANS :" The church in Syria has shone brightly for 2,000 years. But today violence and persecution threatens its survival. Thanks to an incredible response, Open Doors is helping 8,000 families in Syria survive each month. We believe the signatures and prayers of 500,000 people will encourage the UN to act and protect the rights and lives of all Syrians, especially the vulnerable Christian community." Go to: http://lp.opendoorsusa.org/emails/nov-13-action/save-syria.html?utm_source=action&utm_medium=email&utm_content=button&utm_campaign=november
LATEST SAHEED NEWS! May 22 - "Pastor Saeed Forcibly Returned to Prison after Beating" - By Caitlin Burke,CBN News, May 22, 2014;
http://www.cbn.com/cbnnews/world/2014/May/Pastor-Saeed-Beaten-Sent-Back-to-Iran-Prison/ "Saeed Abedini, a U.S. pastor imprisoned for his faith, was severely beaten at an Iranian hospital before being returned to the brutal Rajai Shahr prison. His Iranian family claims the transfer was unexpected and the reason is unclear. But one of the guards involved in the transfer suggested recent Iranian nuclear talks could be a motive, the family said...""
We need to continue to pray for Pastor Saeed - that his health will improve and that he will be re-united with his wife and two young children who live in the United States. We also remain hopeful that in addition to getting the medical care he so desperately needs, that Iranian officials display the kind of humanitarian treatment that often accompanies the start of the Iranian New Year which began on March 21st. This is the time of year when the Iranian government frequently offers clemency to prisoners of conscience. [If you have not yet, please sign the petition for his clemency- http://beheardproject.com/saeed#sign]
*For the people of Ukrainen [esp. for the church 'to be THE church'] as they wait to see if the Russian troops will advance.
*About President Obama and to use wisdom in crafting our foreign policy, and wisdom for his advisers.
Continue to Pray for EGYPT - Continue to pray for the tense situation in Egypt and especially for the Christian believers who are being targeted with violence by Muslim Brotherhood members.]
----------------------------------------------------------------------
WORLD-WDE PRAYER REQUESTS:
UPDATE: "Second US Doctor Sick with Ebola; Crisis 'Out of Control'" - CBNNews.com, Sept. 02, 2014;
http://www.cbn.com/cbnnews/healthscience/2014/September/A-Losing-Battle-Ebola-Going-to-Get-Worse-CDC-Says/ "Another American doctor in Liberia has tested positive for the Ebola virus, according to the international Christian mission organization, SIM. SIM leaders report the American doctor was treating obstetrics patients at the organization's ELWA Hospital in Monrovia and not treating Ebola patients..."The epidemic is going faster than we are," he warned. 'We need to scale up our response. We can hope for new tools and maybe they'll come, but we can't count on them.' So far, the West African outbreak has killed more than 1,500 people in Guinea, Liberia, Sierra Leone and Nigeria."
Of course, let's CONTINUE PRAYING FOR AN END TO THE EBOLA CRISIS IN WEST AFRICA AND THE HEALING OF ALL THOSE WHO HAVE BEEN INFECTED.
PRAY FOR THE CRISIS HAPPENING NOW IN IRAQ (see post #907) Pray that allied forces will be able to drive the group ISIS back (see post #964)
LATEST:"Christians in the Middle East Arm Themselves As Genocide Comes to Their Front Door" - Katie Pavlich | Sep 05, 2014;
http://townhall.com/tipsheet/katiepavlich/2014/09/05/christians-in-the-middle-east-arm-themselves-as-violence-rages-around-them-n1887849" Earlier this week the BBC and Al Jazeera both reported on armed Iraqi citizen volunteers who helped government forces fight off ISIS in Amerli. Today, the AP is out with a story about Christians in the Middle East who are arming themselves, carrying weapons with them during daily tasks and heading to the hills at night to defend their communities as violence continues to rage around them. Genocide is at their front door and they're doing everything they can to stop it from coming in... So far, the terror army ISIS has slaughtered and tortured thousands of Christians in Iraq and Syria."
URGENT: Emergency Relief For Iraqi Believers Facing Genocide! - August 30, 2014- Liberty Counsel Action is partnering with RUN Ministries to deliver emergency food, water and shelter to Iraqi Christians and Yazidis who have fled their homes and are facing genocide. More than 146,000 people are now threatened by genocide from radical ISIS forces.RUN Ministries has a solid network of believers throughout the Middle East who are willing to risk life and limb to get relief through the ISIS lines of defense. The cost of getting the needed aid to them is $8 per person per day. This includes tents, blankets, food, and water for the first 3 weeks. TO DONATE (as I have), PLEASE GO TO: http://www.grassrootsaction.com/201181/offer.asp?Ref_ID=27781&CID=201181&RID=42814607
"Not Everyone Happy with Religious Ambassador Pick," Caitlin Burke,July 29, 2014;
http://www.cbn.com/cbnnews/world/2014/July/Obama-Taps-Rabbi-for-Religious-Freedom-Ambassador/ "..An estimated 76 percent of the world's population live in countries where religious freedom is restricted. Secretary of State John Kerry said the United States must take a strong stand against those violations. "Around the world repressive governments and extremists groups have been crystal clear about what they stand against, so we have to be equally clear about what we must stand for," Kerry said. "We stand for greater freedom, for greater tolerance, greater respect, for rights of freedom of expression and freedom of conscience," he said A key development in the 2013 report is the large number of displaced members of religious communities, including entire Christian communities in Syria and Iraq that have been forced to flee their homes because of persecution."
SIGN A PETITION TO THE UN FOR THE PROTECTION OF CHRISTIANS :" The church in Syria has shone brightly for 2,000 years. But today violence and persecution threatens its survival. Thanks to an incredible response, Open Doors is helping 8,000 families in Syria survive each month. We believe the signatures and prayers of 500,000 people will encourage the UN to act and protect the rights and lives of all Syrians, especially the vulnerable Christian community." Go to: http://lp.opendoorsusa.org/emails/nov-13-action/save-syria.html?utm_source=action&utm_medium=email&utm_content=button&utm_campaign=november
LATEST SAHEED NEWS! May 22 - "Pastor Saeed Forcibly Returned to Prison after Beating" - By Caitlin Burke,CBN News, May 22, 2014;
http://www.cbn.com/cbnnews/world/2014/May/Pastor-Saeed-Beaten-Sent-Back-to-Iran-Prison/ "Saeed Abedini, a U.S. pastor imprisoned for his faith, was severely beaten at an Iranian hospital before being returned to the brutal Rajai Shahr prison. His Iranian family claims the transfer was unexpected and the reason is unclear. But one of the guards involved in the transfer suggested recent Iranian nuclear talks could be a motive, the family said...""
We need to continue to pray for Pastor Saeed - that his health will improve and that he will be re-united with his wife and two young children who live in the United States. We also remain hopeful that in addition to getting the medical care he so desperately needs, that Iranian officials display the kind of humanitarian treatment that often accompanies the start of the Iranian New Year which began on March 21st. This is the time of year when the Iranian government frequently offers clemency to prisoners of conscience. [If you have not yet, please sign the petition for his clemency- http://beheardproject.com/saeed#sign]
PRAY ALSO : - For comfort and peace for Saeed’s wife and children here in the U.S.\
- For a strong witness and testimony from Pastor Abedini in the prison where God has placed him
- For Christians around the world who are being persecuted for their faith in Christ
- For leadership from the White House and State Department in defending the freedoms of Abedini and other Americans
- GO TO SaveSaeed.org to sign a petition over 600,000 others asking for his immediate release
/PRAYER ALERT- UKRAINE: As the Lord leads, please pray:
*For God to suppress President Putin’s ambitions to "restore" the Soviet empire.*For the people of Ukrainen [esp. for the church 'to be THE church'] as they wait to see if the Russian troops will advance.
*About President Obama and to use wisdom in crafting our foreign policy, and wisdom for his advisers.
Continue to Pray for EGYPT - Continue to pray for the tense situation in Egypt and especially for the Christian believers who are being targeted with violence by Muslim Brotherhood members.]
----------------------------------------------------------------------
"During Obama’s Presidency, National Debt Has Grown by $61K Per Household" - Michael Sargent/ September 03, 2014 / http://dailysignal.com/2014/09/03/obamas-presidency-national-debt-grown-61k-per-household/
You may have heard pundits time and time again dismiss America’s debt problem, touting that the deficit has fallen by 50 percent since 2009. Yet that sidesteps the real issue: the massive amount of debt the country has taken on in the past six years has put the nation in a vulnerable position as entitlement spending is set to take off and big-spending policies continue to pile on debt. Indeed, the United States has added $7.06 trillion of debt since President Obama took office—far more than under any previous president. This is bad news for tomorrow’s Americans who could face slower economic growth and higher taxes as America’s mounting debt continues to climb and outpace growth of the economy.
Today, the country is saddled with more than $17.6 trillion of gross debt, an increase of more than $61,000 per American household during Obama’s presidency alone. Median household income in the U.S. is about $51,000. This means that during Obama’s presidency debt per household grew by more than the typical American family earns in a given year.
No, that’s not a typo. (Photo: Getty Images)
If that’s not alarming, take a look at how this debt stacks up:
Need a new ride? Obama and Congress could have bought each American household a Mercedes Benz E-Class sedan (MSRP $51,400-$61,400) with the debt accumulated during Obama’s presidency. Perhaps that could have worked out better than the $3 billion that was squandered on the failed “Cash for Clunkers” program.
Every American household could buy a Mercedes Benz E-Class sedan with the nation’s debt. (Photo: Creative Commons)
The debt increase seen over the past six years is massive enough to eclipse the entire annual production of other top economies around the world. The $7.06 trillion added during Obama’s tenure exceeds the combined 2013 output of Germany and France, the two largest economies in Europe. It is also roughly equal to the combined 2013 GDP of Japan and Brazil, the third and seventh largest producers in the world, respectively.
Frankfurt, the financial capital of Germany. (Photo: Wikimedia)
Cristiano Renaldo, the highest-paid soccer player in the world, made $80 million last year.In order for him to pay off the debt accrued during Obama’s presidency, he would have to play soccer for 88,250 years. To work off the total U.S. debt, Renaldo would have to spend an astounding 220,000 years on the pitch.
Cristiano Ronaldo at the Vicente Calderon Stadium in Madrid, Spain. (Photo: Mutsu Kawamori/AFLO)
But how hard would the richest of the rich need to work to run up this kind of tab? With an estimated fortune of $79.1 billion, Bill Gates is the currently the wealthiest person in the United States.
However, he would need to donate his entire fortune more than 89 times over to pay off the debt incurred since Obama took office. To pay off the entire national debt, we’d need more than 220 Bill Gateses willing to fork over their net wealth to the U.S treasury.
To pay off the entire national debt, we’d need more than 220 Bill Gateses willing to fork over their net wealth to the U.S treasury.’ (Photo: Newscom)
Unfortunately, this could only be the beginning. If you think the $7 trillion under Obama’s watch—or the national debt of $17.6 trillion—is excessive, compare that to Medicare’s (part A) and Social Security’s unfunded obligations over the next 75 years, which currently totals $49 trillion. That’s almost three times the size of today’s national debt . That is $49 trillion the country will not have to pay the benefits it is expected to give out under current law.
Take that in — $49 trillion in unfunded obligations over the next 75 years. Whoa. (Photo: Christopher Furlong/Getty Images)
This massive growth of debt is troubling, and shows little sign of slowing down. The Congressional Budget Office predicts that deficits will return to near trillion-dollar levels in the next 10 years and expects another $7.2 trillion to be added to the debt by 2024.
Unfortunately, the $17.6 trillion debt could only be the beginning -- and it falls on the American people. (Photo: Newscom)
In order to reverse this trend, the country needs to seriously address its spending problem, starting with an evaluation of its biggest culprit: swelling entitlement programs. Continuing to put off the problem will leave the next generation more indebted and economically weak than any before it—and that is not the American way.
[bold and italics emphasis mine]
No comments:
Post a Comment