Its on purpose folks , The debt !

[INTIMADATOR2007]

http://www.cnsnews.com/news/article/federal-borrowing-pace-hit-debt-limit-le

The actual average monthly increase in the debt during Obama’s presidency has been $139.5 billion.
In fact, in the past six days, the debt has increased at a far faster pace than either the $4.03 billion per day average suggested by Secretary Geithner or the $4.5 billion per day that the Treasury has increased the debt since Obama became president. At the close of business last Wednesday, the debt subject to the limit was $ 14.211984 trillion--or $56.381 less than the debt recorded at the close of business Tuesday.
In other words, in the six days of Thursday, Friday, Saturday, Sunday, Monday, Tuesday, the national debt increased $56.381 billion---or almost $9.4 billion per day.
At that pace, the Treasury would exhaust its $25.635 in remaining borrowing authority in less than 3 days.



This country is on the fast track to doom , If this keeps up , Which it will . Its being done on purpose !

[theonedru]

Its being done because Americans are too weak and cowardly to do anything about it, the country will bust and everyone will sit and whine "someone should have saw it coming and did something" like they love to do while ignoring the fact they were the solution to the problem

[NorCal Sports]

I think we should see some spending cuts over the next 4 years. Also, the last 4 years have been filled with Government spending during a recession .... which is what the treasury is always going to recommend doing in recessionary times. If the government were to have cut spending in 2008, it would have been a bigger crash.

As the country recovers from the recession, they obviously need to cut back, raise rates and do what's necessary. I think they will do this. It won't be huge cuts, because only national defense, medicare, and social security can be cut to make an 'big' impact. We need to keep making small cuts over a long period of time. Also, most of the debt is 'guaranteed' benefits to ourselves ... its not China's money, they just buy the treasuries that fund it all.

I hope we start cutting back, but with that being said, some economists will argue that if GDP grows fast enough, you really don't need to 'worry' about national debt.