Federal Debt Report/ Feb. 2011
America’s National Debt rose by another $63.7 billion dollars in the month of February, according to the Bureau of Public Debt*. That currently leaves us with a grand total of $14.195 trillions of debt as of March 1st, 2011. In a behind the scenes move to try to postpone having to raise the debt ceiling, the Obama administration and Secretary of the Treasury, Timothy Geitner dipped into the treasuries cash reserves. I suppose that it would be pretty awkward to add an increase of our debt ceiling into the mixture of budget battles going on in Congress right now, and their timid attempts at trying to keep our government from shutting down.
To the left here we see President Obama signing an executive order to create a budget commission.There was lots of pomp and celebration about how Obama is taking a step forward to address our current fiscal insanity and massive debt problem. With the help of the Media puppets, this was celebrated as if someone had invented a cure for the worst plague to ever threaten America: Our National Debt. They hadn’t even held one meeting and the MSM was talking about how great the chosen one was for coming up with such a brilliant idea, to hear them tell it 24/7 at the time.
These gentlemen called all kinds of meetings, conferences, and hearings to try to come up with viable working solutions to our looming national bankruptcy. They included top business executives, past budget hawks, U. S. Congressmen and Senators. all putting their knowledge and experience together to try to find a debt solution. In the end they came up with a variety of plans, but couldn’t reach a simple concensus on even the most basic of actions needed, such as which budget cuts to make, whether to raise taxes and upon whom, and what other ways we could reduce our massive debt burden. They came up with reports that contained a variety of needed measures to avoid economic an collapse in America. They then submitted these reports to the President, The Treasury and the U.S Congress. After which, the President submitted a budget proposal to Congress that ignored every single reality and recomendation that was in the budget commission’s reports. To put it bluntly, it was all a charade to make Obama look like some kind of hero. This charade was totally exposed when Obama blatantly ignored the reality of their reports, and submitted a budget that continues to expand our national debt to the point of insolvency today.