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January 23, 2014
Obama Adds Over $500 Billion In New Debt in Just Three Months Under Mitch McConnell’s Blank Check Debt Ceiling Deal
Barack Obama has blown through more than $500 billion in deficit spending in the three months since passage of the deal proposed by Senate Minority Leader Mitch McConnell (R-KY) on easing the debt ceiling battles that gave Obama virtually unlimited borrowing authority from October 17, 2013 through this February 7th.
Treasury Secretary Jack Lew sent a letter to Congress today imploring the debt ceiling be raised by February 7th, or the end of February at the latest. Lew cited a limited amount of financial trickery the Treasury can employ to skirt the re-imposition of borrowing authority until the end of February.
CBS News’ Mark Knoller reported on Twitter that Obama had racked up $526 billion in new debt since October 17. The deficit for the entire 2013 fiscal year was $680 billion.
Last April Obama proposed a FY 2014 budget with a deficit of $744 billion.
The national debt now tops $17.2 trillion.
Wild Thing's comment............
I hope the voters remember what Mitch did and how he benefited from his deal. Regarding Obama, he want to run our country into the ground in every way possible.
Posted by Wild Thing at January 23, 2014 12:47 AM
Comments
Mark Levin called the perfect when he said they're nothing but the Republican Wing of the Democrat Party.
Posted by: bobf at January 23, 2014 09:45 AM
