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National debt grows even faster than president knows

April 24, 2014

Americans seem to have become numb to worry about our astronomical national debt, already at $17.5 trillion....

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(35)

Villager

Apr-24-14 1:09 PM

Clinton's projected surplus never materialized because he started spending crazily near the end of his last term. The Bush doubled down spending like a sailor on leave. Obama is the worse yet, he has quintupled Bush's spending in ONE term.

Nobody seems to care! Everyone just wants to argue that they are better than the opposing political group.

And then there's our wonderful Saranac Lake school board ... they should run for President, they'd outspend all the others.

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Hidebound

Apr-24-14 3:48 PM

Who wrote this editorial? A local editor or local press or ultra-conservative Robert Nutting's Ogden Newspapers, the owners of your so-called "local" newspaper? West Virginia opinions are NOT local!

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Walker

Apr-24-14 3:53 PM

Time to institute 0.5% the Wall St. transaction tax. Problem solved, AND it would make the next bubble way less likely.

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phahn50

Apr-24-14 5:33 PM

dumb

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Crugill

Apr-24-14 7:10 PM

re:"Who wrote this editorial?..local editor ...or ultra-conservative Robert Nutting's...." > This is can not be the work of OgdenNews - it is no doubt "Crowley" of the "Tony Blair has no idea..." "What is Washington DC thinking" re:US personnel being "stranded" on the boondoggle Intnl. Space Station by Vlad Putin, The clueless "Demonic Possession" - totally off-base on many counts, not just the obvious - & that had touched off a firestorm... The "let the global economy tank" in 2008 had been Crowley Economics 101 at it's finest.

Here's the deal - the "Maui News" in 2008 had endorsed many candidates in local Hawaiian Island Campaigns, but NOBODY for President. The Nuttings probably like heading out there, & the "deep pockets" had been prepared to "Make them an offer they couldn't refuse."

Have at it - "No due diligence" if what I hear about those hardballers is tr

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Crugill

Apr-24-14 7:19 PM

...Have at it - "No due diligence permitted," if what I hear about those hard-baller WV Crew is true.. But I don't think that they head to the ADKs on "business trips" as much as they do to Hawaii --

You might get lucky with a low-ball offer.....

Should we put the ADE back up on "Craigs List?"

goo.gl/zRHUir

>>>BREAKING>NEWZ>>

goo.gl/PE2T5W

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Crugill

Apr-24-14 7:31 PM

PAGING CROWLEY'S BOSOM-BUDDIES DW12983 & His BLOGOSPHERICS>>>

Mom is yelling from upstairs - dinner is getting cold -- Must Leave The Basement -- We'll Leave he Light on for you Bloggeroos ...

Thefacebook . com/MOMS.BASEMENT.VSL.INC

or from The OgdenNewsPartner TheGoogle's preferred & ***non obfuscated by TheWVserver-arm !!! *** shortie --

goo.gl/vco2yF

Either way - whatever works 4 U Bloggos --

>>>>BREAKING>NEWZ>>>

goo.gl/PE2T5W

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phahn50

Apr-24-14 10:47 PM

The national debt is coming down faster than people thought possible. It will soon be at a reasonable level thanks to the Obama administration's sensible policies. This is a dumb thoughtless editorial.

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Concussion

Apr-25-14 9:01 AM

This editorial was written by some ham-fisted partisan hack. Businessweek is reporting (simulaneously) that the budget deficit as a % GDP fell from 10.4 percent in 2009 to 6.7 percent in 2012, and it's on track to get down to 3.7 percent in 2015.

Indeed the Debt is growing, but it is growing at a slower rate. What was Mitt's idea of shrinking the deficit? Eliminating PBS? ACORN? or Planned Parenthood? That's gotta be worth almost a billion or so right there! PROBLEM SOLVED!

I would be ashamed to print such blatent lies. I fear shame has died out a long time ago around these parts.

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ITprober

Apr-25-14 10:24 AM

When it is bad news on the right (Bush's fault), the Left crows. When it is bad news on the left, the Left screams LIES! Lemme clue you in: Bush was NOT a conservative and spent like a sailor in Chicago (i.e.: Great Lakes Training Center, when the Seamen and Seawomen go on leave, they spend and drink and do other things in a hedonistic fashion). Got it? Obama is FROM Chicago. Ok? (Falling down drunk crawling out of the Rock Bottom Blues Lounge.....

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wondering

Apr-25-14 10:26 AM

Banned is on target, somewhat anyway. Unemployment is much the problem for our economy than the deficit.

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wondering

Apr-25-14 10:30 AM

"When it is bad news on the right (Bush's fault), the Left crows. When it is bad news on the left, the Left screams LIES!"

Agreed, and the right does exactly the same thing. Both represent the oligarchy that really rules this country. Hint - the oligarchy is not made up of immigrants, teachers, union members, veterans or any of the other groups scapegoated by austerity hysteric politicians.

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Concussion

Apr-25-14 10:32 AM

You want action? Suspend Bush's tax cuts, cut defense 5% A YEAR until we have "0" deficit. Bring back the Glass Steagal act.

Unfortunately with high unemployment and paltry economic growth we without these revisions, we won't see recovery for a long long time if ever.

I'm starting to think our economic masters want it that way.

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ITprober

Apr-25-14 10:44 AM

I think we can all agree that Obama has spent this country into shackles and chains for the next 40 years.

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Concussion

Apr-25-14 11:15 AM

I think you are a fool if you believe that, ITProber. Of course that's already been proven.

The deficit has DECREASED every. single. year. Obama has been president.

The deficit will be at a 5-year-low this year.

Anyway, I know you are arithmetically challenged so I'll just say, even if your asnine comment was true, Why did House Republicans let the Treasury borrow this money, they shouldn't have approved the spending?

Maybe you could go back to the feeble argument that obama is a do-nothing, empty suit who, single-handedly, is ruining the world? Them again, maybe you should go back to basic civics class and learn how govt. appropriations work?

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EsoxSavant

Apr-25-14 11:44 AM

The executive doesn't decide spending. Congress does. That is why the debt limit is so stupid. In a corporation, debt issues are controlled by the board while most spending decisions are controlled by management, two separate entities. It makes sense there. But in this case the debt limit and spending decisions are made by the same body, congress.

Congress is telling the government "pay for all this stuff with this much money, but you can't borrow anything". The executive only has the ability to veto their decisions, it can make any of its own.

This editorial has Obama the sole person with the purse-strings and that is false.

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ITprober

Apr-25-14 12:27 PM

Ohhhhh Cuncussssion..... You have been hit in the head too many times... Oh i know! You read textbooks and depend solely on the definitions listed in those textbooks! Wow What a concept! Never relating to the real political landscape, but theorizing solely on a definition! Great augment! Maybe THATS why none of you bookworm page eaters can never get out of your Mom's basement! I call you guys Sheldonites! ROF****!

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ITprober

Apr-25-14 12:29 PM

That is, unless the Lefties on here are so caught up in the little semantics of things, that they cannot see beyond their beards and overgrown mustaches, to reach for that doob.

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ITprober

Apr-25-14 12:35 PM

We WERE talking about the National Debt, not the Deficit... What's the difference between the U.S. deficit and the national debt? The national debt represents the total amount of money that the federal government has borrowed to cover its annual budget deficits. As of March 2013, the national debt stood at $16.7 trillion [source: Dept. of the Treasury]. Technically the U.S. doesn't owe that entire amount to its creditors. Around $4.8 trillion is held by various government trust funds, so only $11.9 trillion is considered debt held by the public. The deficit is the difference between the money Government takes in, called receipts, and what the Government spends, called outlays, each year. Receipts include the money the Government takes in from income, excise and social insurance taxes as well as fees and other income. Outlays include all Federal spending including social security and Medicare benefits along with all other spending ranging from medical research to interest payments.

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ITprober

Apr-25-14 12:35 PM

When there is a deficit, Treasury must borrow the money needed for the government to pay its bills.

We borrow the money by selling Treasury securities like T-bills, notes, Treasury Inflation-Protected securities and savings bonds to the public. Additionally, the Government Trust Funds are required by law to invest accumulated surpluses in Treasury securities. The Treasury securities issued to the public and to the Government Trust Funds (intragovernmental holdings) then become part of the total debt.

One way to think about the debt is as accumulated deficits. For information concerning the deficit, visit the Financial Management Service website to view the Monthly Treasury Statement of Receipts and Outlays of the United States Government.

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ITprober

Apr-25-14 12:39 PM

Don Corleone: YOU CAN ACT LIKE A MAN AND NOT A SHELDONITE!

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wondering

Apr-25-14 1:31 PM

Prober, you make more references to pot, doobs etc. than all the other posters here together. Are you still suffering withdrawal, somebody sell you a bad bag once or is it just envy?

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Concussion

Apr-25-14 1:37 PM

Oh, don't mind prober'...the world is quickly changing around him and he's unwilling (or unable) to change with it.

he knows not of what he speaks, for his ideals are antiquated and out of touch with the reality which is today.

In fact, this is a similar problem that muslim extremists have. The world is ever changing, leaving them behind. The only way to validate their existence is to throw a tantrum.

The only difference is Prober' bangs on his keyboard thinking it will make a difference, extremists blow stuff up thinking it will make a difference.

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ITprober

Apr-25-14 1:56 PM

Can't take it can ya cunnnnnncusssssion..... and wunderboy? did your supppppppplier not show up on Broadway today? You guyz are the extreme nut cases, not normal people like *I*. (snicker... )did your mother have you checked for being craaaazy?

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ITprober

Apr-25-14 1:56 PM

As for the world changing, best thank your Lord and Master for that.

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