Obama To Leave $20 Trillion Debt Crisis For Clinton Or Trump

Monday, August 29, 2016
By Paul Martin

By: GoldCore
GoldSeek.com
Monday, 29 August 2016

President Obama is set to leave a massive near $20 trillion debt crisis for his successor – be that Hillary Clinton or Donald Trump.

The U.S. national debt reached $19.5 trillion last week and has been increasing by roughly $1 trillion a year during his Presidency and during the so called “recovery” as the U.S. government continues to spend money like a drunken sailor.

During Obama’s presidency, the total national debt has risen from $10.6 trillion to nearly $20 trillion – see Debt Clock here. There is also the not insignificant matter of the between $100 trillion and $150 trillion in unfunded liabilities – for medicare, medicaid and social security.

The U.S., like the EU and most western nations, is “kicking the can down the road.” Consequently, a U.S. and global debt crisis looks likely during the term of the next President if not sooner. The Washington Times reported last week:

With federal budget deficits on the rise again, the White House Wednesday officially kicked the problem down the road to the next president.

Asked about Congressional Budget Office projections that the federal deficit will spike 33 percent this year, White House press secretary Josh Earnest cited reasons including an aging population and Republican-sponsored tax cuts.

Then he added, “There’s certainly a lot of money that can be saved, and this will be a challenge that the next president and the next Congress will have to do.”

The Rest…HERE

One Response to “Obama To Leave $20 Trillion Debt Crisis For Clinton Or Trump”

  1. The proper term is “congress” is going to leave… Shills are the only ones who blame one party or the other. Hegelian Dialectic.

    #2497460

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