…we are growing our debt dramatically faster than we are growing our country—even when we include inflation. —The US’ debt $100 trillion of unfunded liabilities
The shear hypocrisy of Obama goes way back. In 2006, while serving his first term as a freshman U.S. senator from Illinois, Barack Obama made those remarks during a discussion in the U.S. Senate prior to the call for votes on raising the debt limit.
‘The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the US Government can not pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.’
(The full text of his remarks, on raising the debt limit, in the Senate on 16 March 2006 can be found here.)
Obama’s presidency will end with a little more than a $20 trillion dollar national debt. Unfunded liabilities has reached over $100 trillion at local, state, and federal levels.
This is a visual perspective of just $17 trillion and showing a visual of the unfunded $100 trillion debt.
The national debt grew the most dollar-wise during President Obama’s two terms. He will have added over $8 trillion, almost 70 percent increase, in eight years.