Barack Hussein Obama borrowed about $10 trillion dollars to operate his U.S. Administration over eight years, 2008-2016. Barack Obama was the first President in U.S. history to borrow that much money. Excluding George W. Bush who responded to September 11, 2001 terror attacks, the second largest amount borrowed by a President was less than one-third: Democrat William Jefferson Clinton borrowed about $3 trillion dollars.
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Human Welfare
Benito Mussolini was Prime Minister of the Kingdom of Italy from 1922 to 1943. Italy wasn’t a modern Nation State until after Allied Powers, backed by The United States, achieved World War II victory in 1945. Ironically, Mussolini’s rise to power starting 1917 was backed by British forces. In fact, his first defeat in 1919 is attributed to his attempt at more Socialism.
Continue readingU.S. Debt and GDP Ratio
In The United States, Americans’ public debt crisis is always in the future. Normally routine, as recently as eight years or two presidential terms ago, Congress had an unprecedented debated over whether to raise government’s ability to borrow, the debt ceiling. There was a debt ceiling debate eight years before that too, in 2003.
