President Barack Obama. (AP Photo/Pablo Martinez Monsivais)
(CNSNews.com) – If the federal budget released byPresident Barack Obama today is implemented, it will double the national debt over the next 10 years. The current national debt is $13.56 trillion (end of FY 2010). By the end of 2021, that debt would rise to $26.3 trillion under the White House budget.
The figures reflect the effects of Obama’s fiscal year 2012 budget priorities, particularly a federal deficit that never falls below $500 billion in any year between 2010 and 2021.
The national debt – both debt held by the public and debt held by “government accounts” (the Social Security trust fund chief among them) – was $13.56 trillion on Sept. 30. 2010, the end of fiscal year 2010. (The national debt today, Deb. 14, 2011, is $14.08 trillion.)
In 2021, the national debt will have risen to $26.3 trillion, increasing by $1 trillion every year until 2021. Obama’s budget does not contain any plans for balancing the federal budget or reducing the national debt.
(The national debt figures used by the Obama administration are on p. 203 of the budget, Table S-14, released today. )
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Attorney Jason Robb is the owner of Robb Law Firm, PLLC. He is licensed in the state of Arkansas, Eastern and Western Districts of Arkansas for the U.S. District Courts, and the Eighth Circuit Court of Appeals. Member of the Boone-Newon County Bar Association and Arkansas Bar Association. He is the father to 5 children, and reside with his beautiful wife, Amanda, and his children outside of Harrison, AR in the lovely Ozark Mountains. Attorney Robb is dedicated to his Lord and Savior Jesus Christ, his beloved country, and his European heritage and culture that he will fight to protect and secure. You can hear attorney Jason Robb on his weekly internet radio program cross-examine that is aired every Thursday on www.whiteprideradio.com.