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[[File:Obamunismdeficts.jpg|thumb|241px|right|Cummulative [[Obamunism]] deficits.<br>  ''Source: [[Congressional Budget Office]]''.]]

[[File:Obamunismdeficts.jpg|thumb|241px|right|Cummulative [[Obamunism]] deficits.<br>  ''Source: [[Congressional Budget Office]]''.]]

The '''Obama administration deficit spending''' is government deficit spending which is occurring at unprecedented levels.  The [[Obama administration fiscal policy]] is burying Americans under a mountain of debt. Persistent deficit financing, along with tax increases in hard economic times, are known job killers that stifle growth and choke job creation, even according to [[Keynesian]] economic theory.<br><br>

The '''Obama administration deficit spending''' is government deficit spending which is occurred at unprecedented levels.  The [[Obama administration fiscal policy]] is burying Americans under a mountain of debt. Persistent deficit financing, along with tax increases in hard economic times, are known job killers that stifle growth and choke job creation, even according to [[Keynesian]] economic theory.<br><br>

[[File:Obama deficit.JPG|thumb|241px|right|''Source: White House Office of Management and Budget'']]

[[File:Obama deficit.JPG|thumb|241px|right|''Source: White House Office of Management and Budget'']]

==Obamanomics==

==Obamanomics==

:''Main article:'' [[Obamanomics]]

:''Main article:'' [[Obamanomics]]

The Obama [[Federal budget deficit|deficit]]s are unquestionably the largest on record and represents an explosion of debt owed to foreign investors -- [[capital]] that must be exported in the future. The most recent deficit under President Obama for the year ending September 30, 2010 has been reported by the administration as $1,290 billion dollars (or $1.29 trillion).

The Obama [[Federal budget deficit|deficit]]s were unquestionably the largest on record and represented an explosion of debt owed to foreign investors -- [[capital]] that must be exported in the future. The deficit under President Obama for the year ending September 30, 2011 was reported by the administration as $1,300 billion dollars (or $1.3 trillion).

[[File:Obama deficits 2009-2010.JPG|thumb|241px|right|Incease in Public Debt]]

[[File:Obama deficits 2009-2010.JPG|thumb|241px|right|Incease in Public Debt]]

President Obama's record deficits include the $787 billion failed [[Economic stimulus]], the  $634 billion "down payment"<ref>http://www.washingtonpost.com/wp-dyn/content/article/2009/02/25/AR2009022504066.html</ref> on so-called [[Obamacare|healthcare reform]], and the $80 billion<ref>http://www.time.com/time/business/article/0,8599,1897321,00.html</ref> [[UAW]] [[bailout]], which added to [[President George W. Bush]]'s proposed  $700 billion deficit<ref>http://www.washingtonpost.com/wp-dyn/content/graphic/2009/03/21/GR2009032100104.html</ref> in 2008. [[President Obama]]'s claim  "I had a $1.3 trillion deficit wrapped in a bow, waiting for me at the Oval Office"<ref>http://www.whitehouse.gov/the-press-office/2010/09/20/remarks-president-cnbc-town-hall-discussion-jobs</ref> is unsupported by the facts.

President Obama's record deficits stemmed from the $787 billion failed [[Economic stimulus]], "hundreds of billions"<ref>http://www.washingtonpost.com/wp-dyn/content/article/2009/02/25/AR2009022504066.html</ref> on so-called [[Obamacare|healthcare reform]], and the $80 billion<ref>http://www.time.com/time/business/article/0,8599,1897321,00.html</ref> [[UAW]] [[bailout]], which added to [[President George W. Bush]]'s proposed  $700 billion deficit<ref>http://www.washingtonpost.com/wp-dyn/content/graphic/2009/03/21/GR2009032100104.html</ref> in 2008. [[President Obama]]'s claim  "I had a $1.3 trillion deficit wrapped in a bow, waiting for me at the Oval Office"<ref>http://www.whitehouse.gov/the-press-office/2010/09/20/remarks-president-cnbc-town-hall-discussion-jobs</ref> is unsupported by the facts.

==Reliance on foreign investors==

==Reliance on foreign investors==

[[File:Foreign debt.JPG|thumb|241px|left|Federal Debt held by foreign and international investors.]]

[[File:Foreign debt.JPG|thumb|241px|left|Federal Debt held by foreign and international investors.]]

Approximately one-third of the [[National debt]], or virtually all that [[President Obama]] and [[Congress]]ional [[Democrat]]s added to the existing debt, is now held by foreign investors. Two failed Stimulus packages in the past three years from the Democratic Congress were an incredible waste of resources for what the President later admitted were non-existent "shovel ready" jobs at a time they were needed for the private sector to create jobs. Rather, a large foreign debt was created which must be repaid before any benefit ever trickle's down to working families.

More than $6 trillion<ref>https://research.stlouisfed.org/fred2/series/FDHBFIN</ref> in [[National debt|debt]] is held by foreign investors. Two failed Stimulus packages in the past three years from the Democratic Congress were an incredible waste of resources for what the President later admitted were non-existent "shovel ready" jobs at a time they were needed for the private sector to create jobs. Rather, a large foreign debt was created which must be repaid before any benefit ever trickle's down to working families.

[[File:Hunger in America.jpg|right|125px|thumb|"'''''There’s no such thing as shovel-ready projects'''''," President Obama later admitted as Unemployment & Debt spiraled out of control. <ref>http://www.cbsnews.com/8301-503544_162-20019468-503544.html</ref> ]]

[[File:Hunger in America.jpg|right|125px|thumb|"'''''There’s no such thing as shovel-ready projects'''''," President Obama later admitted as Unemployment & Debt spiraled out of control. <ref>http://www.cbsnews.com/8301-503544_162-20019468-503544.html</ref> ]]

==Downgrade of U.S. credit worthiness==

==Downgrade of U.S. credit worthiness==

The Chinese credit rating agency, Dagong Global, downgraded the long term sovereign credit rating of the [[United States]] from “AA” to “A+“, which reflects the U.S. deteriorating debt repayment capability. The agency cited,

The Chinese credit rating agency, Dagong Global, downgraded the long term sovereign credit rating of the [[United States]] from “AAA” to “AA” in 2010<ref>http://www.telegraph.co.uk/finance/china-business/7886077/Chinese-rating-agency-strips-Western-nations-of-AAA-status.html</ref> and further downgraded it to “A-” in 2015<ref>https://www.rt.com/business/229219-china-russia-rating-politicized/</ref>, which reflects the U.S. deteriorating debt repayment capability.

:''[http://www.dagongcredit.com/dagongweb/uf/USARatingReport.pdf serious defects in the United States economic development and management model] will lead to the long-term recession of its national economy...Subject to the economic development model of the United States, the credit crisis is far from over, and the U.S. economy will be in a long-term recession…

The ''[[New York Times]]'' reports officials from [[China]] to [[Germany]] to [[Brazil]] suggest " Washington's addiction to debt has greatly diminished its credibility." Jeffrey E. Garten of the Yale School of Management remarked, "the U.S. is reinforcing views in [[France]] and China, among others, that the [[Obama administration monetary policy|entire monetary system]] is a political toy of a dysfunctional U.S. political system."<ref>http://www.nytimes.com/2010/11/10/business/global/10global.html?_r=1&ref=group_of_20</ref>

The ''[[New York Times]]'' reports officials from [[China]] to [[Germany]] to [[Brazil]] suggest " Washington's addiction to debt has greatly diminished its credibility." Jeffrey E. Garten of the Yale School of Management remarked, "the U.S. is reinforcing views in [[France]] and China, among others, that the [[Obama administration monetary policy|entire monetary system]] is a political toy of a dysfunctional U.S. political system."<ref>http://www.nytimes.com/2010/11/10/business/global/10global.html?_r=1&ref=group_of_20</ref>