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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 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>

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.

 

 

[[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'']]

[[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.]]

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.

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 “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.

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.

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>

*[http://www.pgpf.org/ Peter G. Peterson Foundation] - collection of non-partisan articles and videos on America's growing debt problem

*[http://www.pgpf.org/ Peter G. Peterson Foundation] - collection of non-partisan articles and videos on America's growing debt problem

*[http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/ Bush Deficit vs. Obama Deficit in Pictures] - [[Heritage Foundation]], March 24th, 2009

*[http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/ Bush Deficit vs. Obama Deficit in Pictures] - [[Heritage Foundation]], March 24, 2009

*[http://blog.heritage.org/2009/04/20/obamas-spending-vs-obamas-spending-cuts-in-pictures/ Obama’s Spending vs Obama’s Spending Cuts — in Pictures] — Heritage Foundation — April 20, 2009

*[http://blog.heritage.org/2009/04/20/obamas-spending-vs-obamas-spending-cuts-in-pictures/ Obama’s Spending vs Obama’s Spending Cuts — in Pictures] — Heritage Foundation — April 20, 2009

*[http://www.rushlimbaugh.com/home/daily/site_042109/content/01125107.guest.html Obama Responded to Tea Parties with $100 Million in "Budget Cuts"] - [[Rush Limbaugh]] - April 21, 2009

*[http://www.rushlimbaugh.com/home/daily/site_042109/content/01125107.guest.html Obama Responded to Tea Parties with $100 Million in "Budget Cuts"] - [[Rush Limbaugh]] - April 21, 2009

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