{"id":22113,"date":"2016-11-07T19:57:17","date_gmt":"2016-11-08T00:57:17","guid":{"rendered":"http:\/\/olduvai.ca\/?p=22113"},"modified":"2016-11-07T19:57:17","modified_gmt":"2016-11-08T00:57:17","slug":"4-year-proposition-next-president-has-to-contend-with-obamas-massive-debt-burden-at-epic-turning-point","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=22113","title":{"rendered":"4 Year Proposition? – Next President Has To Contend With Obama’s Massive Debt Burden At “Epic Turning Point”"},"content":{"rendered":"

4 Year Proposition? – Next President Has To Contend With Obama’s Massive Debt Burden At “Epic Turning Point”<\/a><\/h3>\n
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Whoever wins the 2016 presidential election tomorrow night could be in for a rough 4 years in the White House courtesy of the gigantic debt burden amassed by Obama over the previous 8 years.\u00a0 While an accommodative monetary policy, including seemingly unlimited treasury buying by the Fed and foreign governments, has suppressed the budget impact of Obama’s ballooning federal debt balance, as Ed Yardeni told\u00a0Bloomberg<\/a>, “one shudders to think what would happen if rates actually ever did go back to normal.\u201d<\/strong><\/div>\n
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\u201cWe\u2019ve really got ourselves into a pickle here,\u201d<\/strong>\u00a0said Edward Yardeni, president of Yardeni Research Inc. in New York, who\u2019s been following the bond market since the 1970s.\u00a0\u201cAll these years we\u2019ve been kicking the can down the road, and suddenly we\u2019re seeing a brick wall.\u201d<\/strong><\/div>\n

\u201cThere\u2019s been so much borrowing going on that\u2019s been enabled by extremely low interest rates,\u00a0one shudders to think what would happen if rates actually ever did go back to normal,\u201d<\/strong>\u00a0Yardeni said.\u00a0\u201cThe impact on the interest expense would be significant, and could really bring deficit concerns back to the fore.\u201d<\/strong><\/p><\/blockquote>\n

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As a report published by the\u00a0Congressional Budget Office<\/a>\u00a0today points out, nearly 60% of the federal budget is spent on entitlements and interest payments on public debt.\u00a0 While the public debt balance has increased every single year of Obama’s Presidency, declining rates have largely offset the budget impact.<\/div>\n
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Outlays for the three largest entitlement programs\u2014Social Security, Medicare, and Medicaid\u2014rose by $29 billion (or 3 percent), $27 billion (or 5 percent), and $19 billion (or 5 percent), respectively. Spending for\u00a0Medicaid grew largely because of new enrollees added through expansions of coverage authorized by the Affordable Care Act.\u00a0<\/strong>With that growth,\u00a0Medicaid spending has risen by almost 40 percent in the past three years.<\/strong><\/div>\n<\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/section>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

4 Year Proposition? – Next President Has To Contend With Obama’s Massive Debt Burden At “Epic Turning Point” Whoever wins the 2016 presidential election tomorrow night could be in for a rough 4 years in the White House courtesy of the gigantic debt burden amassed by Obama over the previous 8 years.\u00a0 While an accommodative […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[83,195,14517,584,1576,12380],"class_list":["post-22113","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bloomberg","tag-debt","tag-ed-yearned","tag-obama","tag-us-debt","tag-us-presidential-election"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22113"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22113\/revisions"}],"predecessor-version":[{"id":22114,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22113\/revisions\/22114"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}