It could get a lot worse

[dan_s]

When President Obama's first term began in January 2009, federal debt totaled $9.9 trillion, and just four short years later, it has topped $16.4 trillion, a 54% increase.

And instead of addressing the problem, the US government continues spending 40% more than it takes in.

The just passed legislation to avoid the "fiscal cliff" is a bad joke, producing another $10 trillion in debt over the next ten years. And that's in a wildly optimistic best case where interest rates remain at or near today's historic lows.

When Obama leaves office he will leave the U.S. saddled with over $22 Trillion in debt.

[Jacobpilot]

Dan,
on another subject, what is the new symbol for Petrob..?
JP

[prince_jake_33]

Petrobakken remains the same PBKEF It is being carried with a number until the petrobank transaction is complete according to Schwab. Schwab has to receive information from petrobakken according to an Schwab agent I talked to.

[dan_s]

PetroBakken is going to report very strong 4th quarter results. When the smoke clears I want to take a hard look at PetroBakken and Petrominerales.