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hey oldtimer care to comment???

hopalong

Well-known member
Chart - Deficit 2012 CBS
(CBS News) The National Debt has now increased more during President Obama's three years and two months in office than it did during 8 years of the George W. Bush presidency.


The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office.


The latest posting from the Bureau of Public Debt at the Treasury Department shows the National Debt now stands at $15.566 trillion. It was $10.626 trillion on President Bush's last day in office, which coincided with President Obama's first day.


The National Debt also now exceeds 100% of the nation's Gross Domestic Product, the total value of goods and services.


Mr. Obama has been quick to blame his predecessor for the soaring Debt, saying Mr. Bush paid for two wars and a Medicare prescription drug program with borrowed funds.


The federal budget sent to Congress last month by Mr. Obama, projects the National Debt will continue to rise as far as the eye can see. The budget shows the Debt hitting $16.3 trillion in 2012, $17.5 trillion in 2013 and $25.9 trillion in 2022.


Federal budget records show the National Debt once topped 121% of GDP at the end of World War II. The Debt that year, 1946, was, by today's standards, a mere $270 billion dollars.


Mr. Obama doesn't mention the National Debt much, though he does want to be seen trying to reduce the annual budget deficit, though it's topped a trillion dollars for four years now.


As part of his "Win the Future" program, Mr. Obama called for "taking responsibility for our deficits, by cutting wasteful, excessive spending wherever we find it."


His latest budget projects a $1.3 trillion deficit this year declining to $901 billion in 2012, and then annual deficits in the range of $500 billion to $700 billion in the 10 years to come.


If Mr. Obama wins re-election, and his budget projections prove accurate, the National Debt will top $20 trillion in 2016, the final year of his second term. That would mean the Debt increased by 87 percent, or $9.34 trillion, during his two terms.

© 2012 CBS Interactive Inc. All Rights Reserved.
 

Steve

Well-known member
let me eliminate some of the common liberal answers..


it was Bush's fault

it was Bush's wars

it was Bush's budget

and if Obama wasn't held hostage by the party of NO in the first two years in office he would have passed a balanced budget..

while none are a reason to spend like a madman,.. they are the common liberal excuses ..
 
A

Anonymous

Guest
Steve said:
it was Bush's fault

it was Bush's wars

it was Bush's budget

You got a good share of it correct Steve-- much of the rest of the cost came from working to try and fix/alleviate the Bush Bust...

Thanks
 

Steve

Well-known member
It has now gone up $4.939 trillion since President Obama took office.

His latest budget projects a $1.3 trillion deficit this year declining to $901 billion in 2012, and then annual deficits in the range of $500 billion to $700 billion in the 10 years to come.

well OT care to take a bet..

I would be willing to bet that the Obama budgets deficits do not get under a trillion for the next four years..
 

hopalong

Well-known member
Oldtimer said:
Steve said:
it was Bush's fault

it was Bush's wars

it was Bush's budget

You got a good share of it correct Steve-- much of the rest of the cost came from working to try and fix/alleviate the Bush Bust...

Thanks


To bad the lobotamy failed for you oldtimer,,,,,,,WE know you said you went in for cateract surgery but it must have been a failed lobotamy becuse you brain still does not function...

You need to do some research as to what EXPERTS say,,(you do not fall into the catagory of expert,,,or even informed)))))
No one says Bush is innocent of increasing the deficit...BUT he is not totally at fault,,,YOU just can't admit that!!!!!!
:roll: :roll: :roll:
 

Steve

Well-known member
http://home.adelphi.edu/sbloch/deficits.html

one of the most "telling" charts I have seen... I sure miss Clinton and the republicans.. :? (well I miss the republicans controlling both houses).. because even with a liberal president.. when the republicans controlled the houses.. debt declined..

if a person objectively looks at the history of our debt.. the war years,.. and then looks at the last year of the republican control under Bush,.. it shows the debt was declining until the democrats took over the leadership.

then it exploded.. only to nearly double again under Barack and the blues..



Barack aided by the democratic houses has by far been the worst ever..
 

gmacbeef

Well-known member
Oldtimer said:
Steve said:
it was Bush's fault

it was Bush's wars

it was Bush's budget

You got a good share of it correct Steve-- much of the rest of the cost came from working to try and fix/alleviate the Bush Bust...

Thanks

You mean the"Democrat Disaster " Oltimer ? 2007-2008 ??? Because THAT'S when this really all began. With your man Oblamea in the Senate.
 
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