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  • happygambler34 happygambler34 Dec 5, 2012 4:53 PM Flag

    Obama Reminiscing

    On July 3, 2008, Presidential candidate Obama said that adding $4 trillion in debt was "irresponsible" and "unpatriotic." Obama was referring to the $3.764 trillion that had been added to the national debt during the seven and one-half years Bush had been president. Obama of course got his facts wrong when he falsely claimed President Bush increased the national debt by $4 trillion "by his lonesome." When Speaker Pelosi took over Congress on January 3, 2007, the national debt was $8.7 trillion. So the Democrats must get some of the credit for one of the four trillion dollars candidate Obama tried to blame on Bush.

    Despite his promises to cut the deficit in half by the end of his "first" term, Obama has racked up the largest deficits in U.S. history:

    FY2009: The federal budget deficit was $1.413 trillion, the highest in U.S. history. ("Monthly Budget Review: November 2011," Congressional Budget Office, 11/7/11)
    FY2011: The federal budget deficit was $1.299 trillion, the second highest in U.S. history. ("Monthly Budget Review: November 2011," Congressional Budget Office, 11/7/11)
    FY2010: The federal budget deficit was $1.294 trillion, the third highest in U.S. history. ("Monthly Budget Review: November 2011," Congressional Budget Office, 11/7/11)
    The Congressional Budget Office projects that the deficit for fiscal year 2012 (which ends on September 30), will total $1.1 trillion, Obama’s fourth straight trillion dollar deficit. ("An Update to the Budget and Economic Outlook: Fiscal Years 2012 to 2022," Congressional Budget Office, 8/22/12)

    You shouldn't be shocked by Obama's failure to reduce the deficit in half by the end of his first term in office. He did warn us there would be "trillion-dollar deficits for years to come."

    It could have been even worse. According to the Washington Post's fact checker, every year President Obama has wanted to spend more money than Congress would allow.

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    • You shouldn't be shocked by Obama's failure to reduce the deficit in half by the end of his first term in office. He did warn us there would be "trillion-dollar deficits for years to come."

      It could have been even worse. According to the Washington Post's fact checker, every year President Obama has wanted to spend more money than Congress would allow.
      __________________________

      Armageddon It!

      The President proposes the budget for the government to the US Congress. Congress may change the budget, but it rarely appropriates more than what the President requests.[19]

      Economist Mike Kimel notes that the former Democratic Presidents (Bill Clinton, Jimmy Carter, Lyndon B. Johnson, John F. Kennedy, and Harry S. Truman) all reduced public debt as a share of GDP and CNN's Jack Cafferty and CBS's Mark Knoller have noted that the US national debt in nominal dollars has increased more rapidly under President Obama than under any other U.S. president, and that it had increased by $4 trillion since the beginning of his term of office, while the last four Republican Presidents (George W. Bush, George H. W. Bush, Ronald Reagan, and Gerald Ford) all oversaw an increase in the country's indebtedness.[20] Economic historian J. Bradford DeLong, former Clinton Treasury Department official, observes a contrast not so much between Republicans and Democrats, but between Democrats and "old-style Republicans (Eisenhower and Nixon)" on one hand (decreasing debt), and "new-style Republicans" on the other (increasing debt).[21][22] David Stockman, director of the Office of Management and Budget under President Ronald Reagan, as op-ed contributor to the New York Times, blamed the "ideological tax-cutters" of the Reagan administration for the increase of national debt during the 1980s.[23] Bruce Bartlett, former domestic policy adviser to President Ronald Reagan and Treasury official under President George H.W. Bush, attributes the increase in the national debt since the 1980s to the policy of "starve the beast".[24][25] While noting that George H.W. Bush's budget deal was one of the reasons for improvement in fiscal situation in 1990s and ultimately for budget surplus, Bartlett is highly critical of George W. Bush for creating budget deficits by reducing taxes and increasing spending.[26][27]

      cough, ahem:

      Ford (R 1974-1977) left office with US debt of $704 billion
      Carter (D 1977-1981) left office with a US debt of $994 billion. (41% increase from Ford)
      Reagan (R 1981-1989) left office with a US debt of $2,867 billion. (188% increase from Carter)
      Bush 1 (R 1989-1993) left office with US debt of $4,351 billion (52% increase from Reagan)
      Clinton (D 1993-2001) left office with a US debt of $5,769 (33% increase from Bush 1)
      Bush 2 (R 2001-2009) left office with a US debt of $10.4 trillion (81% increase from Clinton)
      Obama (D 2009-2017) has thus far increased the debt to $16.2 trillion (56% increase from Bush 2)

      Of course, deficits only matter when a Democrat is in the White House.
      Yet its worth mentioning that NOBODY WITH ANY BRAINS CARES ABOUT THE NATIONAL DEBT

      (haha whatever happened to Cheney's claim: 'Reagan proved deficits don't matter')

    • And now he's asking to be dictator (no debt ceiling, a "black" Amex [as it were]), and believes he can saddle the Republicans with any blame for bad things that happen whether or not there's fiscal cliff that's gone over.

      All the best dictators ask the first time.

    • FY2009: The federal budget deficit was $1.413 trillion, the highest in U.S. history. ("Monthly Budget Review: November 2011," Congressional Budget Office, 11/7/11)

      The FY2009 budget was passed MONTHS before Obama even took office, you fkuking retard. FY2009 started October 1, 2008, more than a month before the election and nearly FOUR months before Obama took office!! And Bush jacked the deficit way higher with all his emergency spending for TARP and other programs in the fall of 2008.

      Cumgobbler is such a pathetic liar. He will definitely burn in hel1.

 
MO
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