007
Charter Member
Sure he did...Just wishful thinking on your part!So we are paying $383 billion/year on the Pre-Obama GOP National Debt of Reagan, Bush I, and Bush II and $47 billion/year on the Obama debt.This is without actually paying off any of the debt, which we have never done in living memory. But we can't avoid paying the interest on that debt, every year.
From the Statistical Abstract of the United States:
Year . . . . . . Interest paid on National Debt
2009 . . . . . . $383 billion
2010 . . . . . . . 414 billion
2011 . . . . . . . 430 billion
The chart only goes to 2011. It is a bit higher in 2012, 2013 and 2014.
Actually, it's a bit lower for 2012 and 2013..
2014 $430,812,121,372.05
2013 $415,688,781,248.40
2012 $359,796,008,919.49
Probably should have raised taxes to cover the bills, maybe spent less and grown the economy more? Yep.Which I pointed out in the OP, and the liberal you're quoting carefully cut out:The chart only goes to 2011. It is a bit higher in 2012, 2013 and 2014.
But if the trend continues as it has, we're probably paying up to $480 billon per year by now. And if interest rates rise, it could quickly become $500B, $600B or more. Every year.
Obama did raise the taxes, but he spent more and put so many regulations in effect economic growth was lowered.
Actually for the millionth time... Obama Reduced Spending...