Federal Debt Up $7 Trillion Under Obama

[Dont Taz Me Bro]

true .. we're still paying interest on the debt for every POTUS, and will continue to do so until a magical Republican comes along and wipes the debt slate clean.

POOF !

Until Obama came around Republican presidents ran up the bulk of our debt. Neither party has been fiscally responsible in the last 30 years.

 

[Avatar4321]

true .. we're still paying interest on the debt for every POTUS, and will continue to do so until a magical Republican comes along and wipes the debt slate clean.

POOF !

Until Obama came around Republican presidents ran up the bulk of our debt. Neither party has been fiscally responsible in the last 30 years.

That's Bush's fault too

 

[The Rabbi]

true .. we're still paying interest on the debt for every POTUS, and will continue to do so until a magical Republican comes along and wipes the debt slate clean.

POOF !

Until Obama came around Republican presidents ran up the bulk of our debt. Neither party has been fiscally responsible in the last 30 years.

That's Bush's fault too

Presidents dont run up debt, although they cheerlead for it.
Which party has ever proposed cutting spending? Which party swears every time that children will be starving in the streets if we do?
Granted both of them are at fault as both end up voting to kick the can down the road. But one is culpable, the other bears the brunt of the blame.

 

[peach174]

It's only your kids' futures being mortgaged. Fuck them. As long as you get everything you think you're entitled to today.

The total federal debt of the U.S. government has now increased more than $7 trillion during the slightly more than five and a half years Barack Obama has been president.

That is more than the debt increased under all U.S. presidents from George Washington through Bill Clinton combined, and it is more debt than was accumulated in the first 227 years of this nation's existence--from 1776 through 2003.

$7,060,259,674,497.51--Federal Debt Up $7 Trillion Under Obama | CNS News

So? It's all imaginary money anyway. What difference does it make if the debt's 1 trillion or 100 trillion? Can never pay it back regardless. Argueing how much it is ignores this fact.

Of course it can be paid back.
We paid 2.9 Trillion in taxes so yes it can be paid down.

 

[BlindBoo]

Don't worry. It's Bush's fault. There problem solved.

Doesn't the House allocate spending?

Obama said he'd cut the deficit in half. Are you just conveniently forgetting that?

The US Government borrows, at Banker Interest Rates, 100% of their operating expenses every month. They take in 1 Tax Dollar, They Borrow 1 Dollar from the Fed.

What would you Liberals say if the House were to not borrow anymore?

You'd scream Racism that's what. "The House doesn't like a Black Man as the President!"

Besides, we both know Americans care more about Sports and Gossip than doing what's right. So the whole system MUST CRASH before it there is ANY chance of it being fixed.

The actual liabilities of the federal government—including Social Security, Medicare, and federal employees' future retirement benefits—already exceed $86.8 trillion, or 550% of GDP.

Cox and Archer: Why $16 Trillion Only Hints at the True U.S. Debt - WSJ

He did cut the deficit in half, technically. He just didn't expect to be handed a 1.4 trillion dollar deficit.

US Federal Deficit Definition - plus charts and analysis

 

[Siete]

you're confusing debt and deficit ... take a look at the DEFICIT.
U.S. Deficit Cut by Almost One-Third to $492 Billion: CBO - Bloomberg

Yes I know there is a Yearly Budget Deficit and a National Debt.

There are also yearly unfunded mandates that the Gubmint MUST pay by Law.

In order to do that they MUST BORROW 100% of their Operating Expenses ON TOP OF WHAT THEY TAKE IN IN TAXES!

Whether it's a Household or a Government, you will NEVER pay off ANY Debt if you are CONTINUALLY BORROWING just to pay MONTHLY OPERATING EXPENSES!

you clearly stated Obama claimed he would cut the DEFICIT in half when the discussion was about the DEBT .... so Obama has cut the deficit 1/3rd.

Next !

 

[candycorn]

Don't worry. It's Bush's fault. There problem solved.

Doesn't the House allocate spending?

Obama said he'd cut the deficit in half. Are you just conveniently forgetting that?

The US Government borrows, at Banker Interest Rates, 100% of their operating expenses every month. They take in 1 Tax Dollar, They Borrow 1 Dollar from the Fed.

What would you Liberals say if the House were to not borrow anymore?

You'd scream Racism that's what. "The House doesn't like a Black Man as the President!"

Besides, we both know Americans care more about Sports and Gossip than doing what's right. So the whole system MUST CRASH before it there is ANY chance of it being fixed.

The actual liabilities of the federal government—including Social Security, Medicare, and federal employees' future retirement benefits—already exceed $86.8 trillion, or 550% of GDP.

Cox and Archer: Why $16 Trillion Only Hints at the True U.S. Debt - WSJ

Obama can not spend significant money that is not approved by Congress.

Fact.

 

[candycorn]

Don't worry. It's Bush's fault.

There problem solved.

Doesn't the House allocate spending?

Sort of.
Who controlled the House from 2006 to 2010? What happened when the GOP House didnt want to increase spending any more? Didnt Obama and the Democrats engineer the "Tea Party Government Shutdown" and didnt Obama issue orders to close open air parks? Yes, that did happen.
Your ignorance adn stupidity are cloying.

Obama wasn't in Office in 2006 Shirley.
You sound pretty ignorant...then again, we're not talking about Republican penises--the only topic on which you seem to be an expert.

 

[candycorn]

Don't worry. It's Bush's fault.

There problem solved.

Doesn't the House allocate spending?

Yes, they are just as complicit.

Of course, if I were president and Congress sent me budgets with $1 trillion deficits I'd veto them and say start over.

Yes..

Been my case all along.

Both parties are out to lunch fiscally and Presidents can only do so much about that in either direction.

What a President can directly effect is the make-up of federal courts. Center-left jurists are best in my view.

 

[Dont Taz Me Bro]

Until Obama came around Republican presidents ran up the bulk of our debt. Neither party has been fiscally responsible in the last 30 years.

That's Bush's fault too

Presidents dont run up debt, although they cheerlead for it.
Which party has ever proposed cutting spending? Which party swears every time that children will be starving in the streets if we do?
Granted both of them are at fault as both end up voting to kick the can down the road. But one is culpable, the other bears the brunt of the blame.

Republicans talk a good deal about cutting spending, but they aren't serious about it. Where were all the spending cuts between 2001 and 2007 when they held both houses of Congress and White House?

 

[candycorn]

That's Bush's fault too

Presidents dont run up debt, although they cheerlead for it.
Which party has ever proposed cutting spending? Which party swears every time that children will be starving in the streets if we do?
Granted both of them are at fault as both end up voting to kick the can down the road. But one is culpable, the other bears the brunt of the blame.

Republicans talk a good deal about cutting spending, but they aren't serious about it. Where were all the spending cuts between 2001 and 2007 when they held both houses of Congress and White House?

Blaming Saddam Hussein and playing the 9/11 card starts in 5...4...3...2...

 

[JimH52]

He had to spend to dig us out of the hole that Bush Junior dug for the country. W should have been named Hoover Jr, instead of Bush Jr.

 

[g5000]

That is more than the debt increased under all U.S. presidents from George Washington through Bill Clinton combined...

I can't help but notice they stopped at Clinton.

 

[rightwinger]

Deficits don't matter

Haven't we learned that?

 

[NoTeaPartyPleez]

It's what happens when you cut taxes and use the credit card to spend like a drunken sailor on a war of choice.

Make that TWO wars of choice and add the mortgage banks sucking trillions out though the housing crisis and crashing the economy in the first place.

Why do these idiots think that the shit hit the fan in 2009? Are they that stupid?

 

[rightwinger]

Deficits didn't matter under Reagan, didn't matter under Bush....surely dont matter under Obama

Why should anyone care?

 

[NoTeaPartyPleez]

That is more than the debt increased under all U.S. presidents from George Washington through Bill Clinton combined...

I can't help but notice they stopped at Clinton.

Bush actually stood before Congress in 2002 and told them the war in Iraq would only cost around $50B:

THREATS AND RESPONSES: THE COST; WHITE HOUSE CUTS ESTIMATE OF COST OF WAR WITH IRAQ
By ELISABETH BUMILLER
Published: December 31, 2002

"""The administration's top budget official estimated today that the cost of a war with Iraq could be in the range of $50 billion to $60 billion, a figure that is well below earlier estimates from White House officials."""

So where were these idiots while this was happening?

Study: Iraq, Afghan war costs to top $4 trillion
Study: Iraq, Afghan war costs to top $4 trillion - The Washington Post

 

[kaz]

He had to spend to dig us out of the hole that Bush Junior dug for the country. W should have been named Hoover Jr, instead of Bush Jr.

Republicans are racists! No wait, strike that, we're going with it's W's fault this time...

 

[kaz]

Deficits didn't matter under Reagan, didn't matter under Bush....surely dont matter under Obama

Why should anyone care?

LOL, what do those all have in common? Democratic congresses...

 

[rightwinger]

Deficits didn't matter under Reagan, didn't matter under Bush....surely dont matter under Obama

Why should anyone care?

LOL, what do those all have in common? Democratic congresses...

Who cares about debt?

It doesn't matter when Republicans are President, who cares if Obama does it?