Obama did not create $5 trillion in new debt

[LilOlLady]

Obama did not create $5 trillion in new debt

Republican pundits love to say that the national debt has increased by $5 trillion because of President Obama. Factually, that statement is simply untrue. Let's examine the evidence

Of the alleged $5 trillion, $1.6 trillion is related to costs of the Iraq/Afghanistan Wars. These were costs George W. Bush intentionally hid from the budget, and that President Obama allowed to be calculated when he assumed office.

The overall point is simple: Obama, as president, authorized not one cent of that $1.6 trillion to be spent.

Over $1.4 trillion was spent on interest payments caused by the already standing debt

They say President Obama has spent too much, but 32% of the total amount they claim has been spent is a direct result of Republican presidential policies, and previous spending

It is not disputed that the national debt was $10 trillion before President Obama took office.

The interest that is paid on the debt today was created by the very same people who now are attempting to blame the cost of that interest on the president. Do not allow yourself to be fooled, the GOP is attempting to blame the president for something they caused.
Now our journey of $5 trillion has been twiddled down to $2 trillion.

Another piece of the puzzle is that the CBO projected because of the Bush Era Tax Cuts, our government lost over $1.6 trillion in projected revenue. Of course, these unpaid taxes were supposed to create jobs for the middle class. The tax cuts have been in place for over 10 years, one would think our nation would be swimming in jobs. Yet, friends, that is not the case

The overall premise of the argument has now been debunked, and the truth is quite clear; 88% of the debt which the GOP blames on President Obama was not created as a consequence of his policies.

GOP Debunked: Obama did not create $5 trillion in new debt - Detroit liberal | Examiner.com

 

[Dont Taz Me Bro]

Yes, he did.

Take your meds, shut up, and go to bed.

 

[S.J.]

I think I've heard everything now.

 

[westwall]

Lilollady needs to have her head examined..

 

[Lakhota]

Obama did not create $5 trillion in new debt

Correct. He did not.

 

[Zoom-boing]

costs George W. Bush intentionally hid from the budget

Obama's entire presidency has been hidden from the budget cause there ain't no freakin' budget. Leftist logic says "No budget? No problemo! We can't overspend cause we can't be held accountable cause ... there's no budget to 'overspend' on!"

This year the fed will reach an historic record of revenue.

Federal revenue will return to its pre-recession levels in 2013, according to projections from the Congressional Budget Office (CBO), setting a record for the most money the government has ever taken in.

In its latest Budget and Economic Update, the CBO forecasts that federal revenue will top $2.7 trillion in 2013, slightly higher than the $2.6 trillion the government collected in 2007, when the last recession officially began.

Government revenues had fallen by nearly $500 billion during the recession to $2.1 trillion in 2009, contributing to the $1.5 trillion deficit that year. However, federal revenues have been recovering since the recession ended in June 2009, and the CBO now projects that they will slightly eclipse their pre-recession peak.

In fact, the $2.7 trillion in revenue will be the most money the federal government has collected in history.

CBO: Federal government to rake in record revenue in 2013 (and it?s still not enough)

But Obama, Reid, Pelosi, et al are still carrying on and whining that it's just not enough, damn it. We. Need. MORE!!

Pssst, hey DC dolts: it's the spending, stupid.

But please do continue blaming Bush while turning a blind eye when Obama continues spending money we do not have.

 

[DiamondDave]

Then I guess Bush's spending gets blamed on Clinton for the things that passed during his term??

 

[GISMYS]

Imho!! Obama is the worst president in usa hisrory,he is clueless on the economy,military, abomination sexual perversion, evil of abortion, he has done great harm to the usa.

 

[Toddsterpatriot]

Obama did not create $5 trillion in new debt

Republican pundits love to say that the national debt has increased by $5 trillion because of President Obama. Factually, that statement is simply untrue. Let's examine the evidence

Of the alleged $5 trillion, $1.6 trillion is related to costs of the Iraq/Afghanistan Wars. These were costs George W. Bush intentionally hid from the budget, and that President Obama allowed to be calculated when he assumed office.

The overall point is simple: Obama, as president, authorized not one cent of that $1.6 trillion to be spent.

Over $1.4 trillion was spent on interest payments caused by the already standing debt

They say President Obama has spent too much, but 32% of the total amount they claim has been spent is a direct result of Republican presidential policies, and previous spending

It is not disputed that the national debt was $10 trillion before President Obama took office.

The interest that is paid on the debt today was created by the very same people who now are attempting to blame the cost of that interest on the president. Do not allow yourself to be fooled, the GOP is attempting to blame the president for something they caused.
Now our journey of $5 trillion has been twiddled down to $2 trillion.

Another piece of the puzzle is that the CBO projected because of the Bush Era Tax Cuts, our government lost over $1.6 trillion in projected revenue. Of course, these unpaid taxes were supposed to create jobs for the middle class. The tax cuts have been in place for over 10 years, one would think our nation would be swimming in jobs. Yet, friends, that is not the case

The overall premise of the argument has now been debunked, and the truth is quite clear; 88% of the debt which the GOP blames on President Obama was not created as a consequence of his policies.

GOP Debunked: Obama did not create $5 trillion in new debt - Detroit liberal | Examiner.com

These were costs George W. Bush intentionally hid from the budget

How do you hide spending from the budget?

Over $1.4 trillion was spent on interest payments

He should have cut that much spending then, instead of adding trillions more.

 

[Zoom-boing]

Obama did not create $5 trillion in new debt

Republican pundits love to say that the national debt has increased by $5 trillion because of President Obama. Factually, that statement is simply untrue. Let's examine the evidence

Of the alleged $5 trillion, $1.6 trillion is related to costs of the Iraq/Afghanistan Wars. These were costs George W. Bush intentionally hid from the budget, and that President Obama allowed to be calculated when he assumed office.

The overall point is simple: Obama, as president, authorized not one cent of that $1.6 trillion to be spent.

Over $1.4 trillion was spent on interest payments caused by the already standing debt

They say President Obama has spent too much, but 32% of the total amount they claim has been spent is a direct result of Republican presidential policies, and previous spending

It is not disputed that the national debt was $10 trillion before President Obama took office.

The interest that is paid on the debt today was created by the very same people who now are attempting to blame the cost of that interest on the president. Do not allow yourself to be fooled, the GOP is attempting to blame the president for something they caused.
Now our journey of $5 trillion has been twiddled down to $2 trillion.

Another piece of the puzzle is that the CBO projected because of the Bush Era Tax Cuts, our government lost over $1.6 trillion in projected revenue. Of course, these unpaid taxes were supposed to create jobs for the middle class. The tax cuts have been in place for over 10 years, one would think our nation would be swimming in jobs. Yet, friends, that is not the case

The overall premise of the argument has now been debunked, and the truth is quite clear; 88% of the debt which the GOP blames on President Obama was not created as a consequence of his policies.

GOP Debunked: Obama did not create $5 trillion in new debt - Detroit liberal | Examiner.com

These were costs George W. Bush intentionally hid from the budget

How do you hide spending from the budget?

Over $1.4 trillion was spent on interest payments

He should have cut that much spending then, instead of adding trillions more.

Ask Obama and the Dems, they know. You simply don't work within a budget.

 

[Stephanie]

man OH MAN

 

[Erand7899]

The OP is nothing more than fodder for the dumbed down core of the Democrat party.

 

[P@triot]

You're right - he added over $7 trillion to the debt.

It was over $9 trillion when he took office, it's now beyond $16 trillion. Ask someone to do the math for you....

 

[Book of Jeremiah]

You are correct. He didn't create 5 Trillion in new debt. He created SEVEN TRILLION in new debt. Do you think you could manage to let him know that Americans do indeed consider 17 Trillion in debt to be a "crisis"??? Thanks.

-Jeremiah

 

[Book of Jeremiah]

You're right - he added over $7 trillion to the debt.

It was over $9 trillion when he took office, it's now beyond $16 trillion. Ask someone to do the math for you....

Great minds think alike..

 

[Rozman]

News flash....
Obama is now the president.
Bush is not.

This is Obama's economy.
Unemployment numbers,food stamp numbers,what's going on with the housing economy what's going on with education the whole deal is happening under Obama's brilliant stewardship.

And he will have to answer for it all after his term is up.

Plain and simple.

Making excuses for him is pretty lame.

 

[Rozman]

Getting a little fed up with the it's never Obama's fault BS over here.

 

[Wehrwolfen]

Obama did not create $5 trillion in new debt

Correct. He did not.

Riiiight, He created more than $7 Trillion in new debt in less than 4 years of his presidency.

 

[Foxfyre]

The problem with the OP is that President Bush did not have the authority or capability of hiding ANYTHING in the budget or keeping any expenditure out of the budget. The President cannot spend a dime without authorization from Congress even if that authorization is a blank check.

I am not defending a dime of the excesses of the Bush Administration, but those excesses were his and nobody elses. He couldn't legitimately blame them on Clinton any more than the excesses of the Obama Administration can be legitimately blamed on Bush. And for those with short memories, the Democrats had firm control of both the House and Senate, and that included the national purse strings, for the last two years of the Bush Administration.

The last three Congresses are under Obama's watch and have sole ability to spend or not spend regardless of what the budget authorizes. The Bush budget did not include the second half of TARP that was left to Obama to spend in 2009 and it certainly did not include a trillion dollar stimulus package that was passed by Obama's super majority in Congress and was over and above budget.

And then Obama's Democrats have refused to pass any budget since but are still running on that 2009 budget which is adding more than a trillion to the national debt every passing year and will do so as far into the future as we can see.

Nobody who cares about the country can justify that.