Obama on Pace to Borrow $6.2T in One Term

[Chris]

"It's Not my Fault, Bush made me do it, Give me 4 more years and this time I will only add 4 Trillion more, I promise......Did I mention it's Bush's Fault?"

No, it's Reagan and Bush's fault.

Click on the link...

ReaganBushDebt.org Calculation Details

 

[Lakhota]

How the Deficit Got This Big - The New York Times

 

[zonly1]

Yes, actually. Government spending have not risen all that much during Obama presidency. But the government revenues shrank with the economy, and we know who was in the office when the recession had started. So Obama had no choice but to borrow in order to compensate for the lost revenue.

And Obama has personally made the recession worse. He's a failure.

How has Obama "personally" made the recession worse? And...a little credible proof would be nice...

Just math is the difference between when obumer got into day one to his third year equaling 5 Trillion and counting. This comes to roughly 1.67 trillion per year and after 4yrs comes to 6.6 trillion.

 

[Sirkarl101]

Obama, Bush, Reagan, Clinton. Again it is our fauly we are in the shape we are. We never forced disclosure and transparency so each one of these puppets dp what they are paid to do. Move forward the agenda of big business which encompasses the military and numerous government agencies. We are bombarded by propaganda on a daily basis and eat it up as fast as we can and do not bother to do any research on the matters. Rush is right, Hannity is the man, MSNBC rocks fuck, open your minds and look at shit in a context of neutrality. Do not form an opinion bases on television personalities as with our elected officials it is all stage. This president borrows more because their are fewer jobs and more people on assistance period. It will be to late relatively soon where we can not pay the interest on our loans let alone the loans themselves.
A total restructure transparency must take place. If a politician receives money from big oil and they rule in favor of a project against the wishes of those who put them in office, do you not think this bribe should cost him his or her job? In closing, NO presidents records can be compared as the world, national and economic and soooooo many other conditions existed during each one of their presidency. The only things that might be found useful is matters like trickle down which has never worked. Bigger government has never been the solution and the United States military being used as the big brother program for the advancement of other countries security issues has cost us lives, money, and caused damage to our economy with the exception of the defense contractors, Boeing, Grumen. Lockheed Martin etc.

 

[LoneLaugher]

And Obama has personally made the recession worse. He's a failure.

How has Obama "personally" made the recession worse? And...a little credible proof would be nice...

Dodd, Frank.... Obamacare

For starters. There is plenty of Credible proof of that, Especially if you are a small Business owner, Though I rather suspect you will deny and ignore it.

I am a small business owner. Dodd frank and Obamacare have not made the recession worse for me. In fact, the recession has ended. You are in complete denial of the facts.

 

[Care4all]

Obama on Pace to Borrow $6.2T in One Term

Obama on Pace to Borrow $6.2T in One Term—More Than All Presidents from Washington Through Clinton Combined
By Terence P. Jeffrey

January 13, 2012

(CNSNews.com) - President Barack Obama has been increasing the national debt during his presidency by an average of $4.24 billion per day ($4,240,506,004.34) putting him on a pace to increase the national debt by $6.2 trillion ($6,195,379,272,340.74) by the end of his term on Jan. 20, 2013, according to the debt figures published by the U.S. Treasury.

That $6.2 trillion is more debt than was accumulated by all U.S. presidents from George Washington through Bill Clinton combined.

In fact, the U.S. national debt did not eclipse the $6.195 trillion level—the amount Obama is on pace to increase it in one term—until August 19, 2002, during President George W. Bush’s second year of office.

The national debt was $10.6 trillion ($10,626,877,048,913.08) on Jan. 20, 2009, the day Obama was inaugurated. As of the close of business on Jan. 11, 2012, it was $15.2 trillion ($15,236,307,075,631.58.) In Obama’s first 1,087 days in office, the debt increased $4.6 trillion ($4,609,430,026,718.50)—or an increase of $4.24 billion ($4,240,506,004.34) per day.

At that daily rate, the debt would increase a total of $6.2 trillion ($6,195,379,272,340.74) over the entire 1,461 days of Obama’s four year term.

At the close of business Aug. 19, 2002, the total national debt was $6.195 trillion.

that's just twisting and playing with numbers...not that Obama's record is good, but his first Budget as President began October 1, 2009 which was at 11.9 trillion...you go from there on HIS debt added....the budget for 2009 that began in 2008 is attributed to the Bush Presidency, as President Bush's 8 year reign....you can't go and give president Bush ONLY 7 YEARS of a budget for his 8 year term.....no matter how much you want to PLAY and TWIST the numbers....you just can't...Bush gets 8 fiscal YEARS attributed to his reign and same with every president that serves 8 years...you can't just give them 7 years of a fiscal budget and then give the next president 5 years for a 4 year term or 9 years for an 8 year term....

so, right now we are at 15.3 trillion as of 1/12/2012 according to the link in the article for debt figures...and he began at 11.9 trillion....so at this point, under his budget responsibilities, he has had 2.4 trillion added to the national debt, and i could see another 800 billion added by the fiscal end of 2012, and then next year, the 2013 budget probably another trillion to 1.5 trillion added....so, it's bad....it could be 4.2 trillion to 4.7 trillion...but it is NOT the 6 trillion claimed.

 

[California Girl]

"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the U.S. Government can't pay its own bills,"

Who said that?

 

[Care4all]

"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the U.S. Government can't pay its own bills,"

Who said that?

Obama said it...and he was correct.

Now let me ask you something....do you think each fiscal year is a separate year in a vacuum on it's own? Do you think the running deficits just disappear at the end of each year's budget? Obama was handed a running deficit of 1.5 trillion.... President bush was handed a running surplus of 100-200 billion when he took office...now if for some reason, you think that being handed a 1.5 trillion dollar running deficit is the same as being handed a running surplus with the budget....then there is no hope!!!!

 

[California Girl]

"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the U.S. Government can't pay its own bills,"

Who said that?

Obama said it...and he was correct.

Now let me ask you something....do you think each fiscal year is a separate year in a vacuum on it's own? Do you think the running deficits just disappear at the end of each year's budget? Obama was handed a running deficit of 1.5 trillion.... President bush was handed a running surplus of 100-200 billion when he took office...now if for some reason, you think that being handed a 1.5 trillion dollar running deficit is the same as being handed a running surplus with the budget....then there is no hope!!!!

I believe in the founding principle of this country that each generation should pay its way. Pity more of the previous generations didn't think that way. Then I wouldn't be stuck with their tab.

Seems to me that - given that the left on this board seem hellbent on blaming Bush - it's absolutely valid for me to blame Obama.

Please tell me that you are rational enough to see the rank stupidity of 'blaming' the President of each Administration for this.... please... I know you're smart enough to know better.

 

[ShaklesOfBigGov]

But if he gets his way, Obama's gonna' cut $250 Million off the budget next year!

He already cut NASA's and the Pentagon's budget, perhaps he will finally come around and do the right thing by cutting entitlement spending. You know, that word the left always loves to throw around . . . "compromise"?

 

[ShaklesOfBigGov]

Bush is making him do it!

Yes, actually. Government spending have not risen all that much during Obama presidency. But the government revenues shrank with the economy, and we know who was in the office when the recession had started. So Obama had no choice but to borrow in order to compensate for the lost revenue.

Between FY 2001-FY2009, $864.82 billion was spent on the War on Terror. The phrase, War on Terror, was dropped by the Obama Administration

http://useconomy.about.com/od/usfederalbudget/War_on_Terror_Facts.htm

The CBO estimate of the 2009 stimulus bill alone is expected to cost taxpayers $821 billion — or $34 billion more than originally projected. Putting government spending between the two administrations in its PROPER perspective, and is the reason why the United States lost it's AAA rating for the first time in history. It's high time the Republicans cut up President Obama's government credit card with his spending spree, and say he has reached his spending limit.

CBO raises its stimulus cost estimate, again - Washington Times

 

[Full-Auto]

Obama on Pace to Borrow $6.2T in One Term

Obama on Pace to Borrow $6.2T in One Term—More Than All Presidents from Washington Through Clinton Combined
By Terence P. Jeffrey

January 13, 2012

(CNSNews.com) - President Barack Obama has been increasing the national debt during his presidency by an average of $4.24 billion per day ($4,240,506,004.34) putting him on a pace to increase the national debt by $6.2 trillion ($6,195,379,272,340.74) by the end of his term on Jan. 20, 2013, according to the debt figures published by the U.S. Treasury.

That $6.2 trillion is more debt than was accumulated by all U.S. presidents from George Washington through Bill Clinton combined.

In fact, the U.S. national debt did not eclipse the $6.195 trillion level—the amount Obama is on pace to increase it in one term—until August 19, 2002, during President George W. Bush’s second year of office.

The national debt was $10.6 trillion ($10,626,877,048,913.08) on Jan. 20, 2009, the day Obama was inaugurated. As of the close of business on Jan. 11, 2012, it was $15.2 trillion ($15,236,307,075,631.58.) In Obama’s first 1,087 days in office, the debt increased $4.6 trillion ($4,609,430,026,718.50)—or an increase of $4.24 billion ($4,240,506,004.34) per day.

At that daily rate, the debt would increase a total of $6.2 trillion ($6,195,379,272,340.74) over the entire 1,461 days of Obama’s four year term.

At the close of business Aug. 19, 2002, the total national debt was $6.195 trillion.

Remember this.

All cuts are extreme. That is the official democrat position.

 

[ShaklesOfBigGov]

Wonder how much that would be if we never had the Bush Tax cuts, the drugs for votes bill and the cost of tens of thousands of Americans maimed in Iraq? Would we even be in debt? Good job GOP. And now you blame it on Obama. Remember, the Bush Tax cuts and the drugs for votes bill were both passed through reconciliation. Not a thing Democrats could do about it.

Remember which party held the Legislative branch until 2011, which included government programs like Obamacare, the Stimulus bill, Cash for Clunkers, Cash for Appliances, Home Forclosure bail-out spending (to name a few) and there was nothing the Republicans could do about it.

 

[rdean]

Yes, actually. Government spending have not risen all that much during Obama presidency. But the government revenues shrank with the economy, and we know who was in the office when the recession had started. So Obama had no choice but to borrow in order to compensate for the lost revenue.

And Obama has personally made the recession worse. He's a failure.

How has Obama "personally" made the recession worse? And...a little credible proof would be nice...

You won't find it. Not from this bunch.

 

[rdean]

Bush is making him do it!

Yes, actually. Government spending have not risen all that much during Obama presidency. But the government revenues shrank with the economy, and we know who was in the office when the recession had started. So Obama had no choice but to borrow in order to compensate for the lost revenue.

Between FY 2001-FY2009, $864.82 billion was spent on the War on Terror. The phrase, War on Terror, was dropped by the Obama Administration

http://useconomy.about.com/od/usfederalbudget/War_on_Terror_Facts.htm

The CBO estimate of the 2009 stimulus bill alone is expected to cost taxpayers $821 billion — or $34 billion more than originally projected. Putting government spending between the two administrations in its PROPER perspective, and is the reason why the United States lost it's AAA rating for the first time in history. It's high time the Republicans cut up President Obama's government credit card with his spending spree, and say he has reached his spending limit.

CBO raises its stimulus cost estimate, again - Washington Times

What is wrong with you people? If the stimulus was so bad, why did over a hundred Republicans who voted against it take hundreds of millions of dollars and create thousands of jobs?

It's easy to find out who they were and what the spent it on. You sit in front of the damn Internet, USE IT!

 

[Trajan]

Obama cannot borrow 10 cents. You fake originalists should know that. The rules require that someone else do that borrowing. Ducking fummies.

sooo bush didn't borrow 5.5 trillion? okay then, as long as we are not be selective I am in. I agree, congress in the end has the final say.

BUT in the end the script has already been written for media purposes, it is the president who carry's the responsibility. Is it fair? Not entirely no, but thats the way it is.

 

[Trajan]

Yes, actually. Government spending have not risen all that much during Obama presidency. But the government revenues shrank with the economy, and we know who was in the office when the recession had started. So Obama had no choice but to borrow in order to compensate for the lost revenue.

Between FY 2001-FY2009, $864.82 billion was spent on the War on Terror. The phrase, War on Terror, was dropped by the Obama Administration

http://useconomy.about.com/od/usfederalbudget/War_on_Terror_Facts.htm

The CBO estimate of the 2009 stimulus bill alone is expected to cost taxpayers $821 billion — or $34 billion more than originally projected. Putting government spending between the two administrations in its PROPER perspective, and is the reason why the United States lost it's AAA rating for the first time in history. It's high time the Republicans cut up President Obama's government credit card with his spending spree, and say he has reached his spending limit.

CBO raises its stimulus cost estimate, again - Washington Times

What is wrong with you people? If the stimulus was so bad, why did over a hundred Republicans who voted against it take hundreds of millions of dollars and create thousands of jobs?

It's easy to find out who they were and what the spent it on. You sit in front of the damn Internet, USE IT!

for the same reasons dems and reps both as citizens signed no doc loans, and engaged in ultimately destructive borrowing practices, avarice knows no party or affiliation, if the money is offered, they'll take it, just as you and yours would and did.

 

[Trajan]

And Obama has personally made the recession worse. He's a failure.

How has Obama "personally" made the recession worse? And...a little credible proof would be nice...

You won't find it. Not from this bunch.

did bush dipshit? according to your precious media, he did, his economy sucked yada yada yada....its obamas turn in the barrel, stop whining and suck it up.

 

[Full-Auto]

How has Obama "personally" made the recession worse? And...a little credible proof would be nice...

You won't find it. Not from this bunch.

did bush dipshit? according to your precious media, he did, his economy sucked yada yada yada....its obamas turn in the barrel, stop whining and suck it up.

March 2009.

Obama.......... Give me the economy....... WE DID.

 

[Trajan]

Obama on Pace to Borrow $6.2T in One Term

Obama on Pace to Borrow $6.2T in One Term—More Than All Presidents from Washington Through Clinton Combined
By Terence P. Jeffrey

January 13, 2012

(CNSNews.com) - President Barack Obama has been increasing the national debt during his presidency by an average of $4.24 billion per day ($4,240,506,004.34) putting him on a pace to increase the national debt by $6.2 trillion ($6,195,379,272,340.74) by the end of his term on Jan. 20, 2013, according to the debt figures published by the U.S. Treasury.

That $6.2 trillion is more debt than was accumulated by all U.S. presidents from George Washington through Bill Clinton combined.

In fact, the U.S. national debt did not eclipse the $6.195 trillion level—the amount Obama is on pace to increase it in one term—until August 19, 2002, during President George W. Bush’s second year of office.

The national debt was $10.6 trillion ($10,626,877,048,913.08) on Jan. 20, 2009, the day Obama was inaugurated. As of the close of business on Jan. 11, 2012, it was $15.2 trillion ($15,236,307,075,631.58.) In Obama’s first 1,087 days in office, the debt increased $4.6 trillion ($4,609,430,026,718.50)—or an increase of $4.24 billion ($4,240,506,004.34) per day.

At that daily rate, the debt would increase a total of $6.2 trillion ($6,195,379,272,340.74) over the entire 1,461 days of Obama’s four year term.

At the close of business Aug. 19, 2002, the total national debt was $6.195 trillion.

Remember this.

All cuts are extreme. That is the official democrat position.

[ame=http://www.youtube.com/watch?v=hsDwEUJPlSU]Harry Reid Cowboy Poetry - YouTube[/ame]




when you cannot cut cowboy poetry, there is nothing to cut.