Qball
Corner Pocket
- Oct 8, 2009
- 585
- 113
Obama's yet to pass a tax "cut" (tax credits or exemptions maybe) and he's spent a lot in defense because he doesn't really know what he's doing.Here is a no bullshit assessment about what exactly the debt under Obama is composed of. As you can see Obama's biggest expenses were his TAX CUTS and defense spending - policies republicans love.
US Debt by PresidentPresident Barack Obama - The second largest contributor to the debt dollar-wise was President Obama. He added $4.8 trillion, a 41% increase, in just one term. Obama's budgets included the economic stimulus package, which added $787 billion by cutting taxes, extending unemployment benefits, and funding job-creating public works projects. The Obama tax cuts added $858 billion to the debt over two years. Obama's budget included increased defense spending to around $800 billion a year. Federal income was down, thanks to lower tax receipts from the 2008 financial crisis.
Both Presidents Bush and Obama had to contend with higher mandatory mandatory spending for Social Security and Medicare. He also sponsored the Patient Protection and Affordable Care Act, which was designed to reduce the debt by $143 billion over 10 years. However, these savings didn't show up until the later years.
Of course, all this being said, I do agree Obama has spent too much on defense and he shouldn't have extended Bush's tax cuts. My point is that Repubs are ignorant about what exactly Obama's expenses are.
I love when liberals try to play off Democratic hypocrisy with Republican hypocrisy. You don't get to run on a platform of cutting the budget and then when you fail at call the other side hypocrites because you spent a lot on stuff they "generally" like. Obama fucked up. Period.