Debt Per American Citizen Rises Even More Under Obamao
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With our system of government it will be next to impossible to drive down our national debt (now over 18 trillion plus and growing). Candidates who want to get elected will have a tough time winning elections on promising to cut back on spending over other candidates who want to keep up the out of control spending on the credit card.
History has shown that nations running up debt like this plus printing money with nothing behind it eventually leads to disaster. The fact it hasn't happened yet does not mean it cannot happen and who will bail the United States out?
We are taking in a record amount of tax revenue right now and that has not stopped the national debt from climbing higher which points to out of control spending as the problem.
With our system of government it will be next to impossible to drive down our national debt (now over 18 trillion plus and growing). Candidates who want to get elected will have a tough time winning elections on promising to cut back on spending over other candidates who want to keep up the out of control spending on the credit card.
History has shown that nations running up debt like this plus printing money with nothing behind it eventually leads to disaster. The fact it hasn't happened yet does not mean it cannot happen and who will bail the United States out?
We are taking in a record amount of tax revenue right now and that has not stopped the national debt from climbing higher which points to out of control spending as the problem.
Not really. Higher tax income largely means higher wages or more people. More people means more services have to be provided, more needs to be spent on infrastructure and things like that.
Besides, GDP deficit is coming down steadily, so it's hardly out of control.
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I think it is out of control. Not only will the national debt be over 20 trillion by the time Obama leaves office then there is unfunded liabilities projected at up to 100 trillion dollars. Obama tried to spend our way out of recession with an almost trillion dollar stimulus that had little effect but gave us failed programs like Solyndra and cash for clunkers and a host of other not shovel ready jobs that was loaded with pork. We have very little to show for that trillion dollar stimulus.
The bad thing is we did the very thing the Japanese did in 1990 by trying to spend their way out of recession with stimulus spending which did not work and has haunted them up until present. When they tried to pay down the debt it put them back in recession and they never have fully recovered.
I see this country having done the same thing and will get the same results. We are going to have long term problems with this debt.
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Listen...the POINT is, Obamao said that BUSH's DEBT WAS UNPATRIOTIC.
He's the only asshole to say that, and yet, blow the debt to higher and higher levels.
NO, IT IS NOT IN LINE WITH BUSH'S DEBT.
dammit.
http://www.cbsnews.com/news/national-debt-has-increased-more-under-obama-than-under-bush/
http://useconomy.about.com/od/usdebtanddeficit/p/National-Debt-Under-Obama.htm
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Now, look at the freaking graph. Does anybody not understand that the little red line keeps going UP and UP ?????????
http://www.outsidethebeltway.com/has-national-debt-increased-more-under-obama-than-bush/
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I think you misunderstand the difference between debt and deficit. Still.
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the national deficit is deficit spending for the year.
The national debt is an accumulation of all the years
of deficit spending.
I think.
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Deficit spending is the gap between what you earn and what you spend. The national debt is what you owe so far.
If you reverse the gap you can reduce the debt.
WSS
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The debt has risen under every President ever to sit in office. Except Clinton. Every one.
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the national deficit is deficit spending for the year.
The national debt is an accumulation of all the years
of deficit spending.
I think.
the national deficit is deficit spending for the year.
The national debt is an accumulation of all the years
of deficit spending.
I think.
Not quite. See what steve said. It's the gap between what you earn and what you spend. And, in relative terms, it's around the same as pre-crisis, hovering between 2-4% of GDP annually.
Now, I'm not here saying that's good, or the end goal. But considering it was somewhere in the region of 10% in 2009, it's now reaching a more 'normal' level. It needs to go on and become a surplus if you ask me. Not every year, sometimes you need to invest a bit, but long term.
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I confused debt and deficit, so that was my mistake. And yes, under Clinton, we eliminated the deficit and had a surplus. When Bush came in he then wrote $600+ checks to every American which eliminated the surplus in an instant(120 billion dollars was mailed out and called a stimulus package). Stupid. Stupid Stupid. Here is a graphic from the Congressional Budget Office that shows it. Not a bogus source like the Blaze. The actual Guberment. Chris is right, the percentage of debt has remained the same. The deficit grew to a record size under Bush and now has been brought way down again(like Clinton did). Cant dent the truth when its right in front of you. Though Im sure someone will try.
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Okay, so what did Clinton do to make that happen? And why are we in recession at the end of his administration? And why were we rolling along like gangbusters until two years before the end of the Bush administration? And which party took control of both the houses right before the housing bubble burst?
And a whole bunch of other shit that we have no way of answering. Just saying.
WSS
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Okay, so what did Clinton do to make that happen? And why are we in recession at the end of his administration? And why were we rolling along like gangbusters until two years before the end of the Bush administration? And which party took control of both the houses right before the housing bubble burst?
And a whole bunch of other shit that we have no way of answering. Just saying.
WSS
Does anyone remember 80s? Did you have a computer? Did you have the internet? Probably not. Do you have one today? Yes you do and it's absolutely essential to modern life. What happened between those two? The 90s. The computer revolution was just that: a revolution. It changed everything, affected every industry and every office and every home in America...in the world...who was president in the 90s? Bill Clinton. He had little to do with it. His main contribution was not fucking up and paying the bills when there was huge amounts of money being made.Okay, so what did Clinton do to make that happen? And why are we in recession at the end of his administration? And why were we rolling along like gangbusters until two years before the end of the Bush administration? And which party took control of both the houses right before the housing bubble burst?
And a whole bunch of other shit that we have no way of answering. Just saying.
WSS
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2008 is skewed because of the recession. If this graph went further you'd actually see the deficit has consistently gone down under Obama otherwise.
Frankly they're all terrible, but you're wrong to say Obama has been worse for the deficit than Bush.
You can't dispute it, but you'll try to anyway cuz you read the blaze
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Congress writes the checks, not the president.
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and he called BUSH's debt amount UNPATRIOTIC ?
Seriously?
We used to hear this calc spouted off by libs all the damn time.
With Obamao, nothin. All that feigned liberal indignance - solely for
political expediencies' sake.
Our debt is big, serious trouble. And the rest of us are, if any dem wins the WH.
http://cnsnews.com/news/article/831452985033907-debt-7061291-household-obamas-first-7-years
and he called BUSH's debt amount UNPATRIOTIC ?
Seriously?
We used to hear this calc spouted off by libs all the damn time.
With Obamao, nothin. All that feigned liberal indignance - solely for
political expediencies' sake.
Our debt is big, serious trouble. And the rest of us are, if any dem wins the WH.
http://cnsnews.com/news/article/831452985033907-debt-7061291-household-obamas-first-7-years
Really?
Amount Added to the National Debt for Each Fiscal Year Since 1982: http://useconomy.about.com/od/usdebtanddeficit/p/US-Debt-by-President.htm
Barack Obama: Added $6.167 trillion, a 53% increase in the $11.657 trillion debt level due to President Bush at the end of his last budget, FY 2009.FY 2014 - $1.086 trillion.FY 2013 - $672 billion.FY 2012 - $1.276 trillion.FY 2011 - $1.229 trillion.FY 2010 - $1.652 trillion.FY 2009 - $253 billion. (Congress passed the Economic Stimulus Act, which spent $253 billion in FY 2009. This rare occurrence should be added to President Obama's contribution to the debt.)George W. Bush: Added $5.849 trillion, a 101% increase to the $5.8 trillion debt level at the end of Clinton's last budget, FY 2001.FY 2009 - $1.632 trillion. (Bush's deficit without the impact of the Economic Stimulus Act).FY 2008 - $1.017 trillion.FY 2007 - $501 billion.FY 2006 - $574 billion.FY 2005 - $554 billion.FY 2004 - $596 billion.FY 2003 - $555 billion.FY 2002 - $421 billion.Bill Clinton: Added $1.396 trillion, a 32% increase in the $4.4 trillion debt level at the end of Bush's last budget, FY 1993.FY 2001 - $133 billion.FY 2000 - $18 billion.FY 1999 - $130 billion.FY 1998 - $113 billion.FY 1997 - $188 billion.FY 1996 - $251 billion.FY 1995 - $281 billion.FY 1994 - $281 billion.George H.W. Bush: Added $1.554 trillion, a 54% increase in the $2.8 trillion debt level at the end of Reagan's last budget, FY 1989.FY 1993 - $347 billion.FY 1992 - $399 billion.FY 1991 - $432 billion.FY 1990 - $376 billion.Ronald Reagan: Added $1.86 trillion, 186% increase in the $998 billion debt level at the end of Carter's last budget, FY 1981.FY 1989 - $255 billion.FY 1988 - $252 billion.FY 1987 - $225 billion.FY 1986 - $297 billion.FY 1985 - $256 billion.FY 1984 - $195 billion.FY 1983 - $235 billion.FY 1982 - $144 billion.Average Percent Increase of National Debt by Republican Presidents (Reagan, Bush 1.0, Bush 2.0): 114% increase from predecessor's final FY budgetAverage Percent Increase of National Debt by Democratic Presidents (Clinton, Obama): 42.5% increase from predecessor's final FY budget
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