Skip to comments.Who is to Blame for the National Debt?
Posted on 07/21/2012 10:38:42 PM PDT by MrChips
In concert with the "Blame Bush" mentality, the general Leftist mantra (per talking points from Axelrod) is that our nation has been going bankrupt because of Bush's War in Iraq (a war supported by Democrats and Republicans alike). We can ignore, here, the fact that Obama's spending in Afghanistan far exceeds what Bush spent. And while we could debate the merits of both wars ad nauseum, it is more important to point out the fact that just the first two years of Obama's slush fund for political friends . . . er, uh, the "stimulus" . . . cost more than the entire cost of the Iraq War under President Bush, or six years.
Both parties are to blame for the national debt. No one is arguing that isn't the case. But, Here are the actual numbers, as of 6/21/2012:
National Debt that has been incurred during 8 year terms of:
Clinton $1,539,684,631,121 . . . ($16,038,381,574 per month)
Bush $4,899,100,310,608 . . . ($51,032,294,902 per month)
National Debt that has been incurred during the 3 1/2 years of:
Obama $5,152,766,313,572 . . . ($125,677,227,160 per month)
The Obama administration's rate of spending is more than twice that of President Bush! It's about 2 1/2 times as much.
And then there is Congress. Whereas it is true that Republicans tended to overspend during the years 2003-2007, for which they paid dearly at the ballot box, keep in mind that Clinton's rate of spending declined precipitously after 1994, the year the Republican took Congress. Moreover, if you look at the overall spending from 1992 to 2012, you will find this:
When Republicans had full control of Congress:
$3,216,007,779,169 . . . ($26,800,064,826 per month)
When Republicans and Democrats shared control of Congress:
$2,526,350,471,142 . . . ($60,151,201,694 per month)
When Democrats had full control of Congress:
$5,970,755,227,430 . . . ($82,927,155,937 per month)
When the Democrats seized control of congress and the budget process in January 2007, the average accumulating debt jumped from $47.8 billion per month to $81.3 billion per month. Then, when Obama was inaugurated, the accumulating debt skyrocketed to an average high of $141 billion per month. Since the GOP got control of the House in January 2011, the national debt growth has been reduced by an average of nearly $38 billion per month. Democrats in control of congress have incurred nearly three times the average monthly debt that republicans had incurred since January 1992.
What's worse, while the national debt has nearly eclipsed $16 trillion, our actual unfunded liabilities that must be paid by our children and future generations now exceed $62 trillion. Federal spending is out of control, and has been out of control since FDR, whom, I believe, was a Democrat.
SOURCE OF NUMBERS: United States Department of the Treasury
Everyone who voted to spend money we didn’t have!
The last 2 presidents and congress since Clinton left office.
Its a non-issue. If we don’t stop the imports and illegals our industry will go overseas and jobs will be taken by the invaders. No amount of lower taxes and lower regulations will be lower than Chinese slave labor and zero regs. Tariffs and Borders are the answer.
“Everyone who voted to spend money we didnt have!”
Unfortunately that includes many here, who DEMAND that their Social Security money (i.e., welfare) keep flowing, even though that money was spent decades ago, by people they collectively elected. Now the only people left to meet their demands are my kids, and some day their kids.
The American people. We didn’t put our foot down louder, harder and sooner. We have voted these people into office. We have been lazy. Heck, I have read some gazilloniares didn’t even bother to vote in the past. I know several regular folk who have never voted but intend to now and some that STILL won’t bother.
We have allowed so much to slip through our fingers...we have been flippant with the liberty gifted us. We were not guardians. Not all, I realize but generally speaking.
and to think Barry bitched about this in 2008. as of now, its all his! he wanted the presidency,,he owns the debt!
When it comes to the national debt:
Bush: very bad
Obama: very, very bad
You are correct.
YES, The American People.....and the STATES....you all really should listen to this 42 minute program about States Rights....it’s an interview with a Utah Legislator/Attorney ... and he makes some EXCELLENT points, while saying Americans need to be MORE engaged and educated about OUR system, which is out of whack right now.... http://www.ispyradio.com.... look for the program on the TENTH Amendment...it’s available for download now, after airing earlier today.
You are both correct. While we snoozed the feds have printed up almost insurmountable debt.
Squeezing it back out of the system will be real tough...
Like CWII tough.
That would be me, Sorry I borrowed so much.
Us. We let the bastards do it.
Everyone found out they can feed at the treasury trough and all they have to do is pull the "Democrat" lever once every four years.
Good return for little work.
Since the 1930’s the Democrats have controlled congress almost completely including a stretch from 1954 to 1994. prior to that the Democrats controlled the House from 1933 - 1945 non stop. This is when MOST of the seeds where sown for the ultimate destruction of America.
Social Security, Massive Farm bills and massive WPA and Depression Era Departments and programs that continue to this day. That followed by Years of Democrat shenanigans with the massive increase of Social spending during the 1960’s culminating in the Great Society blunders of Medicare and Medicaid and a slew of other programs that ratcheted up the government spending spigot.
The least understood cause of fiscal insanity was the Congressional Budget Office and the insane practice of the baseline budget that sees a lowering of an increase as a decrease in spending. This little jewel was brought to us by the Democrats in the Congressional Budget and Impoundment Control Act of 1974. This was ramrodded through as a lie to offer cover for Democrats continued excess spending and signed into law by Nixon. One of his many bad ideas like the EPA.
So all in all based on the history, The Democrat Party has done a great job of setting up the country for financial calamity throughout the past century, much like they set the country up for calamity in the previous century as the proponents of slavery and secession.
Perhaps. But, does the war on terror have merit? Was hiding the cost of it necessary because it was unpopular?
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