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CBS: National Debt has increased more under Obama than under Bush
CBS ^ | 3-19-12 | Mark Knoller

Posted on 03/20/2012 7:46:55 AM PDT by tcrlaf

The National Debt has now increased more during President Obama's three years and two months in office than it did during 8 years of the George W. Bush presidency.

The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office.

The latest posting from the Bureau of Public Debt at the Treasury Department shows the National Debt now stands at $15.566 trillion. It was $10.626 trillion on President Bush's last day in office, which coincided with President Obama's first day.

The National Debt also now exceeds 100% of the nation's Gross Domestic Product, the total value of goods and services.

Mr. Obama has been quick to blame his predecessor for the soaring Debt, saying Mr. Bush paid for two wars and a Medicare prescription drug program with borrowed funds.

The federal budget sent to Congress last month by Mr. Obama, projects the National Debt will continue to rise as far as the eye can see. The budget shows the Debt hitting $16.3 trillion in 2012, $17.5 trillion in 2013 and $25.9 trillion in 2022.

(Excerpt) Read more at cbsnews.com ...


TOPICS: Extended News; Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: 2012; bhoeconomy; bhofascism; debt; democrats; hope; hopeychangey; lie; nobama; nobama2012; obama; obamatruthfile

"I'll cut the deficit IN HALF, by the end of my first term! - Barack Obama, 2008

1 posted on 03/20/2012 7:47:04 AM PDT by tcrlaf
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To: tcrlaf

I’d prefer to see that same graph in terms of a percentage of our national debt than in dollars. Because of things like inflation, a raw dollar amount doesn’t mean much and can easily be excused away by the libs. Let’s get some real data in that can’t be ignored.


2 posted on 03/20/2012 7:50:03 AM PDT by Marko413
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To: tcrlaf
CBS: National Debt has increased more under Obama than under Bush


3 posted on 03/20/2012 7:51:04 AM PDT by Old Sarge (RIP FReeper Skyraider (1930-2011) - You Are Missed)
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To: Marko413

I think the real news here is that CBS dared to admit this, let alone run with it.


4 posted on 03/20/2012 7:51:50 AM PDT by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: tcrlaf

duh


5 posted on 03/20/2012 7:52:43 AM PDT by Doogle (((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated)))
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To: tcrlaf

6 posted on 03/20/2012 7:54:22 AM PDT by tomkat (FU.baraq)
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To: tcrlaf

*** “I’ll cut the deficit IN HALF, by the end of my first term! - Barack Obama, 2008 ***

Good gosh, that’s just too funny. Is there a website that has Obama promises and actual results? That would be more than interesting.


7 posted on 03/20/2012 7:54:41 AM PDT by brownsfan (Aldous Huxley and Mike Judge were right.)
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To: tcrlaf

fair enough


8 posted on 03/20/2012 7:55:44 AM PDT by Marko413
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To: tcrlaf

LIAR
“I refuse to leave our children with a debt they cannot repay,” “We cannot and will not sustain deficits like these without end. ... We cannot simply spend as we please.” - Barack Hussein Obama 2/23/2009


9 posted on 03/20/2012 7:56:02 AM PDT by Proud2BeRight
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To: tcrlaf

That is amazing and add to that ole Jeff Imelt of of GE turning on Obamanomics.


10 posted on 03/20/2012 7:57:20 AM PDT by Qwackertoo (Gingrich/West 2012)
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To: tcrlaf

CBS is finally kicking the Heroin habit.Their finally seeing reality.


11 posted on 03/20/2012 7:59:03 AM PDT by puppypusher (The World is going to the dogs.)
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To: puppypusher
"CBS is...finally seeing reality."

Yeah, right!!

12 posted on 03/20/2012 8:05:45 AM PDT by harpu ( "...it's better to be hated for who you are than loved for someone you're not!")
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To: tcrlaf
"I think the real news here is that CBS dared to admit this, let alone run with it."

Don't get all excited. It's part of the grand strategy to pressure Congress to raise taxes when the next debt limit crisis occurs (this coming Sept or October).

13 posted on 03/20/2012 8:06:02 AM PDT by eCSMaster (Conservative patriots, Rise up!)
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To: harpu

“CBS is...finally seeing reality.”
Yeah, right!!

You can hope can’t you?


14 posted on 03/20/2012 8:07:25 AM PDT by puppypusher (The World is going to the dogs.)
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To: tcrlaf
Zer0's train wreck rolls on (as planned).

US Debt 1-8-12

Hope and Change... Tragic.

America is under threat by the hour
Obama's abusing his office and power.
We all stand and watch in dismay
As our nation sinks into decay.
November is the nation's zero hour.

15 posted on 03/20/2012 8:11:09 AM PDT by BobP (The piss-stream media - Never to be watched again in my house)
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To: tcrlaf

A lefty sent me a long email about how when you look at the spending as a function of GDP Obama is still less than Reagan and other presidents. I haven’t had the time to research and debunk it, but if anyone has seen this and can help me slam this lib down, I would appreciate it......


16 posted on 03/20/2012 8:13:38 AM PDT by SW6906 (6 things you can't have too much of: sex, money, firewood, horsepower, guns and ammunition.)
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To: tcrlaf

Captian Obvious


17 posted on 03/20/2012 8:13:55 AM PDT by BO Stinkss
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To: tomkat

I think the devil might be wearing a down parka.


18 posted on 03/20/2012 8:22:09 AM PDT by kalee (The offenses we give, we write in the dust; Those we take, we engrave in marble. J Huett 1658)
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To: tcrlaf

Now I understand what is happening with math skills in public schools in this country. The President thinks cutting something in half means doubling it!


19 posted on 03/20/2012 8:25:37 AM PDT by WhyisaTexasgirlinPA (Congress touched me inappropriately, they should be put on administrative leave immediately)
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To: SW6906

This is the usual refuge of Billbot. I am sure this is the common bar graph showing the total national debt adjusted for inflation, or simply shown as a % of GDP.

None of this means that mean Clinton had a surplus...he didn’t.

It’s a deflection, as nflation was increasing faster than the national debt, or GDP was expanding faster than the debt.

That does not change the fact that Clinton never had a surplus.


20 posted on 03/20/2012 8:26:20 AM PDT by NOVACPA
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To: tcrlaf

Past results are indicative of future performance

Forecast under Obama: more spending!


21 posted on 03/20/2012 8:33:15 AM PDT by AtlasStalled
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To: tcrlaf
CBS reports this?

Either I'm in an alternate universe, or the libs, perversely, think this is good news. Are libs really that stupid? (probably.....)

22 posted on 03/20/2012 8:34:22 AM PDT by jeffc (Prayer. It's freedom of speech.)
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To: Old Sarge

LOL, Old Sarge. Nice Post and right on point!!


23 posted on 03/20/2012 8:44:40 AM PDT by House Atreides
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To: tcrlaf

Exactly


24 posted on 03/20/2012 8:46:25 AM PDT by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: SW6906

“A lefty sent me a long email about how when you look at the spending as a function of GDP Obama is still less than Reagan and other presidents. I haven’t had the time to research and debunk it, but if anyone has seen this and can help me slam this lib down, I would appreciate it......”

Here you go.http://visualeconomics.creditloan.com/presidential-spending-expenditures-by-year/
Your lefty friend is in liar mode big time. Under Obama, it has been the highest since WW2.


25 posted on 03/20/2012 8:52:01 AM PDT by chuckee
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To: tcrlaf

And it took cBS over three years to admit this...
MSNBO won’t admit it, even if you put the numbers right in front of them.


26 posted on 03/20/2012 8:54:12 AM PDT by Thunder90 (Romney barely won in OH with a 12-1 money advantage, he can't beat Obama that way.)
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To: chuckee

Thanks, that helps.


27 posted on 03/20/2012 8:58:47 AM PDT by SW6906 (6 things you can't have too much of: sex, money, firewood, horsepower, guns and ammunition.)
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To: SW6906
I have know idea about what you're looking for, though I'm sure I could find something. I was talking to a lefty the other day. He said he heard that with all the CEO's exorbitant pay, if spread out, it would raise everybody elses pay to $22-$23 an hour.

When I got home I did a search. I started with Walmart.

According to Wikipedia: Walmarts CEO makes $35 million.
Walmart has 2.1 million employees.

Doing the math, thats about $17 per person.

According to Forbes, the top 500 CEO's made $4.5 billion.

Just for arguments sake, divide the top 500 CEO's pay, not by TOTAL employees of all 500 companies, but by JUST Walmarts employees.

$4.5 Billion ÷ 2.1 Million = $2 142.86

In other words, just over $1 an hour.

Never trust a liberals "facts"

28 posted on 03/20/2012 9:28:40 AM PDT by mountn man (Happiness is not a destination, its a way of life.)
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To: Old Sarge

Shaa-Zamm!-Gomer Pyle. Having mastered the obvisous CBS even moved on to the relevant: It’s a spending problem.

I believe historically the national debt hasn’t gone down since 1957. http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm


29 posted on 03/20/2012 12:01:05 PM PDT by Idaho_Cowboy (In case of doubt: Attack! George S. Patton)
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To: tcrlaf

The editors must have been on vacation./


30 posted on 03/20/2012 12:17:54 PM PDT by princeofdarkness (The Obama Administration is circling the wagons. But the Truth Indians are using flaming arrows.)
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To: tcrlaf

It’s just Bush’s policies catching up with us. After all, he did SO much while in office, that it was overwhelming for Obama to tackle it all and he’s still taking his time to fix all the many problems that were left in Bush’s wake.

/sarc


31 posted on 03/20/2012 12:24:58 PM PDT by Lucky9teen (Peace is that brief glorious moment in history when everybody stands around reloading.~Thomas Jeffer)
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To: SW6906
Percentage of GDP is important; what your lefty friend fails to realize is there are several other factors that must be taken into consideration.

First, total sovereign debt to GDP ratio. We are at the Tipping Point, also known as the Minsky Moment.

Second, we are running a ZIRP just to pay for the interest on the debt.

Third, we are in a long-wave contraction. It's not going to get better any time soon and additional deficit spending will only make it worse.

But, they probably don't follow Ray Dalio, Bill Gross, or Kyle Bass. No doubt they are taking their talking points from that clown, Paul Krugman.

Good summary on what we face: Dangers of Additional Deficit Spending

32 posted on 03/20/2012 1:14:01 PM PDT by TheWriterTX (Riding the Long-Wave Economic Contraction, Baby!)
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To: mountn man

Good stuff. thanks!


33 posted on 03/20/2012 1:56:54 PM PDT by SW6906 (6 things you can't have too much of: sex, money, firewood, horsepower, guns and ammunition.)
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To: tcrlaf

A year ago everyone was talking about the debt hitting $13 trillion. Now it’s already up to $15 trillion.


34 posted on 03/20/2012 2:04:28 PM PDT by Terry Mross ( "It happened. And we let it happen. - Peter Griffin, Family Guy)
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To: Terry Mross

http://www.usdebtclock.org/


35 posted on 03/20/2012 2:06:50 PM PDT by morphing libertarian
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To: Old Sarge
It maybe obvious, but then again it should have never gone up nearly $5 Trillion under George W, especially since he had Republicans in control of Congress for a while.

As much as we bitch about Obama, we need to hold our own folks accountable, otherwise the outcome is the same - a more powerful, more expensive, and more unaffordable government.
36 posted on 03/20/2012 2:52:10 PM PDT by af_vet_rr
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To: Marko413

CBS?


37 posted on 03/20/2012 2:57:55 PM PDT by CPT Clay (Pick up your weapon and follow me.)
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