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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
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"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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