RUSH: Barack OBAMA Has DESTROYED the ECONOMY in Two-and-a-Half Years

www.rushlimbaugh.com ^ | July 14, 2011 | Rush Limbaugh

[Yosemitest]

Care to back your claims up with maybe back them up with links to FACTS?

Well, try these facts.

And then there this pesky fact.

Obama Added More to National Debt in First 19 Months
Than All Presidents from Washington Through Reagan Combined,
Says Gov’t Data
Wednesday, September 08, 2010 by Terence P. Jeffrey

(CNSNews.com) - In the first 19 months of the Obama administration,
the federal debt held by the public increased by $2.5260 trillion,
which is more than the cumulative total of the national debt held by the public
that was amassed by all U.S. presidents from George Washington through Ronald Reagan.

The U.S. Treasury Department divides the federal debt into two categories.
One is “debt held by the public,”
which includes U.S. government securities owned by individuals, corporations, state or local governments, foreign governments and other entities outside the federal government itself.
The other is “intragovernmental” debt,
which includes I.O.U.s the federal government gives to itself when, for example,
the Treasury borrows money out of the Social Security “trust fund” to pay for expenses other than Social Security.

At the end of fiscal year 1989, which ended eight months after President Reagan left office,
the total federal debt held by the public was $2.1907 trillion, according to the Congressional Budget Office.
That means all U.S. presidents from George Washington through Ronald Reagan had accumulated only that much publicly held debt on behalf of American taxpayers.
That is $335.3 billion less than the $2.5260 trillion that was added
to the federal debt held by the public just between Jan. 20, 2009, when President Obama was inaugurated,
and Aug. 20, 2010, the 19-month anniversary of Obama's inauguration.

By contrast, President Reagan was sworn into office on Jan. 20, 1981 and left office eight years later on Jan. 20, 1989.
At the end of fiscal 1980, four months before Reagan was inaugurated, the federal debt held by the public was $711.9 billion, according to CBO.
At the end of fiscal 1989, eight months after Reagan left office, the federal debt held by the public was $2.1907 trillion.
That means that in the nine-fiscal-year period of 1980-89--which included all of Reagan’s eight years in office
--the federal debt held by the public increased $1.4788 trillion.
That is in excess of a trillion dollars less
than the $2.5260 increase in the debt held by the public during Obama’s first 19 months.

When President Barack Obama took the oath of office on Jan. 20, 2009,
the total federal debt held by the public stood at 6.3073 trillion, according to the Bureau of the Public Debt, a division of the U.S. Treasury Department.
As of Aug. 20, 2010, after the first nineteen months of President Obama’s 48-month term, the total federal debt held by the public had grown to a total of $8.8333 trillion, an increase of $2.5260 trillion.

In just the last four months (May 2010 through August 2010), according to the CBO,
the Obama administration has run cumulative deficits of $464 billion,
more than the $458 billion deficit the Bush administration ran through the entirety of fiscal 2008.

The CBO predicted this week that the annual budget deficit for fiscal 2010,
which ends on the last day of this month, will exceed $1.3 trillion.

The first two fiscal years in which Obama has served will see the two biggest federal deficits
as a percentage of Gross Domestic Product since the end of World War II.


“CBO currently estimates that the deficit for 2010 will be about $70 billion below last year’s total but will still exceed $1.3 trillion,”
said the CBO’s monthly budget review for September, which was released yesterday.
“Relative to the size of the economy, this year’s deficit is expected to be the second-largest shortfall in the past 65 years:
At 9.1 percent of gross domestic product (GDP), that deficit will be exceeded
only by last year’s deficit of 9.9 percent of GDP.”

---

Now .... what other lies do you want to say
to defend that piece of garbage defiling the White House,
that curse on our nation ...
named Obama?

[Yosemitest]

Obama’s Great Oppression
I like it!

[rabscuttle385]

They are all to blame. Piss on the Democrats, and piss on the Republicans too.

[fightinJAG]

It’s going to stick, methinks. I saw it first on Twitter, so h/t to that Patriot.

[Yosemitest]

NO!
Not ALL are to blame.
It's the Democrats Communists.
Let's take a deeper look.

Obama: "I Don't Want the Folks who Created the Mess to do a lot of Talking" "

Okay, then the DEMOCRATS need to shut up!!!

Lets review:

Who was it that cut future funding for Medicare by $575 billion?

...the president and the Democratic Party successfully bamboozle voters... The 2012 election could turn on this falsehood.
The truth is that the Obama health law reduces future funding for Medicare by $575 billion over the next 10 years ...

Mr. Obama and Health and Human Services Secretary Kathleen Sebelius frequently make that false claim.
Indeed, even Medicare's mailings to seniors repeat the claim that reducing spending on Medicare will make it more financially secure for future years.
The fact is that Mr. Obama's law raids Medicare.

Who was it that moved Medicare Trust Funds out of the "trust box" and into the General Revenue, replacing them with Government I.O.U.s?
"In early 1968 President Lyndon Johnson [DEMOCRAT] made a change in the budget presentation by including Social Security and all other trust funds in a"unified budget." "

Who was it that expanded Medicare and Medicaid to cover many, many more people than it was originally designed to cover?

The History of Medicare

In 1965, the Social Security Act established both Medicare and Medicaid. Medicare was a responsibility of the Social Security Administration (SSA), while Federal assistance to the State Medicaid programs was administered by the Social and Rehabilitation Service (SRS). SSA and SRS were agencies in the Department of Health, Education, and Welfare (HEW). In 1977, the Health Care Financing Administration was created under HEW to effectively coordinate Medicare and Medicaid. In 1980 HEW was divided into the Department of Education and the Department of Health and Human Services (HHS).

The first U.S. President to propose a prepaid health insurance plan was Harry S. Truman [DEMOCRAT]. On November 19, 1945, in a special message to Congress, President Truman outlined a comprehensive, prepaid medical insurance plan for all people through the Social Security system. The plan included doctors and hospitals, and nursing, laboratory, and dental services; it was dubbed "National Health Insurance." Furthermore, medical insurance benefits for needy people were to be financed from Federal revenues.

Over the years, lawmakers narrowed the field of health insurance recipients largely to social security beneficiaries. A national survey found that only 56 percent of those 65 years of age or older had health insurance. President John F. Kennedy [DEMOCRAT] pressed legislators for health insurance for the aged. However, it wasn't until 1965 that President Lyndon B. Johnson signed H.R. 6675 (The Social Security Act of 1965; PL 89-97) to provide health insurance for the elderly and the poor.

On July 30, 1965, President Johnson signed the Medicare and Medicaid Bill (Title XVIII and Title XIX of the Social Security Act) in Independence, Missouri in the presence of former President Truman, who received the first Medicare card at the ceremony; Lady Bird Johnson, Vice-President Hubert Humphrey, and Mrs. Truman also were present. President Johnson remarked: "We marvel not simply at the passage of this Bill but that it took so many years to pass it."

Medicare extended health coverage to almost all Americans aged 65 or older. About 19 million beneficiaries enrolled in Medicare in the first year of the program. Medicaid provided access to health care services for certain low-income persons and expanded the existing Federal-State welfare structure that assisted the poor.

The 1972 Social Security Amendments expanded Medicare to provide coverage to two additional high risk groups disabled persons receiving cash benefits for 24 months under the social security program and persons suffering from end-stage renal disease.

...(continued at link)
So Democrats,
YOU ARE RESPONSIBLE
FOR INSURING THE FAILURE
OF THE MEDICARE/MEDICAID PROGRAM,
and now YOU DEMOCRATS ARE RESPONSIBLE FOR THE INTENTIONAL DESTRUCTION OF THE U.S.A. ECONOMU!!!

So DEMOCRATS ... SHUT UP!!!

You have no integrity!!!

[Yosemitest]

Damn typos...

YOU DEMOCRATS ARE RESPONSIBLE FOR THE INTENTIONAL DESTRUCTION OF THE U.S.A. ECONOMY!!!

[TomasUSMC]

Good Stuff on Medifare

[Einigkeit_Recht_Freiheit]

Perhaps you didn’t get the message, but of late it is not possible to post anything on FR that does not EXPLICITLY blame Obama for all the ills in the world. Long-term analysis is only in vogue when a Republican is in the White House.

Basically it is exactly the same at the DU, except the opposite. Frankly, I think you could just take posts from the DU from 2000 - 2008 and change the words Bush to Obama and you would have pretty much FR now (of course without the overt rudeness and swearing - at least conservatives are genteel).

Intelligent debate (and intelligent Freepers) only come out when the GOP is in charge.

I may well even get flamed for this mild observation. Yawn.

[Yosemitest]

Thanks. Feel free to copy and paste, and re-post it anytime.

[caww]

The next President may have to sign a huge stack of new laws just to undo the mess Obama created.

They can start with wiping out the laws that were changed to accomodate this administration. Perhaps a stroke of the new Presidents pen will be sufficient for many of these.