Obama Added More to National Debt in First 19 Months Than All Presidents from Washington Through Reagan Combined
Rick Saunders
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. [...]
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 through August), 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.
Lamont Cranston
> http://cnsnews.com/news/article/72404
>
> 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. [...]
That's the price of rescuing the economy from the devastation inflicted
by 8 years of Bush.
Ray Fischer
>http://cnsnews.com/news/article/72404
>
>In the first 19 months of the Obama administration, the federal
CNS are a bunch of liar and religious nutters.
>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. [...]
And ALL of it thanks to George W. Bush
--
Ray Fischer
rfis...@sonic.net
Lamont Cranston
Correct. The debt has increased as a result of falling tax revenues
caused by the second Bush recession.
Rick Saunders
wrote:
> On 9/9/2010 9:43 PM, Ray Fischer wrote:
>
I call bullshit. Let's see some facts, cupcake. Show me yours,
and I'll show you mine.
Ray Fischer
Because you're a rightard.
> Let's see some facts
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200
--
Ray Fischer
rfis...@sonic.net