Deficit

Ok some one post the ACTUAL amount that was added to the deficit while Bush was President.Then the actual amount under Obama.

Please.

 

The problem is that when a president takes office he is operating under a budget passed by the previous Congress and signed by the previous president. So, do you start counting from Jan 20 or from Oct 1st, of his 1st year. Within a couple of months of taking office, Obama signed the Stimulus bill that raised the debt by almost a trillion bucks. That decision was his, not Bush's, and he should be accountable for it.

 

Also, do you include the wars or dont you

 

I have heard 2 wildly different numbers for the deficit under Bush. Someone must have the numbers with a link to back them up.

 

Don't know that it matters, when you spend money you ain't got does it make a difference whether you budgeted for it or not? It's not honest, but it's still more debt.

 

I only said that because some people compare Bush's deficit numbers with the War OFF THE BUDGET to Obama's numbers after having put the Wars back ON the budget.

Some people.


Not all.

 

When President George W. Bush took office, our national debt was $5.768 trillion. By the time Bush left office, it had nearly doubled, to $10.626 trillion. So Bush's record on deficit spending was not good at all: During his presidency, the national debt rose by an average of $607 billion a year. How does that compare to Obama? During Obama's presidency to date, the national debt has risen by an average of $1.723 trillion a year — or by a jaw-dropping $1.116 trillion more, per year, than it rose even under Bush.

 

We're still on for $15k, right sir? If Perry doesn't get the Nod?

 

I read where the debt when Bush took office in 2001 was 5.7 trillion, and was 10.6 trillion on Obama's inuaguration day. Going by those numbers, Bush raised the debt by a bit less than 5 trillion over 8 years. Today we are rapidly approaching 15 trilion in debt by the end of this year, and I would posit that it will exceed 16 trillion by the end of 2012. Therefore, Obama has raised the debt by approx 5.4trillion in 4 years whereas Bush raised it 4.9 trillion in 8 years.


Sorry Lonestar, you beat me to it.

 

Who would of ever imagined that we have a president who has printed up a lot more money than the working population could never keep up with? Think of it in this respect. lets say the government has always had a credit line of 20 Trillion. we borrow a little at a time to maintain the costs. and all of a sudden a new president comes in, there is only 6 trillion dollars left to borrow,,he borrows 5 trillion in three years. now we only have a trillion dollars left on the credit card and that will last 8 months. Then what? you can also compare it to a personal credit line of 50,000. come $49,990,,and you can't pay it back,,,you are screwed forever!