Obama: 2 Trillion In 421 Days.

Discussion in 'Politics' started by US Army Retired, Mar 18, 2010.

  1. US Army Retired

    US Army Retired BANNED

    Jan 17, 2010
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    Like Sarah Palin once said, how is that Hope & Change working out for you? My fellow Americans, common sense ought to tell you where he is taking this nation and it is not good. Folks we can't last not even another year with this communist at the helm. What's next? Amnesty for 11 million new voters who are ready to replace the disgruntled voters who are against the Health Care Bill. Allowing them to become citizens will mean more government handouts and services. It means America as it once was will be history. How much is 2 trillion Dollars? If you piled $1000 bills one on top of the other, a stack of them worth a 2 trillion would be 134 miles high.

    Obama: $2 trillion in 421 Days. « NEOAVATARA

    Yup, that is right. That is $4,750,593,824.23 a day.

    From CBS News:

    The latest posting from the Treasury Department shows the National Debt has increased over $2 trillion since President Obama took office.
    The debt now stands at $12.6 trillion. On the day Mr. Obama took office it was $10.6 trillion.

    President George W. Bush still holds the record for the most debt run up on his watch: $4.9 trillion. But it took him over four years to rack up the first two trillion dollars in debt. It has taken Mr. Obama 421 days.
    But the Obama Administration routinely blames the Bush Administration for inheriting a budget surplus and turning it into years of record-breaking deficits and debt — and then leaving it on the doorstep of the new president.

    Republicans ran up the $2 trillion in debt in those first five years. Of course, Democrats controlled the Senate for much of 2001-2003. And Democrats controlled Congress from 2007 to the present. And although Obama likes to blame Bush for the deficit in 2009, George Bush never saw the FY2009 budget, as the Democrats passed continuing resolutions to fund the government. Obama signed an omnibus spending bill in March 2009 to finalize that year’s budget.

    Just to put it into perspective:
    From 1/20/2001 to 1/2/2007, when Republicans largely controlled the Congress, they were responsible for adding $2.95 trillion to the national debt in six years.
    Democratic control since the 2006 midterms (from 1/2/2007 forward) added $3.96 trillion in just over three years.
    Republican rate of debt: $41 billion per month (control of Congress)
    Democratic rate of debt: $104 billion per month (control of Congress)
    And Democrats want you to believe that the Republicans were worse.
  2. boedicca

    boedicca Uppity Water Nymph Supporting Member

    Feb 12, 2007
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    The Land of Funk
    Another way to look at this is that Obama is transforming the economy - and not in a good way.

    Instead of managing the size of the government to the 20% of GDP goal of the past few decades (which itself is too high, imo), his spending programs will increase that by more 25%, to 25%+ of GDP. There are some forecasters putting the increase at close to 30% of GDP.

    This is why private jobs creations is virtually nonexistent.

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