Obama on Pace to Borrow $6.2T in One Term

Discussion in 'Politics' started by bripat9643, Jan 14, 2012.

  1. bripat9643
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    bripat9643 Diamond Member

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    Obama on Pace to Borrow $6.2T in One Term

    Obama on Pace to Borrow $6.2T in One Term—More Than All Presidents from Washington Through Clinton Combined
    By Terence P. Jeffrey

    January 13, 2012

    (CNSNews.com) - President Barack Obama has been increasing the national debt during his presidency by an average of $4.24 billion per day ($4,240,506,004.34) putting him on a pace to increase the national debt by $6.2 trillion ($6,195,379,272,340.74) by the end of his term on Jan. 20, 2013, according to the debt figures published by the U.S. Treasury.

    That $6.2 trillion is more debt than was accumulated by all U.S. presidents from George Washington through Bill Clinton combined.

    In fact, the U.S. national debt did not eclipse the $6.195 trillion level—the amount Obama is on pace to increase it in one term—until August 19, 2002, during President George W. Bush’s second year of office.

    The national debt was $10.6 trillion ($10,626,877,048,913.08) on Jan. 20, 2009, the day Obama was inaugurated. As of the close of business on Jan. 11, 2012, it was $15.2 trillion ($15,236,307,075,631.58.) In Obama’s first 1,087 days in office, the debt increased $4.6 trillion ($4,609,430,026,718.50)—or an increase of $4.24 billion ($4,240,506,004.34) per day.

    At that daily rate, the debt would increase a total of $6.2 trillion ($6,195,379,272,340.74) over the entire 1,461 days of Obama’s four year term.

    At the close of business Aug. 19, 2002, the total national debt was $6.195 trillion.
     
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  2. occupied
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    occupied Gold Member

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    You are just envious of that kind of borrowing power.
     
  3. Matthew
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    Matthew Blue dog all the way!

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    Truly disgusting. This alone should make him UNELECTABLE!
     
  4. Rozman
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    Rozman Gold Member Supporting Member

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    There seems to be a dispute here...
    I have seen a few posts the last few days
    from our lefty friends stating that Reagan,the first Bush
    and W.were the ones that put us in debt.
    I guess their point was that Obama has not spent one more
    penny then the government took in in revenue.

    I don't know...someone is not presenting the truth here.
     
  5. LoneLaugher
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    LoneLaugher Diamond Member

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    Obama cannot borrow 10 cents. You fake originalists should know that. The rules require that someone else do that borrowing. Ducking fummies.
     
  6. bripat9643
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    bripat9643 Diamond Member

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    Bush borrows $5 trillion in two terms - evil
    Obama borrows $6.2 trillion in term - good.
     
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  7. free_speech
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    free_speech Member

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    Bush is making him do it! :lol:
     
  8. Chris
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    Chris Gold Member

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    [​IMG]
     
  9. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    But if he gets his way, Obama's gonna' cut $250 Million off the budget next year!






























































    [​IMG]
     
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  10. ilia25
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    ilia25 I can do math

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    Yes, actually. Government spending have not risen all that much during Obama presidency. But the government revenues shrank with the economy, and we know who was in the office when the recession had started. So Obama had no choice but to borrow in order to compensate for the lost revenue.
     

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