Obama On Pace To Borrow $6.2T...

Discussion in 'Politics' started by paulitician, Jan 13, 2012.

  1. paulitician
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    paulitician Platinum Member Supporting Member

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    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.

    Obama on Pace to Borrow $6.2T in One Term
    DRUDGE REPORT 2012®
     
  2. Decepticon
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    Decepticon BANNED

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    I like how you had to leave out George "W" Bush in your debt statistic.
    Untidy truth?


    [​IMG]
    Gee, looks like MOST of that spending was just fine when BUSH was doing it.
    But now it's a problem. Kinda late to the game, and blaming the wrong guy, aren't you?
     
    Last edited: Jan 13, 2012
  3. paulitician
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    paulitician Platinum Member Supporting Member

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    FLASHBACK: Obama Called Bush Debt Rise 'Unpatriotic.'

    President Obama Thursday quietly notified Congress that the government needs another $1.2 trillion to continue operating.

    That’s both irresponsible and unpatriotic of him.

    How do I know? A presidential candidate named Obama told me.


    [ame=http://www.youtube.com/watch?v=DyLmru6no4U]Senator Obama calls Bush "unpatriotic" for adding trillions to debt www.RightFace.us - YouTube[/ame]

    The new borrowing requested by the CURRENT president would raise the debt ceiling to $16.4 trillion. The debt stood at $10.6 trillion when Obama took office. That’s an increase of $5.8 trillion, nearly $2 trillion more than the “unpatriotic” figure cited by Obama in the video.

    Sure, a portion of the new debt is carryover from the Bush administration. But Obama can still be labeled utterly “irresponsible.” I’m not serious about the “unpatriotic” charge. I don’t call my president unpatriotic, though as you’ve noticed, some people will do that.

    Obama has done nothing during his three years as president to address the central cause of the debt run up – the unsustainable increases in entitlement spending.

    And he has actually worsened the deficit with a feckless $800 billion stimulus bill and a new $1 trillion health care entitlement.

    So this is not the Bush deficit. It is the Obama deficit, and it’s threatening to ruin the country.

    Obama Called Smaller Bush Debt Rise “Unpatriotic” | The Blog on Obama: White House Dossier
    DRUDGE REPORT 2012®
     
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  4. Decepticon
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    Funny, we lose more in TAX FRAUD each year than the ENTIRE MEDICARE program and you're complaining about spending on our citizens? Golly, why aren't you more concerned about people who BREAK THE LAW and don't report their incomes? Kind of disingenuous of you to complain about spending but not complain about people who break the law, isn't it?
     
  5. DontBeStupid
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    DontBeStupid Look it up!

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    Notice how Pauli never says why this is bad. That's because he doesn't know.
     
  6. occupied
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    occupied Gold Member

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    Deficits don't matter.
     
  7. Jarhead
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    Jarhead Gold Member

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    Curious....

    If I borrow money from Paul so I can give that money to Pauls father who is struggling...

    Should I get credit for a job well done from Pauls father and should Paul thank me?

    Just something I thought of as I was thinking about Obama and his request for more "obama money"
     
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  8. DontBeStupid
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    DontBeStupid Look it up!

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    FLASHFORWARD: It's not 2006 any more.
     
  9. occupied
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    occupied Gold Member

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    Questions of morality have no place in conservative politics other than a way to create a smokescreen.
     
  10. Katzndogz
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    Katzndogz Diamond Member

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    He wants another trillion dollars.

    We can't afford that. There is only one outcome, an economy on a par with Zimbabwe.
     

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