In 2007 we spent 2.7 trillion and had revenues of 2.54 trillion
In 2010 we spent 3.7 trillion and had revenues of 2.3 trillion
2010 United States federal budget - Wikipedia, the free encyclopedia
2007 United States federal budget - Wikipedia, the free encyclopedia
Cumulative debt has only a small portion added from year to year policy debt until 2009
A year in which we added 2.5 trillion to our accumulation of debt
Over 50% of that was BHO due to massive revenue loss as well as adding 350-400 billion in spending
Now to blame him or GWB in the bubble would be un fair
To blame GWB in the addition of 1 trillion dollars in spending or the GOP (the 07 budget was there last budget) would be a lie
This Washington post graph speaks volumes
The Truth about Obama's Budget Deficits, in Pictures
Also let us not forget that from 1995 thru 2007 with the exception of 01-02 senate, the GOP had congress and during this time policy added a little over 1 trillion dollars, by policy as well each individual budget by the year with surpluses in the late 90s up until 9-11
As far as the over all debt, well that's a much different story that the left seems to think somehow It is the GOPS fault and not interest (until 2007)
09/29/1995 4,973,982,900,709.39
Government - Historical Debt Outstanding - Annual 2000 - 2010
09/30/2007 9,007,653,372,262.48
That is 4 trillion dollars or 4 times the debt the GOP actually added during that time, with BC as our president from 95-01
Now it is obvious the bubble had 50% to do with the 08 (actually 09) thru present day debt
But unlike the previous 12 years (95-07) spending has played a huge part in this rapid increase of debt and deficits year to year
(09-present) debt
09/30/2010 13,561,623,030,891.79
09/30/2009 11,909,829,003,511.75
09/30/2008 10,024,724,896,912.49
We are getting close to 15 trillion now
The one thing the Liberals cannot explain is if policies from the GOP caused this, then why is in 2007 with a real 5% UE rate we where within 163 billion of a balanced budget with 150,000 troops in Iraq?
BHO added 1 trillion dollars from 07-2010, a year in which we had 1/3 the cost in Iraq, if not less (a constitutional mandate, to defend this country)
BHO inherited a 3 trillion dollar budget, he immediately added 350-400 billion in weeks to that and another 400 to 450 billion the following year and has done little to spur any real job growth (revenue loss)
In 2010 we spent 3.7 trillion and had revenues of 2.3 trillion
2010 United States federal budget - Wikipedia, the free encyclopedia
2007 United States federal budget - Wikipedia, the free encyclopedia
Cumulative debt has only a small portion added from year to year policy debt until 2009
A year in which we added 2.5 trillion to our accumulation of debt
Over 50% of that was BHO due to massive revenue loss as well as adding 350-400 billion in spending
Now to blame him or GWB in the bubble would be un fair
To blame GWB in the addition of 1 trillion dollars in spending or the GOP (the 07 budget was there last budget) would be a lie
This Washington post graph speaks volumes
The Truth about Obama's Budget Deficits, in Pictures
Also let us not forget that from 1995 thru 2007 with the exception of 01-02 senate, the GOP had congress and during this time policy added a little over 1 trillion dollars, by policy as well each individual budget by the year with surpluses in the late 90s up until 9-11
As far as the over all debt, well that's a much different story that the left seems to think somehow It is the GOPS fault and not interest (until 2007)
09/29/1995 4,973,982,900,709.39
Government - Historical Debt Outstanding - Annual 2000 - 2010
09/30/2007 9,007,653,372,262.48
That is 4 trillion dollars or 4 times the debt the GOP actually added during that time, with BC as our president from 95-01
Now it is obvious the bubble had 50% to do with the 08 (actually 09) thru present day debt
But unlike the previous 12 years (95-07) spending has played a huge part in this rapid increase of debt and deficits year to year
(09-present) debt
09/30/2010 13,561,623,030,891.79
09/30/2009 11,909,829,003,511.75
09/30/2008 10,024,724,896,912.49
We are getting close to 15 trillion now
The one thing the Liberals cannot explain is if policies from the GOP caused this, then why is in 2007 with a real 5% UE rate we where within 163 billion of a balanced budget with 150,000 troops in Iraq?
BHO added 1 trillion dollars from 07-2010, a year in which we had 1/3 the cost in Iraq, if not less (a constitutional mandate, to defend this country)
BHO inherited a 3 trillion dollar budget, he immediately added 350-400 billion in weeks to that and another 400 to 450 billion the following year and has done little to spur any real job growth (revenue loss)