The truth about Debt, Deficit and the inheritance of 1.7 trillion

Discussion in 'Politics' started by JRK, Apr 24, 2012.

  1. JRK
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    JRK Senior Member

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    I keep reading this threads that state GWB added 5 billion dollars to the national Debt.
    1 trillion in added budget with 3 trillion from previous debt in interest (including his 1 trillion)
    follow along
    The senate in 01-02 was controlled by the Dems and congress from 07 through the end of his presidency

    The truth is that his (GWB) policies added 700 billion through 2008
    Now this is spending, not deficit. This is key
    From 2008 thru 2009 we went from a spending of 2.9 trillion to 3.5 trillion in 2009
    most of that raise in spending was BHO (stimulus and 50% of tarp) as GWB had budgeted spending of 3.1
    we will split 2009 spending addition with GWB and BHO

    2008 United States federal budget - Wikipedia, the free encyclopedia base line 2008
    2009 United States federal budget - Wikipedia, the free encyclopedia added 600 billion from 08
    2010 United States federal budget - Wikipedia, the free encyclopedia added 800 billion from 2008 spending levels and 200 billion from 2009, but in reality he added 500 billion to GWB 09 spending levels
    2011 United States federal budget - Wikipedia, the free encyclopedia added 300 billion from 08 levels and had a cut of 300 billion from 2010

    lets make it simple
    2008 spending was 2.9 trillion, GWB had added 700 billion to the federal budget to here from his first budget
    2009 spending was 3.5 trillion, GWB had added about 1 trillion to the budget, ends his total addition here
    BHO 300 billion, his begins
    2010 spending was 3.7 trillion BHO had added 600 billion from GWB 09 levels
    2011 spending was cut by the GOP house to 3.4 trillion from BHO request of 3.8 trillion

    simply put GWB total additions to the federal budget was 1 trillion dollars
    BHO to date has added 600 billion in 2.5 years

    GWB had 9-11
    2 wars
    Katrina and 5 other major hurricanes
    as I recall 3 stimulus with all of them going to the tax payer
    Medicare part D
    No child left behind

    BHO had both wars but Iraq was far below the levels of GWB presidency
    The Katrina expense is gone
    Medicare part D is still there
    no child left behind as I recall was extended

    It is a common thread from the libs that GWB added 5 trillion dollars to the defict in his time
    The truth is it closer to 4 trillion as the 09 debacle is at least 50% of BHO, This would include interest on debt for both

    President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt)
    The Truth about Obama's Budget Deficits, in Pictures

    Now we can talk deficits from yearly budgets
    simply put the 07 budget had a deficit of 163 billion, the last GOP budget
    2007 United States federal budget - Wikipedia, the free encyclopedia

    We went to a 450 billion dollar deficit in 08 (see above)
    1.3 trillion in 09 Link above
    same for 2010 Link above
    about 1.1 trillion in 2011

    The key here is BHO reset the budget base-line in 2009. If not for the GOP house on 2010 the 2011 base line would have grown another 300 billion.

    In summary
    GWB added 1 trillion dollars in spending thru 8 years
    BHO has added 600 billion in 2.5 years, with the GOP house cutting 200 billion in spending in 2011

    GWB added 4 trillion total debt in his 8 years to include interest on inherited debt
    to date BHO had added about the same
    Government - Historical Debt Outstanding - Annual 2000 - 2010


    This graph by the Washington Post shows this yearly debt better than I can explain it
    The Truth about Obama's Budget Deficits, in Pictures

    Most all of this came under Dem control of congress
    Increase spending has done little to create jobs
    In BHO defense the crash in 08 was not his fault, nor was it GWB either

    spending is the problem, and the 09 budget was were it got of control

    Many including my self think the 2007 budget baseline is the place to start
     
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    Last edited: Apr 25, 2012
  2. Ed Spacer
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    Ed Spacer BANNED

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    Holy shit,great op.
    let the libs soak it up.
     
  3. uscitizen
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    uscitizen Senior Member

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    So by that logic with the republicans controlling the house since 10?
    How much of the debt is Obamas?

    do you stay dizzy from all the spinning?
     
  4. Erand7899
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    Erand7899 VIP Member

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    If the Senate (controlled by Democrats) had actually passed a budget, especially one passed by the House, you might have a point. But, Harry Reid does not want the Democrats in the Senate to vote on anything that the public could hold them to.

    Consequently, the House is forced to agree to continuing resolutions to keep the government funded.
     
  5. Papageorgio
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    Papageorgio The Ultimate Winner

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    Three years and the Senate has failed the American people.
     
  6. Avorysuds
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    Avorysuds Gold Member

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    I saw that too...

    The real answer is both Reps and Dems added vastly o the deficit, neither shrunk the deficit when they had power. Reps might be SLIGHTLY better about not spending as MUCH, but it's still a losing hand.
     
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  7. NYcarbineer
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    NYcarbineer Diamond Member

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    You forgot to include lost revenue from the Bush tax cuts.
     
  8. francoHFW
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    francoHFW Platinum Member

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    Total Pubcrappe. LOL. How much debt is Voodoo responsible for- and the ruin of the country bother you much? see sig pp1. Good night.
     
  9. JRK
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    JRK Senior Member

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    If you look at the 2011 budget you will see BHO requested 3.8 trillion and you will see that he ended up getting 3.4
    The first year we cut spending in god knows when
     
  10. JRK
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    JRK Senior Member

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    A very good point
    The House by fighting the spending hikes BHO had asked for cut spending by 500 billion in 2011, refer to the links herein
     

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