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

[JRK]

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

 

[Ed Spacer]

Holy shit,great op.
let the libs soak it up.

 

[uscitizen]

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?

 

[Erand7899]

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?

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.

 

[Papageorgio]

Three years and the Senate has failed the American people.

 

[Avorysuds]

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?

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.

 

[NYcarbineer]

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

You forgot to include lost revenue from the Bush tax cuts.

 

[francoHFW]

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

 

[JRK]

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?

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.

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

 

[JRK]

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?

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.

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

 

[Avorysuds]

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?

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.

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

You lost me, was that a cut or was that not as much as Obama wanted to spend? If I have 5 dollars but I borrow 5 more every day I normally spend 10 dollars... If I spend 5 dollars and ask for 8 dollars to borrow on top of my five and someone says "you can only borrow 6," did I cut my spending?

 

[JRK]

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.

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

You lost me, was that a cut or was that not as much as Obama wanted to spend? If I have 5 dollars but I borrow 5 more every day I normally spend 10 dollars... If I spend 5 dollars and ask for 8 dollars to borrow on top of my five and someone says "you can only borrow 6," did I cut my spending?

We have a job problem followed closely by a spending problem
The Dems wanted to spend 3.8 trillion on 2011
The house refused and by the time we got to the end of resolutions we had 3.4 trillion in spending
It went un noticed, but it was a start

The deficit is coming from so much of lost revenue as well as Obama adding 500 billion to the base-line in 2009 and 2010
In 2007, the last GOP budget was to spend 2.7 trillion as we did. We took in 2.5 in revenue with a 5% UE
To start with the 8.3% UE is a lie. One proof of that is loss of revenue

we have added 500 bill to the base-line, we have lost 500 bill in revenue
That is the deficit we face each year now

Many including my-self think we should go back to the 07 base-line, add inflation and UE assistance (key to a recovery) and turn the free market loose

Our deficit would be close to 50% of where we are, jobs come back and we finish the war in Afghanistan we stand a chance

 

[JRK]

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?

BHO has added about 700 billion in spending
Just read the thread
600 billion in lost revenue and about the same in budget spending over 08 levels and you have a 1.2 trillion dollar defict

 

[JRK]

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?

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.

Exactly
We were in fine shape when it came to spending until the Dems took over congress
Deficits and spending are 2 completely different animals
No jobs is the reason we are so much trouble as much as massive spending when it comes to the Debt

You want a real gut check on the economy?
That is it in a nut shell
The lack of revenue
we have dropped 500 billion in revenue from 2007

 

[uscitizen]

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?

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.

Exactly
We were in fine shape when it came to spending until the Dems took over congress
Deficits and spending are 2 completely different animals
No jobs is the reason we are so much trouble as much as massive spending when it comes to the Debt

You want a real gut check on the economy?
That is it in a nut shell
The lack of revenue
we have dropped 500 billion in revenue from 2007

HUH?

We nearly doubled the debt under Bush. And a lot of that time was with a republican controlled congress. But now it is all Obama's fault and the Dems?

Poor partisan, poor little partisan sheeple.

Yes we have a spending problem and the republicans are just as much to blame as the dems.
At least the dems do not claim to be the party of fiscal responsibility. But that is a small consolation considering.

 

[JRK]

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.

Exactly
We were in fine shape when it came to spending until the Dems took over congress
Deficits and spending are 2 completely different animals
No jobs is the reason we are so much trouble as much as massive spending when it comes to the Debt

You want a real gut check on the economy?
That is it in a nut shell
The lack of revenue
we have dropped 500 billion in revenue from 2007

HUH?

We nearly doubled the debt under Bush. And a lot of that time was with a republican controlled congress. But now it is all Obama's fault and the Dems?

Poor partisan, poor little partisan sheeple.

Yes we have a spending problem and the republicans are just as much to blame as the dems.
At least the dems do not claim to be the party of fiscal responsibility. But that is a small consolation considering.

To start with over-all debt and policy deficits per physical year are completely 2 different things
In addition as was noted above in an extensive post with the links to back it up, GWB added only 1 trillion to the OVERALL debt. Inherited debt did the rest
and
his is 4 trillion, not 5. the last trillion was BHO in 2009
Stimulus
his 1/2 of tarp as well as massive loss in revenue occurred after BHO was elected
and as of 2007, the last GOP budget only added 2.3 trillion over-all from there firct budget under GWB
from 08 to present that number has went to over 15.5 trillion, or has had close to 5 trillion added sense 08 when the Dems took over congress
Also 50% of the 09 debt is BHO, tarp (his 50%) stimulus (partial) and massive job loss was under his watch (loss of revenue for 2009)
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
09/30/2007 9,007,653,372,262.48
09/30/2006 8,506,973,899,215.23
09/30/2005 7,932,709,661,723.50
09/30/2004 7,379,052,696,330.32
09/30/2003 6,783,231,062,743.62
09/30/2002 6,228,235,965,597.16
09/30/2001 5,807,463,412,200.06
09/30/2000 5,674,178,209,886.86
Government - Historical Debt Outstanding - Annual 2000 - 2010

All of this was covered in the original thread, the only partisan here is others than me
These are the facts, and they are not pretty

I do not blame BHO nor GWB for the massive job loss, the additional 700 billion in spending as well as 0 policies to get the economy back on its feet I do blame BHO

 

[Chris]

The Obama budget deficits originated during the Bush presidency...

1. Tax cuts 2001-2002 (4 trillion over 10 years)
2. Prescription drug benefits (1 trillion over 10 years)
3. Economic meltdown of 2008 ( 3 trillion and rising)
4. Wars in Iraq and Afghanistan (2 trillion and winding down)

 

[Chris]

Without the super committee, the spending cuts start automatically in January of 2013.

When the Bush tax cuts expire in December of 2012, Obama won't allow them to be renewed.

Spending cuts + a return to the old tax rates = deficit reduction.

Congress has been taken out of the equation. No treasonous Tea Party/Republicans to mess things up.

Another brilliant move by Obama.

 

[JRK]

Actually if you go back to the 1995 there was only 4 billion added
except for the senate in 01-02 that entire period was GOP controlled
09/30/1999 5,656,270,901,615.43
09/30/1998 5,526,193,008,897.62
09/30/1997 5,413,146,011,397.34
09/30/1996 5,224,810,939,135.73
09/29/1995 4,973,982,900,709.39
09/30/1994 4,692,749,910,013.3

 

[JRK]

The Obama budget deficits originated during the Bush presidency...

1. Tax cuts 2001-2002 (4 trillion over 10 years)
2. Prescription drug benefits (1 trillion over 10 years)
3. Economic meltdown of 2008 ( 3 trillion and rising)
4. Wars in Iraq and Afghanistan (2 trillion and winding down)

Chris explain to us why deficit for 2007 was 163 billion?
explain to us why the debt from 1995 thru 2007, DEBT grew 4 trillion dollars?
Most all of that is from inherited interest Jake
Blows your thread out of the water

FACTS jake

09/30/1999 5,656,270,901,615.43
09/30/1998 5,526,193,008,897.62
09/30/1997 5,413,146,011,397.34
09/30/1996 5,224,810,939,135.73
09/29/1995 4,973,982,900,709.39
09/30/1994 4,692,749,910,013.3

09/30/2007 9,007,653,372,262.48
09/30/2006 8,506,973,899,215.23
09/30/2005 7,932,709,661,723.50
09/30/2004 7,379,052,696,330.32
09/30/2003 6,783,231,062,743.62
09/30/2002 6,228,235,965,597.16
09/30/2001 5,807,463,412,200.06
09/30/2000 5,674,178,209,886.86