111th Congress added more debt than first 100 Congresses COMBINED

[NYcarbineer]

Obama is attempting to reverse the method of castrating the other party, called "Starving the Beast" which is usually the method of the Republicans. It's been turned on them and they do not like it as this means that when they get into office, there's not much money around for what the Dems call aggressive war.

I will be interested to see how the Republicans extricate themselves from this 'choking off' when next in power.

Interesting times ahead.

Starve the beast

Starving the beast can get pretty interesting.

Starving the beast has never worked, it's not working, and it can never work.

The beast has a credit card.

 

[kiwiman127]

Your 1st link don't even work.

Even if your "info" is accurate, Obama is also well positioned to dwarf GWB's debt @ record pace and level, just as he has his deficits.

yes Obama will, but he inherited a running budget deficit of nearly 1.5 trillion from the last budget of President Bush......he STARTED with that....his first fiscal budget that just ended, he reduced the running deficit by about 100 billion....but this year it is estimated that it will go back up to the all time high under Bush or even higher perhaps?

whereas President Bush began with a running budget with +/-100 billion SURPLUS.....

I covered that misconception in my big post tho. This just further tells me that no one even bothered to read it and just wants to make shit up.

Again:

These are the true deficits: Bush $800B, Obama $1.4T
By Dick Morris - 02/02/10 06:37 PM ET

President Barack Obama is being disingenuous when he says that the budget deficit he faced “when I walked in the door” of the White House was $1.3 trillion. He went on to say that he only increased it to $1.4 trillion in 2009 and was raising it to $1.6 trillion in 2010.

Rep. Joe Wilson (R-S.C.) might have said, “You lie,” but we’ll settle for “You distort.”

(As Mark Twain once said, there are three kinds of lies: “lies, damn lies and statistics.”)

Here are the facts:

In 2008, George W. Bush ran a deficit of $485 billion. By the time the fiscal year started, on Oct. 1, 2008, it had gone up by another $100 billion due to increased recession-related spending and depressed revenues. So it was about $600 billion at the start of the fiscal crisis. That was the real Bush deficit.

But when the fiscal crisis hit, Bush had to pass the Troubled Asset Relief Program (TARP) in the final months of his presidency, which cost $700 billion. Under the federal budget rules, a loan and a grant are treated the same. So the $700 billion pushed the deficit — officially — up to $1.3 trillion. But not really. The $700 billion was a short-term loan. $500 billion of it has already been repaid.

So what was the real deficit Obama inherited? The $600 billion deficit Bush was running plus the $200 billion of TARP money that probably won’t be repaid (mainly AIG and Fannie Mae and Freddie Mac). That totals $800 billion. That was the real deficit Obama inherited.

Then … he added $300 billion in his stimulus package, bringing the deficit to $1.1 trillion. This $300 billion was, of course, totally qualitatively different from the TARP money in that it was spending, not lending. It would never be paid back. Once it was out the door, it was gone. Other spending and falling revenues due to the recession pushed the final numbers for Obama’s 2009 deficit up to $1.4 trillion.

So, effectively, Obama came close to doubling the deficit.

These are the true deficits: Bush $800B, Obama $1.4T - TheHill.com

What a crock!
From the conservative Cato Institute!

Don’t Blame Obama for Bush’s 2009 Deficit

Listening to a talk radio program yesterday, the host asserted that Obama tripled the budget deficit in his first year. This assertion is understandable, since the deficit jumped from about $450 billion in 2008 to $1.4 trillion in 2009. As this chart illustrates, with the Bush years in green, it appears as if Obama’s policies have led to an explosion of debt.
[chart]

. . . But there is one rather important detail that makes a big difference. The chart is based on the assumption that the current administration should be blamed for the 2009 fiscal year. While this makes sense to a casual observer, it is largely untrue. The 2009 fiscal year began October 1, 2008, nearly four months before Obama took office. The budget for the entire fiscal year was largely set in place while Bush was in the White House


Don’t Blame Obama for Bush’s 2009 Deficit | Cato @ Liberty

 

[pubrela]

Yep...and they continue to spend

 

[Lasher]

Take a gooood gander there lefties. While I'm sure this type of fiscal suicide pleases yall in the name of some type of "equality", I would still like to see yall explain away this insanity, or still, somehow claim that this treasonous, socialist, epic fail is ANYTHING other than THAT.


(CNSNews.com) - The federal government has accumulated more new debt--$3.22 trillion ($3,220,103,625,307.29)—during the tenure of the 111th Congress than it did during the first 100 Congresses combined, according to official debt figures published by the U.S. Treasury.

That equals $10,429.64 in new debt for each and every one of the 308,745,538 people counted in the United States by the 2010 Census.

The total national debt of $13,858,529,371,601.09 (or $13.859 trillion), as recorded by the U.S. Treasury at the close of business on Dec. 22, now equals $44,886.57 for every man, woman and child in the United States.

In fact, the 111th Congress not only has set the record as the most debt-accumulating Congress in U.S. history, but also has out-stripped its nearest competitor, the 110th, by an astounding $1.262 trillion in new debt.

111th Congress Added More Debt Than First 100 Congresses Combined: $10,429 Per Person in U.S. | CNSnews.com

__________________
"THIS is what a young, urban, Latino, GAY REPUBLICAN looks like now adays."-ME
"THERE IS 1 GOD, HE IS YAHWEH. THE ONLY WAY TO HIM IS THRU HIS SON, JESUS CHRIST. FIND HIM BY FOLLOWING THE HOLY SPIRIT. OR FOLLOW YOURSELF TO HELL MOTHERFUCKER."-ME

Just curious - does all this self-deprecation really apply to you, and why do you find it necessary to let everyone here know these facts?

 

[Polk]

The OP is a great mathematician. He found a way to make 3.5 trillion greater than 10 trillion.

 

[Modbert]

Yep...and they continue to spend

And that was your contribution as to why a 7 month old dead thread had to be necro'ed?

 

[CountofTuscany]

Take a gooood gander there lefties. While I'm sure this type of fiscal suicide pleases yall in the name of some type of "equality", I would still like to see yall explain away this insanity, or still, somehow claim that this treasonous, socialist, epic fail is ANYTHING other than THAT.


(CNSNews.com) - The federal government has accumulated more new debt--$3.22 trillion ($3,220,103,625,307.29)—during the tenure of the 111th Congress than it did during the first 100 Congresses combined, according to official debt figures published by the U.S. Treasury.

That equals $10,429.64 in new debt for each and every one of the 308,745,538 people counted in the United States by the 2010 Census.

The total national debt of $13,858,529,371,601.09 (or $13.859 trillion), as recorded by the U.S. Treasury at the close of business on Dec. 22, now equals $44,886.57 for every man, woman and child in the United States.

In fact, the 111th Congress not only has set the record as the most debt-accumulating Congress in U.S. history, but also has out-stripped its nearest competitor, the 110th, by an astounding $1.262 trillion in new debt.

111th Congress Added More Debt Than First 100 Congresses Combined: $10,429 Per Person in U.S. | CNSnews.com

And they still have more time to rack up more.