Deficit

[RetiredGySgt]

Ok some one post the ACTUAL amount that was added to the deficit while Bush was President.Then the actual amount under Obama.

Please.

 

[Wiseacre]

The problem is that when a president takes office he is operating under a budget passed by the previous Congress and signed by the previous president. So, do you start counting from Jan 20 or from Oct 1st, of his 1st year. Within a couple of months of taking office, Obama signed the Stimulus bill that raised the debt by almost a trillion bucks. That decision was his, not Bush's, and he should be accountable for it.

 

[G.T.]

Also, do you include the wars or dont you

 

[RetiredGySgt]

I have heard 2 wildly different numbers for the deficit under Bush. Someone must have the numbers with a link to back them up.

 

[Wiseacre]

Also, do you include the wars or dont you

Don't know that it matters, when you spend money you ain't got does it make a difference whether you budgeted for it or not? It's not honest, but it's still more debt.

 

[G.T.]

Also, do you include the wars or dont you

Don't know that it matters, when you spend money you ain't got does it make a difference whether you budgeted for it or not? It's not honest, but it's still more debt.

I only said that because some people compare Bush's deficit numbers with the War OFF THE BUDGET to Obama's numbers after having put the Wars back ON the budget.

Some people.


Not all.

 

[Lonestar_logic]

When President George W. Bush took office, our national debt was $5.768 trillion. By the time Bush left office, it had nearly doubled, to $10.626 trillion. So Bush's record on deficit spending was not good at all: During his presidency, the national debt rose by an average of $607 billion a year. How does that compare to Obama? During Obama's presidency to date, the national debt has risen by an average of $1.723 trillion a year — or by a jaw-dropping $1.116 trillion more, per year, than it rose even under Bush.

 

[G.T.]

When President George W. Bush took office, our national debt was $5.768 trillion. By the time Bush left office, it had nearly doubled, to $10.626 trillion. So Bush's record on deficit spending was not good at all: During his presidency, the national debt rose by an average of $607 billion a year. How does that compare to Obama? During Obama's presidency to date, the national debt has risen by an average of $1.723 trillion a year — or by a jaw-dropping $1.116 trillion more, per year, than it rose even under Bush.

We're still on for $15k, right sir? If Perry doesn't get the Nod?

 

[Wiseacre]

I read where the debt when Bush took office in 2001 was 5.7 trillion, and was 10.6 trillion on Obama's inuaguration day. Going by those numbers, Bush raised the debt by a bit less than 5 trillion over 8 years. Today we are rapidly approaching 15 trilion in debt by the end of this year, and I would posit that it will exceed 16 trillion by the end of 2012. Therefore, Obama has raised the debt by approx 5.4trillion in 4 years whereas Bush raised it 4.9 trillion in 8 years.


Sorry Lonestar, you beat me to it.

 

[Teals_Of_Wonder]

Who would of ever imagined that we have a president who has printed up a lot more money than the working population could never keep up with? Think of it in this respect. lets say the government has always had a credit line of 20 Trillion. we borrow a little at a time to maintain the costs. and all of a sudden a new president comes in, there is only 6 trillion dollars left to borrow,,he borrows 5 trillion in three years. now we only have a trillion dollars left on the credit card and that will last 8 months. Then what? you can also compare it to a personal credit line of 50,000. come $49,990,,and you can't pay it back,,,you are screwed forever!

 

[bitterlyclingin]

(Gunny, fr doesn't keep track of Bush's deficits the same way it does Obama's. "I'll be back")


"The 2011 budget deficit for the federal government is $1.299 trillion according to numbers just released by the U.S. Treasury. That is the second highest deficit in history. In fact, Barack Obama now has the dubious distinction of the three highest deficits all happening on his watch.

From the Hill:


The U.S budget deficit for fiscal year 2011 is $1.299 trillion, the second largest shortfall in history.

The nation only ran a larger deficit for the 2009 fiscal year, which included the dramatic collapse of financial markets and a huge bailout effort by the government. The nation's deficit that year was $1.412 trillion.

This year's deficit is slightly higher than fiscal year 2010, when the nation ran a $1.293 trillion deficit. Fiscal years run through Sept. 30.

Obama will likely make it four in a row one year from now as his own budget shop is estimating a $1.1 trillion deficit for 2012.

The 2009 deficit still holds the record at $1.412 trillion. In 2010 the deficit reached $1.293. In just three years, more than $4 trillion of red ink has been added to the debt. The government's fiscal year ends September 30.

Prior to the Obama Administration, the largest nominal deficit ever recorded was $458 billion in 2008, the last year of the Bush Administration. That is barely one-third of each of the Obama Administration's dubious deficit records.

Barely a month into office back in 2009, the ever-confident Obama promised "to cut the deficit we inherited in half by the end of my first term in office." "

Official: Obama Owns Three Largest Deficits Ever - Bob Beauprez - Townhall Finance

 

[Lonestar_logic]

When President George W. Bush took office, our national debt was $5.768 trillion. By the time Bush left office, it had nearly doubled, to $10.626 trillion. So Bush's record on deficit spending was not good at all: During his presidency, the national debt rose by an average of $607 billion a year. How does that compare to Obama? During Obama's presidency to date, the national debt has risen by an average of $1.723 trillion a year — or by a jaw-dropping $1.116 trillion more, per year, than it rose even under Bush.

We're still on for $15k, right sir? If Perry doesn't get the Nod?

Yes

 

[G.T.]

When President George W. Bush took office, our national debt was $5.768 trillion. By the time Bush left office, it had nearly doubled, to $10.626 trillion. So Bush's record on deficit spending was not good at all: During his presidency, the national debt rose by an average of $607 billion a year. How does that compare to Obama? During Obama's presidency to date, the national debt has risen by an average of $1.723 trillion a year — or by a jaw-dropping $1.116 trillion more, per year, than it rose even under Bush.

We're still on for $15k, right sir? If Perry doesn't get the Nod?

Yes

Alright, cool.

I actually enjoyed his back and forth last night, he didn't take shit from that weasel Romney

 

[bitterlyclingin]

(Very visible graphs of Bush's deficits vs Obama's first two years deficits in this one)

"“Eight years of deficits averaging 2.0 percent of GDP, followed by a horrible ninth year as the markets collapsed and the economy plunged into recession. Before the crash of late 2008 President Bush’s budget deficits were 0.6 percentage points smaller than the historic average. Deficits did not “spiral” during the Bush presidency or the decade. They bumped around the historic average, then spiked up in the last year.”"

Obama

 

[Lonestar_logic]

We're still on for $15k, right sir? If Perry doesn't get the Nod?

Yes

Alright, cool.

I actually enjoyed his back and forth last night, he didn't take shit from that weasel Romney

I think and have always thought that Newt would make the best President. But he won't get enough support to win the nomination.

 

[iamwhatiseem]

But...but...the spending saved the economy!!!

 

[Lonestar_logic]

But...but...the spending saved the economy!!!

Thanks Harry, now go sit down.




Good boy.

 

[Care4all]

the national debt the day before president bush's first fiscal budget was $5.8 trillion on 9/30/2001.

after 8 fiscal budgets years, the national debt was $11.9 trillion on 9/30/2009.

under president bush's 8 fiscal years attributed to him, $6.1 trillion was added to the national debt.


-------------------------------

president obama's first fiscal budget, began with 11.9 trillion in debt on 9/30/2009

fiscal 2011 ending 9/30/2011 it was $14.7



president Bush's last fiscal budget added $1.88 Trillion to the National Debt...this is the running deficit that president obama inherited from the previous president.

president clinton left president bush with approximately a 120 billion dollars added to the national debt, this is what pres bush began with....*

You can argue that president obama added a 760 billion stimulus bill in April or may of that year that was president bush's last fiscal year....but you would be wrong....

it takes forever to push out the money given in a stimulus and this stimulus was not passed till May, ALSO this stimulus was a 2 YEAR STIMULUS and not even a Quintilla was distributed before president bush's fiscal end....

And you can also argue that when president bush took office he had his congress pass a stimulus bill that included tax rebates for all of us for $300 per person, that was distributed that august of 2001, which was even greater than the stimulus obama was able to get in to the last fiscal year of bush's which was included in President Clinton's last fiscal year that should have been added to money that Pres bush had spent..*.but it wasn't because that fiscal year belongs to clinton, as fiscal 2009 belongs to president Bush.

links to the figures above...

Government - Historical Debt Outstanding - Annual 2000 - 2010

http://www.treasurydirect.gov/govt/reports/pd/mspd/2011/opds092011.prn

 

[RetiredGySgt]

the national debt the day before president bush's first fiscal budget was $5.8 trillion on 9/30/2001.

after 8 fiscal budgets years, the national debt was $11.9 trillion on 9/30/2009.

under president bush's 8 fiscal years attributed to him, $6.1 trillion was added to the national debt.


-------------------------------

president obama's first fiscal budget, began with 11.9 trillion in debt on 9/30/2009

fiscal 2011 ending 9/30/2011 it was $14.7



president Bush's last fiscal budget added $1.88 Trillion to the National Debt...this is the running deficit that president obama inherited from the previous president.

president clinton left president bush with approximately a 120 billion dollars added to the national debt, this is what pres bush began with....*

You can argue that president obama added a 760 billion stimulus bill in April or may of that year that was president bush's last fiscal year....but you would be wrong....

it takes forever to push out the money given in a stimulus and this stimulus was not passed till May, ALSO this stimulus was a 2 YEAR STIMULUS and not even a Quintilla was distributed before president bush's fiscal end....

And you can also argue that when president bush took office he had his congress pass a stimulus bill that included tax rebates for all of us for $300 per person, that was distributed that august of 2001, which was even greater than the stimulus obama was able to get in to the last fiscal year of bush's which was included in President Clinton's last fiscal year that should have been added to money that Pres bush had spent..*.but it wasn't because that fiscal year belongs to clinton, as fiscal 2009 belongs to president Bush.

links to the figures above...

Government - Historical Debt Outstanding - Annual 2000 - 2010

http://www.treasurydirect.gov/govt/reports/pd/mspd/2011/opds092011.prn

Obama not Bush signed off on the bail out, that does not count against Bush, it counts against Obama.

 

[Care4all]

the national debt the day before president bush's first fiscal budget was $5.8 trillion on 9/30/2001.

after 8 fiscal budgets years, the national debt was $11.9 trillion on 9/30/2009.

under president bush's 8 fiscal years attributed to him, $6.1 trillion was added to the national debt.


-------------------------------

president obama's first fiscal budget, began with 11.9 trillion in debt on 9/30/2009

fiscal 2011 ending 9/30/2011 it was $14.7



president Bush's last fiscal budget added $1.88 Trillion to the National Debt...this is the running deficit that president obama inherited from the previous president.

president clinton left president bush with approximately a 120 billion dollars added to the national debt, this is what pres bush began with....*

You can argue that president obama added a 760 billion stimulus bill in April or may of that year that was president bush's last fiscal year....but you would be wrong....

it takes forever to push out the money given in a stimulus and this stimulus was not passed till May, ALSO this stimulus was a 2 YEAR STIMULUS and not even a Quintilla was distributed before president bush's fiscal end....

And you can also argue that when president bush took office he had his congress pass a stimulus bill that included tax rebates for all of us for $300 per person, that was distributed that august of 2001, which was even greater than the stimulus obama was able to get in to the last fiscal year of bush's which was included in President Clinton's last fiscal year that should have been added to money that Pres bush had spent..*.but it wasn't because that fiscal year belongs to clinton, as fiscal 2009 belongs to president Bush.

links to the figures above...

Government - Historical Debt Outstanding - Annual 2000 - 2010

http://www.treasurydirect.gov/govt/reports/pd/mspd/2011/opds092011.prn

Obama not Bush signed off on the bail out, that does not count against Bush, it counts against Obama.

oh bull crud...

no new ceo of any corporation gets credited with the problems of the previous ceo....they get at least a year's grace period, before they are blamed for the bad numbers....even with them taking actions....or finishing actions started by the previous ceo.

but if you want to give only 7 years spending to bush instead of his 8 years then, by all means, play with the numbers and pretend he was only president for 7 years....i can't stop you from being foolish....

$1.9 trillion was added to the national debt president bush's last year...take 300 billion out on obama stimulus if you want to play that game, but then add 300 billion back to bush spending he controlled the first 8 months before clinton's fiscal budget end....that he added to the clinton fiscal budget...

but again, that's bull crud.