How Are We Gonna Pay for the $7.9 Trillion that Obama Added to the National Debt?

[Mac1958]

So, according to your own numbers:
The Dem presidents have added an average of of 6.25% (with the 32% added by Clinton) to the national debt per year. The Repubs presidentes have added an average of 17.05% to the national debt per year. Yet somehow a great many people think the Dems alone are the problem.

Not to mention the fact that, under Obama, the Fed had to pour $4+ TRILLION into markets to stabilize the Meltdown he inherited. And I do mean "had to". Those who try to claim that Fed intervention was unnecessary are simply speaking out of willful ignorance.

For the Republicans who point with disdain at their own party for many of our fiscal problems, bravo. But otherwise, the GOP is every bit as much to blame for this fucking mess that our children have inherited from us, if not more.
.

Fed does not control fiscal policy, only monetary.

What they do cannot be connected to budgets in any direct way.

Yes, I know. I'm in the profession. My point is that the politicians control fiscal policy, which often ultimately creates monetary reactions by the Fed.
.

 

[AntonToo]

So, according to your own numbers:
The Dem presidents have added an average of of 6.25% (with the 32% added by Clinton) to the national debt per year. The Repubs presidentes have added an average of 17.05% to the national debt per year. Yet somehow a great many people think the Dems alone are the problem.

Not to mention the fact that, under Obama, the Fed had to pour $4+ TRILLION into markets to stabilize the Meltdown he inherited. And I do mean "had to". Those who try to claim that Fed intervention was unnecessary are simply speaking out of willful ignorance.

For the Republicans who point with disdain at their own party for many of our fiscal problems, bravo. But otherwise, the GOP is every bit as much to blame for this fucking mess that our children have inherited from us, if not more.
.

Fed does not control fiscal policy, only monetary.

What they do cannot be connected to budgets in any direct way.

Yes, I know. I'm in the profession. My point is that the politicians control fiscal policy, which often ultimately creates monetary reactions by the Fed.
.

Well it sure reads like you are saying that this 4T dollars was part of the deficits/debt, which could mislead people.

 

[Rustic]

Bush jr spent far too much on foreign aid... a total waste of money and resources

Which was how much?

Does it matter? It was a waste thats what career politicians do....

 

[BluesLegend]

Bush jr spent far too much on foreign aid... a total waste of money and resources

Which was how much?

Does it matter? It was a waste thats what career politicians do....

We now have $20 trillion in debt, what did we get for all that money?

 

[Faun]

Bush jr spent far too much on foreign aid... a total waste of money and resources

Which was how much?

Does it matter? It was a waste thats what career politicians do....

We now have $20 trillion in debt, what did we get for all that money?

Donald Trump.

 

[Rustic]

Bush jr spent far too much on foreign aid... a total waste of money and resources

Which was how much?

Does it matter? It was a waste thats what career politicians do....

We now have $20 trillion in debt, what did we get for all that money?

Donald Trump.

True, More than 100 years of career politicians have resulted in this… Never trust a federal civilian official/career politicians

 

[mikegriffith1]

Not to mention the fact that, under Obama, the Fed had to pour $4+ TRILLION into markets to stabilize the Meltdown he inherited. And I do mean "had to". Those who try to claim that Fed intervention was unnecessary are simply speaking out of willful ignorance.

Yikes, where do you get the figure of $4T for the TARP bailout? I've never seen a figure higher than $800 billion for TARP, and the banks paid back much of the money. Most sources put the number at closer to $700 billion:

Did TARP Help You or the Banks?

For the Republicans who point with disdain at their own party for many of our fiscal problems, bravo. But otherwise, the GOP is every bit as much to blame for this mess that our children have inherited from us, if not more.

Not on this planet. Not since 2009. The Democrats have behaved with reckless abandon on spending, and the Republicans have repeatedly tried to impose badly needed fiscal restraint but can't as long as Dems threaten to filibuster the budget and as long as a handful of weak moderate Republicans can't bring themselves to vote with their party to stop the fiscal madness.

You guys can dance all day and night, but the fact remains that Obama added $7.9 trillion to the debt for no good reason and with pitiful results for the economy.

 

[CowboyTed]

Bush jr spent far too much on foreign aid... a total waste of money and resources

Foreign Aid is minuscule compared to the stupid tax cuts during a war...

Lets make it nice and clear, Bush started two unfunded wars while giving out tax cuts... This overheated the economy to cause the worst financial crisis since the Great Depression.

Obama had very little choices:

• Borrow and pump the economy and get a stuttering growth
• Let the economy into a Depression

Thankfully he has sanity and picked the first.

I know our little RWNJs here want to critize him for everything but Bush drove the bus off the cliff.

Obama legacy will be a safe pair of hands between to awful presidents.

 

[sealybobo]

Predictably, liberals here are screaming about how we're gonna "pay for" the $1.4 trillion that the Trump tax cuts are returning to the American people, while they refuse to admit that federal revenue has increased after every major tax cut since the early 1900s.

Well, I would like liberals to explain how we're gonna pay for the $7.9 trillion that Obama added to the national debt. Just to be extra fair, this is not counting Obama's first year, because, technically, it was operating under Bush's last budget (even though Congress jacked up spending in Bush's last year over his objections, even though Obama approved a huge spending boost to the FY 2009 budget right after coming to office, and even though Obama would have added much more debt had it not been for Republican-imposed sequestration). National debt increases by president in dollar amounts and percentages:

Obama: $7.9 trillion/68 percent
Bush Jr.: $5.8 trillion/101 percent
Clinton: $0/0 percent
Bush Sr.: $2.8 trillion/54 percent
Reagan: $1.8 trillion/186 percent

Again, if Obama had not been modestly restrained by a Republican-controlled Congress, he would have added a lot more debt. Without Obama's and the Democrats' pressure for higher and higher spending, spending would have been substantially less after the Republicans took control of Congress.

Presidents didn't used to increase the debt by such large percentages. Debt increases used to be in low double digits or in single digits in terms of the percent of the increase, which is the most important number. Dollar values change over time because of inflation, which is why the percent of the increase is the most important figure:

LBJ: $42 billion/13 percent
JFK: $23 billion/8 percent
Eisenhower: $23 billion/9 percent
Truman: $7 billion/3 percent

So, liberals, how are we gonna pay for the $7.9 trillion that Obama added to the debt? How? Or do you only worry about "paying for" something when it involves letting Americans keep more of their own money?

Which President Added Most to the U.S. Debt?

Which president had to dig us out of a recession Bush created?

And I thought the president couldn't spend any money? The other day Republicans were pulling that tired old argument out of the archives that it's not Trump that's spending any money it's Congress.

 

[mikegriffith1]

Bush jr spent far too much on foreign aid... a total waste of money and resources

Foreign Aid is minuscule compared to the stupid tax cuts during a war...

Lets make it nice and clear, Bush started two unfunded wars while giving out tax cuts... This overheated the economy to cause the worst financial crisis since the Great Depression.

Obama had very little choices:

• Borrow and pump the economy and get a stuttering growth
• Let the economy into a Depression

Thankfully he has sanity and picked the first.

I know our little RWNJs here want to critize him for everything but Bush drove the bus off the cliff.

Obama legacy will be a safe pair of hands between to awful presidents.

Oh, sheesh: Pure-T hogwash and mythology, except for the part about the two wars.

The tax cuts generated a big boost in revenue, but Congress spent all the extra money and then some and buried us in debt--and go back and read the debates about spending and you'll see that the Dems wanted to spend even more money.

The Great Recession was caused mainly by disastrous federal intervention in the housing market, and the recession would not have been nearly as bad if Sarbanes-Oxley's absurd mark-to-market regulations had not been in place.

 

[Toddsterpatriot]

Predictably, liberals here are screaming about how we're gonna "pay for" the $1.4 trillion that the Trump tax cuts are returning to the American people, while they refuse to admit that federal revenue has increased after every major tax cut since the early 1900s.

Well, I would like liberals to explain how we're gonna pay for the $7.9 trillion that Obama added to the national debt. Just to be extra fair, this is not counting Obama's first year, because, technically, it was operating under Bush's last budget (even though Congress jacked up spending in Bush's last year over his objections, even though Obama approved a huge spending boost to the FY 2009 budget right after coming to office, and even though Obama would have added much more debt had it not been for Republican-imposed sequestration). National debt increases by president in dollar amounts and percentages:

Obama: $7.9 trillion/68 percent
Bush Jr.: $5.8 trillion/101 percent
Clinton: $0/0 percent
Bush Sr.: $2.8 trillion/54 percent
Reagan: $1.8 trillion/186 percent

Again, if Obama had not been modestly restrained by a Republican-controlled Congress, he would have added a lot more debt. Without Obama's and the Democrats' pressure for higher and higher spending, spending would have been substantially less after the Republicans took control of Congress.

Presidents didn't used to increase the debt by such large percentages. Debt increases used to be in low double digits or in single digits in terms of the percent of the increase, which is the most important number. Dollar values change over time because of inflation, which is why the percent of the increase is the most important figure:

LBJ: $42 billion/13 percent
JFK: $23 billion/8 percent
Eisenhower: $23 billion/9 percent
Truman: $7 billion/3 percent

So, liberals, how are we gonna pay for the $7.9 trillion that Obama added to the debt? How? Or do you only worry about "paying for" something when it involves letting Americans keep more of their own money?

Which President Added Most to the U.S. Debt?

Obama added $9.3 trillion.

You are a fucking liar.

I know that because I’ve been over this with you and I know you know this statement is bullshit.

You fact challenged rightwingers cannot for the life of you ever explain the simple of question of What the hell Obama spend 9.3 trillion on when just about only not-paid-for spending from him was 870 Billion stimulus.

In 2008 Bush sumbmitted a 2009 budget with 1.3 Trillion dollar deficit - did Obama spend that too???

In 2008 Bush sumbmitted a 2009 budget with 1.3 Trillion dollar deficit

When was the Bush 2009 budget finally signed? Can you be specific?

 

[AntonToo]

Bush jr spent far too much on foreign aid... a total waste of money and resources

Which was how much?

Does it matter? It was a waste thats what career politicians do....

Umm yea quantifying what you are talking about matters.

One dollar spending is not like Trillion spending, DUH

 

[Camp]

We have to stop blaming each other for our irresponsibility. Borrowing funds from our future incomes and our children's incomes is a scam used by both Dem's and Repub's. There is a logical and responsible solution.

Unforeseen debts such as wars, natural disasters, and economic bailouts need to be "pay as go", meaning when these responsibilities come due an increase in income or reduction in expenses need to be implemented. They need to be paid for during the time they are needed and not passed on and allowed to build up over years. If we are not willing to pay for a war we should not go to war. If we are not willing to help our fellow citizens during or after a natural disaster, admit it and be responsible for denying our fellow citizens assistance. Don't want to bail our industries of business, own the consequences.

 

[Mac1958]

Not to mention the fact that, under Obama, the Fed had to pour $4+ TRILLION into markets to stabilize the Meltdown he inherited. And I do mean "had to". Those who try to claim that Fed intervention was unnecessary are simply speaking out of willful ignorance.

Yikes, where do you get the figure of $4T for the TARP bailout? I've never seen a figure higher than $800 billion for TARP, and the banks paid back much of the money. Most sources put the number at closer to $700 billion:

Did TARP Help You or the Banks?

For the Republicans who point with disdain at their own party for many of our fiscal problems, bravo. But otherwise, the GOP is every bit as much to blame for this mess that our children have inherited from us, if not more.

Not on this planet. Not since 2009. The Democrats have behaved with reckless abandon on spending, and the Republicans have repeatedly tried to impose badly needed fiscal restraint but can't as long as Dems threaten to filibuster the budget and as long as a handful of weak moderate Republicans can't bring themselves to vote with their party to stop the fiscal madness.

You guys can dance all day and night, but the fact remains that Obama added $7.9 trillion to the debt for no good reason and with pitiful results for the economy.

Here's some actual information from a source I'm sure you'll trust, Fox Business: Fed prepares to cut $4.5 trillion portfolio: What it means

And from Business Insider: "During the financial crisis, the Federal Reserve built up a store of roughly $4.5 trillion in Treasurys and other assets, like mortgage-backed securities, on its balance sheet." Here's the Fed's plan to unwind its massive $4.5 trillion balance sheet

This is my profession, and you get your opinions and talking points from right wing talk radio. Obviously.
.

 

[Rustic]

Bush jr spent far too much on foreign aid... a total waste of money and resources

Foreign Aid is minuscule compared to the stupid tax cuts during a war...

Lets make it nice and clear, Bush started two unfunded wars while giving out tax cuts... This overheated the economy to cause the worst financial crisis since the Great Depression.

Obama had very little choices:

• Borrow and pump the economy and get a stuttering growth
• Let the economy into a Depression

Thankfully he has sanity and picked the first.

I know our little RWNJs here want to critize him for everything but Bush drove the bus off the cliff.

Obama legacy will be a safe pair of hands between to awful presidents.

Bush jr was just like every other career politician including obama. Spending other peoples money Recklessly that’s their job.
Obama continued bushs Foreign-policy, and outspent Bush Junior I did not think that was even possible.
The money for the so called Tax cuts were never the federal governments to begin with, that money never existed. Once a tax cut is passed that money never existed. ass hat

Libya is 100% Arab springs, Obamas and Hildabeasts baby...

...and 100% of the Foreign aid during the Bush administration was waste fraud and abuse

 

[cutter]

Reduce foreign aid to $0.00 and use that same amount to pay down the debt. A country with our debt has no business giving away money we have to borrow from china. Time to get smart with our $$ while we still have a chance to become fiscally stable again and before we become a shithole country, which I sometimes think that’s what the democrats seem to want.

 

[Rustic]

Bush jr spent far too much on foreign aid... a total waste of money and resources

Which was how much?

Does it matter? It was a waste thats what career politicians do....

Umm yea quantifying what you are talking about matters.

One dollar spending is not like Trillion spending, DUH

Everything career politicians do is waste fraud and abuse. Foreign aid is definitely that

 

[danielpalos]

Predictably, liberals here are screaming about how we're gonna "pay for" the $1.4 trillion that the Trump tax cuts are returning to the American people, while they refuse to admit that federal revenue has increased after every major tax cut since the early 1900s.

Well, I would like liberals to explain how we're gonna pay for the $7.9 trillion that Obama added to the national debt. Just to be extra fair, this is not counting Obama's first year, because, technically, it was operating under Bush's last budget (even though Congress jacked up spending in Bush's last year over his objections, even though Obama approved a huge spending boost to the FY 2009 budget right after coming to office, and even though Obama would have added much more debt had it not been for Republican-imposed sequestration). National debt increases by president in dollar amounts and percentages:

Obama: $7.9 trillion/68 percent
Bush Jr.: $5.8 trillion/101 percent
Clinton: $0/0 percent
Bush Sr.: $2.8 trillion/54 percent
Reagan: $1.8 trillion/186 percent

Again, if Obama had not been modestly restrained by a Republican-controlled Congress, he would have added a lot more debt. Without Obama's and the Democrats' pressure for higher and higher spending, spending would have been substantially less after the Republicans took control of Congress.

Presidents didn't used to increase the debt by such large percentages. Debt increases used to be in low double digits or in single digits in terms of the percent of the increase, which is the most important number. Dollar values change over time because of inflation, which is why the percent of the increase is the most important figure:

LBJ: $42 billion/13 percent
JFK: $23 billion/8 percent
Eisenhower: $23 billion/9 percent
Truman: $7 billion/3 percent

So, liberals, how are we gonna pay for the $7.9 trillion that Obama added to the debt? How? Or do you only worry about "paying for" something when it involves letting Americans keep more of their own money?

Which President Added Most to the U.S. Debt?

By not financing a tax cut that merely adds to the debt; instead of cutting costs, like ending the drug war.

 

[Rustic]

Predictably, liberals here are screaming about how we're gonna "pay for" the $1.4 trillion that the Trump tax cuts are returning to the American people, while they refuse to admit that federal revenue has increased after every major tax cut since the early 1900s.

Well, I would like liberals to explain how we're gonna pay for the $7.9 trillion that Obama added to the national debt. Just to be extra fair, this is not counting Obama's first year, because, technically, it was operating under Bush's last budget (even though Congress jacked up spending in Bush's last year over his objections, even though Obama approved a huge spending boost to the FY 2009 budget right after coming to office, and even though Obama would have added much more debt had it not been for Republican-imposed sequestration). National debt increases by president in dollar amounts and percentages:

Obama: $7.9 trillion/68 percent
Bush Jr.: $5.8 trillion/101 percent
Clinton: $0/0 percent
Bush Sr.: $2.8 trillion/54 percent
Reagan: $1.8 trillion/186 percent

Again, if Obama had not been modestly restrained by a Republican-controlled Congress, he would have added a lot more debt. Without Obama's and the Democrats' pressure for higher and higher spending, spending would have been substantially less after the Republicans took control of Congress.

Presidents didn't used to increase the debt by such large percentages. Debt increases used to be in low double digits or in single digits in terms of the percent of the increase, which is the most important number. Dollar values change over time because of inflation, which is why the percent of the increase is the most important figure:

LBJ: $42 billion/13 percent
JFK: $23 billion/8 percent
Eisenhower: $23 billion/9 percent
Truman: $7 billion/3 percent

So, liberals, how are we gonna pay for the $7.9 trillion that Obama added to the debt? How? Or do you only worry about "paying for" something when it involves letting Americans keep more of their own money?

Which President Added Most to the U.S. Debt?

By not financing a tax cut that merely adds to the debt; instead of cutting costs, like ending the drug war.

That money is not there to begin with, so the federal government cannot claim it.

 

[danielpalos]

Predictably, liberals here are screaming about how we're gonna "pay for" the $1.4 trillion that the Trump tax cuts are returning to the American people, while they refuse to admit that federal revenue has increased after every major tax cut since the early 1900s.

Well, I would like liberals to explain how we're gonna pay for the $7.9 trillion that Obama added to the national debt. Just to be extra fair, this is not counting Obama's first year, because, technically, it was operating under Bush's last budget (even though Congress jacked up spending in Bush's last year over his objections, even though Obama approved a huge spending boost to the FY 2009 budget right after coming to office, and even though Obama would have added much more debt had it not been for Republican-imposed sequestration). National debt increases by president in dollar amounts and percentages:

Obama: $7.9 trillion/68 percent
Bush Jr.: $5.8 trillion/101 percent
Clinton: $0/0 percent
Bush Sr.: $2.8 trillion/54 percent
Reagan: $1.8 trillion/186 percent

Again, if Obama had not been modestly restrained by a Republican-controlled Congress, he would have added a lot more debt. Without Obama's and the Democrats' pressure for higher and higher spending, spending would have been substantially less after the Republicans took control of Congress.

Presidents didn't used to increase the debt by such large percentages. Debt increases used to be in low double digits or in single digits in terms of the percent of the increase, which is the most important number. Dollar values change over time because of inflation, which is why the percent of the increase is the most important figure:

LBJ: $42 billion/13 percent
JFK: $23 billion/8 percent
Eisenhower: $23 billion/9 percent
Truman: $7 billion/3 percent

So, liberals, how are we gonna pay for the $7.9 trillion that Obama added to the debt? How? Or do you only worry about "paying for" something when it involves letting Americans keep more of their own money?

Which President Added Most to the U.S. Debt?

By not financing a tax cut that merely adds to the debt; instead of cutting costs, like ending the drug war.

That money is not there to begin with, so the federal government cannot claim it.

Yes, they can. Congress is Obligated to Pay the Debts of the United States via the social Power to Tax.