National Dept has now increased 4 trillion under Obama

[Stephanie]

SNIP:
Posted by Jim Hoft on Monday, August 22, 2011, 6:40 PM
The US national debt has now officially increased by $4 trillion under Barack Obama. He blames George W. Bush.

CBS reported:

The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama’s watch.

The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion.

It’s the most rapid increase in the debt under any U.S. president.

The national debt increased $4.9 trillion during the eight-year presidency of George W. Bush. The debt now is rising at a pace to surpass that amount during Mr. Obama’s four-year term.

Mr. Obama blames policies inherited from his predecessor’s administration for the soaring debt. He singles out:

“two wars we didn’t pay for”
“a prescription drug program for seniors…we didn’t pay for.”
“tax cuts in 2001 and 2003 that were not paid for.”

SNIP:
Of course, the Bush tax cuts created record revenue for the government, but don’t tell Obaama. It might ruin a good talking point.


DWYER: Bush tax cuts boosted federal revenue - Washington Times

the rest with comments at.
http://www.thegatewaypundit.com/

 

[DontBeStupid]

So?

Oh, also ...

the Bush tax cuts created record revenue for the government

That's not true.

 

[elvis]

So?

Oh, also ...

the Bush tax cuts created record revenue for the government

That's not true.

Not that you'd know the truth if it ripped off your head and shit down your throat..

 

[DontBeStupid]

Not that you'd know the truth if it ripped off your head and shit down your throat..

Hmm. The evidence you have presented is rather compelling and I can clearly tell you have a firm grasp of the issues.

I'd like to subscribe to your news letter.

 

[nolebrakai]

when the economy is losing 800k jobs a month and the market that so many middle class citizens depend on for retirement was down to 8k. you don't just stand by with your junk in your hand.


is this story really a surprise? this president took over a hot mess, we can all agree on this fact, no?

 

[DontBeStupid]

this president took over a hot mess, we can all agree on this fact, no?

Actually, no. Many on these boards will not agree with you on this very basic fact. Which leads to rather humourous discussions.

And by "humourous", I mean "an utter waste of time".

 

[Stephanie]

this president took over a hot mess, we can all agree on this fact, no?

Actually, no. Many on these boards will not agree with you on this very basic fact. Which leads to rather humourous discussions.

And by "humourous", I mean "an utter waste of time".

then leave, the dailykos or huffington post will agree with you all the time.

 

[DontBeStupid]

this president took over a hot mess, we can all agree on this fact, no?

Actually, no. Many on these boards will not agree with you on this very basic fact. Which leads to rather humourous discussions.

And by "humourous", I mean "an utter waste of time".

then leave, the dailykos or huffington post will agree with you all the time.

Oh, I'm sure you would love it if all the educated people left the boards. Then you could make posts about Bush's tax cuts increasing tax receipts, even though they didn't, and posts about how Obama caused the recession, even though he didn't, and no one would be here to tell you otherwise.

Sorry, bub. Not gonna happen.

So, back on topic, what's the problem here again? $4T in debt during one of the worst financial crisis the country has ever been through sounds about right to me.

 

[nolebrakai]

I have been lurking this board for a few months, im a bit up to speed with this board by now.


getting people to remember past 2008 is a tough task these days.

Right now Obama is running on a empty record and the GOP is running on pure stupidity and dogma. 2012 will be a barn burner.

 

[elvis]

Actually, no. Many on these boards will not agree with you on this very basic fact. Which leads to rather humourous discussions.

And by "humourous", I mean "an utter waste of time".

then leave, the dailykos or huffington post will agree with you all the time.

Oh, I'm sure you would love it if all the educated people left the boards.

So she'd be happy if you stayed.....

 

[Stephanie]

Actually, no. Many on these boards will not agree with you on this very basic fact. Which leads to rather humourous discussions.

And by "humourous", I mean "an utter waste of time".

then leave, the dailykos or huffington post will agree with you all the time.

Oh, I'm sure you would love it if all the educated people left the boards. Then you could make posts about Bush's tax cuts increasing tax receipts, even though they didn't, and posts about how Obama caused the recession, even though he didn't, and no one would be here to tell you otherwise.

Sorry, bub. Not gonna happen.

So, back on topic, what's the problem here again? $4T in debt during one of the worst financial crisis the country has ever been through sounds about right to me.

Holy smokes...

 

[DontBeStupid]

So, back on topic, what's the problem here again? $4T in debt during one of the worst financial crisis the country has ever been through sounds about right to me.

Ahem .... so ... back on topic.

Anyone?

 

[uscitizen]

Which dept would that be?

Dept of homeland Security?

 

[Wiseacre]

when the economy is losing 800k jobs a month and the market that so many middle class citizens depend on for retirement was down to 8k. you don't just stand by with your junk in your hand.


is this story really a surprise? this president took over a hot mess, we can all agree on this fact, no?

Yes, things were bad when Obama took over. Most of us on the right know it and agree, but the problem is what he's done about it. Some on the left give him a pass just because the situation was difficult, some on the right expect some improvement given how much money has been spent, some of it before he took over. I fall into the latter camp.


BTW, welcome aboard.

 

[expat_panama]

the Bush tax cuts created record revenue for the government

That's not true.

Saying it's not true doesn't make it not true, at least as far as the Congressional Budget Office is concerned:

 

[DontBeStupid]

DWYER: Bush tax cuts boosted federal revenue - Washington Times

By the way, this article is a complete hack. The author is basically saying to ignore the first 2 years of Bush cutting taxes and focus solely on the 2003 cuts. Then, because some stuff happened after those cuts, then they must be a result of the cuts! Hooray! Cuts paid for themselves!

He never even attempts to show HOW the cuts actually lead to the upturn in the economy. He can't show it, because there is no connection. Every economist worth his salt knows that the economy took off due to incredibly low interest rates and people re-financing their homes and using the funds to continue consuming. This is why things are as bad as they are now, because people are still paying down that debt.

Econ 101 stuff here folks.

 

[DontBeStupid]

the Bush tax cuts created record revenue for the government

That's not true.

Saying it's not true doesn't make it not true, at least as far as the Congressional Budget Office is concerned:

1) Not inflation adjusted.
2) 2007? As in 4 years after the cuts??!!
3) Correlation does not prove causation.

But nice try!

 

[rdean]

Republicans left him with so much to work with.

 

[uscitizen]

It was actually the Carter tax cuts that caused the record revenue

 

[uscitizen]

One can claim anything they want about tax cuts, there is no definite proof.
It is pretty much a faith based issue.