“The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.” — Barack Obama, 3 July 2008
Obama gives us the relevant numbers himself: Bush gave us $4 trillion in debt over eight years and that was so irresponsible and such a failure in leadership that it’s “unpatriotic.” Those are Obama’s own words that he was elected under. And Obama started out with a national debt of $10 trillion and promised the American people he would cut the deficit in half during his first term.
That deficit that Obama promised to cut in half was $455 billion. That is a fact as can be seen below. Not only did Obama NOT keep his self-righteous, lying, hypocrite promise to cut the deficit in half in his first term, he has more than doubled that deficit each year of his presidency and one year MORE THAN TRIPLED it. And not only has Obama given us trillion-PLUS dollar deficits every single year of his presidency, but in fact he has created the disastrous future of trillion dollar deficits as far as the eye can see until America collapses.
Obama demonized Bush for a debt that was so enormous that it would cost every man, woman and child in America $30,000 to pay. And what did he do? He gave us a debt that will now cost every man, woman and child in America more than $50,000 to pay!
It’s not just that Obama is a liar; he is a truly demonic liar. And Obama has been “governing” or “leading” by counting on his ability to lie faster than the other side can correct his lies.
- 2011 – $1.5 trillion budget deficit (projected)
- 2010 – $1.3 trillion budget deficit
- 2009 – $1.4 trillion budget
- 2008 – $455 billion budget deficit
- 2007 – $162 billion budget deficit
- 2006 – $248.2 billion budget deficit
- 2005 – $319 billion budget deficit
- 2004 – $412.7 billion budget deficit
- 2003 – $377.6 billion budget deficit
- 2002 – $157.8 billion budget deficit
- 2001 – $128.2 billion budget surplus
It has become very difficult to estimate Obama’s and the Democrat Party’s deficits. Because they have wickedly refused to even BOTHER to pass a budget as required by law for 1,224 days. Republicans in the House have done their job every year they have governed, both during the time that they controlled both branches of the Congress in 2006 (when the final Republican congressional budget under Bush was just $162 billion) and since they retook the House in 2010. But Democrats who control the Senate have refused to do their duty and pass ANY budget at ALL.
It’s official: We are now $16 trillion in debt
posted at 6:58 pm on September 4, 2012 by Erika Johnsen
That. Just. Happened. There’s been a bit of waffling on when exactly it occurred between last Friday and Tuesday, but regardless, that ship has sailed.
Total U.S. government debt eclipsed $16 trillion for the first time Friday, new government data show, as total federal borrowing continues marching toward the $16.394 trillion borrowing limit.
The Treasury Department said total government debt hit $16,015,769,788,215.80 on Friday, up $25 billion from the day before. The amount of federal debt subject to the borrowing limit is actually slightly less, as it doesn’t include several types of borrowing, and it stood at $15.977 trillion on Friday.
Ah yes, remember when Obama promised he’s cut the deficit in half by the end of his first term in office? Heh, that ol’ chestnut. In actuality, President Obama has added over $5.4 trillion to the debt during less than four years in office, more than any other president and approximately a trillion more than President Bush during his full two terms in office. So, there’s that.
If Obama is a one-term president, which he himself by his own rhetoric said he ought to be, he will have added more than $6 trillion to the debt in his four years by the time he leaves office. The same man who viciously demonized his predecessor for adding less than $5 trillion over EIGHT years. The national debt is over $16 trillion now, and it’s going to keep piling on and piling on until January 2013. With at least $500 billion in interest to pay on top of that.
The U.S. fiscal gap, calculated (by us) using theCongressional Budget Office’s realistic long-term budget forecast — the Alternative Fiscal Scenario — is now $222 trillion. Last year, it was $211 trillion. The $11 trillion difference — this year’s true federal deficit — is 10 times larger than the official deficit and roughly as large as the entire stock of official debt in public hands.
Now, the fact of the matter is that 99.9 percent of that supermassive debt have been loaded on the back of America’s children – because Democrats love “free stuff” that SOMEBODY ELSE gets forced to pay for – was created by Democrat entitlement programs that should have never been passed in the first place. Both Social Security and Medicare would have been FAR more stable and pay out FAR better benefits if they had been privatized from the very start as Republicans wanted. But Democrats imposed their socialism by force and it is only a matter of time before their government fascist takeover implodes America. Unless YOU’VE got $222 trillion in your pocket.
What they’ve done to the country they’ve done to the liberal states and the liberal cities. Go to Illinois, the king of the deadbeat states. You watch a 60 Minute Story and you will be PISSED at what slimebag Democrat cockroaches have done. Go to California, where Democrats have created a $500 BILLION unfunded pension black hole of doom. Look at America under Obama and take note that America just passed the $16 trillion mark that was $10 trillion when Bush left office. Barack Obama DEMONIZED George Bush for increasing the debt by $4 trillion over eight years - look what that Marxist weasel has done in HALF the time by piling on $6 trillion in debt in only FOUR years!!!
This election isn’t a “do-over.” The odds are that Obama has already fatally wounded America with his insane spending and his bizarre “logic” and his constant fracturing of America on the basis of race and gender and income. But if you vote for Obama now, you are literally voting for the suicide of America.
Tags: #43 added $4 trillion by his lonesome, $16 trillion, $222 trillion, budget deficit, cut the deficit in half, entitlement programs, fiscal gap, It’s unpatriotic, Medicare, national debt, Social Security, That’s irresponsible