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President Obama Has piled up over $7 Trillon in Debt

Original post made by Fed Busters!, Menlo Park: Central Menlo Park, on Aug 4, 2014

President Obama has been in office for 2,022 days and has 900 days remaining in his term. So far he has increased the national debt by 7 Trillion 5 Billion 368 Million Dollars. If his deficit spending increases at the current rate he will have increased the deficit by 10 Trillion 123.5 Billion dollars.

That will be more than the total accumulated debt under all the U.S. presidents preceding Barack Obama--from George Washington through George W. Bush combined.

Comments (15)

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Posted by gwb
a resident of Atherton: other
on Aug 4, 2014 at 8:46 pm

THank you for the recession, Mr. Bush.


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Posted by Peter Carpenter
a resident of Atherton: Lindenwood
on Aug 4, 2014 at 9:44 pm

Peter Carpenter is a registered user.

President's don't incur debt. Under the Constitution only the Congress can incur debt.

"The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;"

"With the power to tax implicitly comes the power to spend the revenues raised thereby in order to meet the objectives and goals of the government. "


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Posted by hypocrites
a resident of Menlo Park: Belle Haven
on Aug 4, 2014 at 10:08 pm

Bush waa given a surplus but Clinton and then DOUBLE the debt.

Bush gave us our first trillion dollar deficit, and the Bush Great Recession.

Show me your post in 2008 complaining about Bush and prove you aren't a concern troll


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Posted by hawk led
a resident of Menlo Park: Stanford Weekend Acres
on Aug 6, 2014 at 10:23 am

Time to start creating jobs. You can't cut your way out of debt because it kills the economy.

Jobs = tax revenue = balanced budget

Ask Clinton.

Or tell me how many Republicans have balanced the national.


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Posted by Wood
a resident of Atherton: Lindenwood
on Aug 7, 2014 at 11:19 am

Look at the monthly job chart for the last decade. Bush's last month was -800,000 jobs. Bush's 4 month hangover was -1.5 million jobs lost. Obama has longest sustained job growth (+200,000/month) since Clinton.

Need more jobs. Obama is good, but needs more jobs to cut deficit.


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Posted by hypocrites
a resident of Menlo Park: Belle Haven
on Aug 7, 2014 at 2:08 pm

@Wood: here's the chart - Web Link

Note a couple things:

- Republicans will never comment on this chart. Tea Baggers are also allergic to it. Libertarians become strangely quiet, despite their obnoxiously noisy nature.

- the Bush "hangover" you referenced (nice term!) for the first 4 months of the Obama first term was actually more like....


TWO POINT SEVEN MILLION JOBS LOST.

If you include Bush's last month (Jan 2009) it is 3.5 million jobs lost(Jan thru May 2009)

Clearly Obama's fault. He obviously hypnotized Bush or something.


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Posted by pogo
a resident of Woodside: other
on Aug 7, 2014 at 3:40 pm

pogo is a registered user.

Repeat after me: "Not my circus. Not my monkeys."


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Posted by Norman Licht
a resident of Woodside: Emerald Hills
on Aug 8, 2014 at 10:15 am

That chart is an outstanding representation of the numbers. Anyone can look at it, identify the point at January 2009, see the effects of the recession and when the Obama attempts to combat the recession kicked in.

It would be nice to overlay a chart of the Republican attempts to combat the recession and compare and contrast.


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Posted by hawk led
a resident of Menlo Park: Stanford Weekend Acres
on Aug 9, 2014 at 9:45 am

Seeing the ongoing tragedy in Iraq, it is truly difficult deciding the greatest blunder of Bush:
* the great recession
* ignoring 50 warnings about 9/11 and staying in Crawford
* Iraq
* enablig Putin by looking into his eyes and seeing his soul (can you imagine Putin's reaction to that statement?)

Each blunder is worse than anything our current pitiful resident of the White House has done.

What have we doe to deserve such incompetents?


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Posted by Fed Busters!
a resident of Menlo Park: Central Menlo Park
on Aug 9, 2014 at 11:10 am

Young people are beginning to wise-up that President Obama has done them no favors, has cost them job opportunities, has taken $2,000 to $3,000 a year out of their pocket with ObamaCare, and has created a tax burden on them they will have to pay the rest of their lives due to the $7 trillion dollars in new debt Obama has racked up in 5 years. It is unfortunate that President Obama refuses to take responsibility for his ignominious fiascoes and even more disheartening that he does he want to make any effort to mitigate the damage he has caused.

Obama simply refuses to acknowledge how serious the problems are that he has created. He has isolated himself in the White House and doesn't seem to know what's happening around him. And what little he does know, he has no idea how to deal with. Obama came into the presidency thinking all he had to do is enunciate lofty goals and they would magically be accomplished. Unfortunately for Obama, the presidency demands more than ideas. It demands a plan for accomplishment, plan execution, follow-up on the execution, and making corrections and adjustments when necessary. More importantly, it demands interaction and compromise with Congress which this intractable president has stubbornly refused to do.

Obama came out of the Senate as a novice freshman and was guarded and aloof during his brief tenure with nary an accomplishment. If one were to talk to his fellow senators on both sides of the aisle, they would, for the most part, say he didn't even interact with them. He was just occupying space as a Senator. Then though a brilliant campaign he became President.

However, to succeed as president – Obama needed to work hard communicating with his own Democratic leadership and then work with the Republicans to sell his agenda; something which he was loathe to do. Occasionally Obama would have meetings with Republicans and then in follow-on news conferences would excoriate them and lie about them, completely unraveling any work he had accomplished to promote his agenda.

There's an art form to working with Congress. Bill Clinton knew how to do it. Lyndon Johnson knew how to do it. In fact, both were very artful at it. However, Obama has absolutely no interest in bi-partisanship, and his seething contempt and outright hostility towards the Republican Party has severely undermined his ability to lead.

Obama likes the perks of the Presidency, but he doesn't like the attendant responsibilities. Obama has discovered the presidency is hard work that he never counted on having to do. He is way over his head and America is paying the price.


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Posted by hawk led
a resident of Menlo Park: Stanford Weekend Acres
on Aug 9, 2014 at 12:16 pm

@FedBusters: Young people can stay on their parents plan under ObamaCare. Or are you one of those who think that young people should not show personal responsibility? Let them be slackers and mooch off the system, using the ER and saddling the state with the costs? Doesn't work for me. A kid wants to engage in dangerous young person behavior, then go ahead and step up and show some responsibility. It's the same as the Romney plan in Massachusetts.

"President Obama refuses to take responsibility for his ignominious fiascoes"
Name any one that rivals what I posted above: it is truly difficult deciding the greatest blunder of Bush:
* the great recession
* ignoring 50 warnings about 9/11 and staying in Crawford on extended vacation
* Iraq

Please enlighten us. Before you say debt, please identify how Bush's doubling of the debt is worse than Obama's doubling of the debt. Bush inherited a surplus, Obama inherited Bush's first ever trillion dollar deficit. Not even comparable.

Yes, Obama is not a great politician, not even close. Clinton was/is. Bush isn't, that is why as a relatively young man, Bush is in seclusion. Well, that, and the fact that the GOP doesn't want anyone reminding voters what they unleashed and supported - arguably the worst President ever.

Your original statement: "That will be more than the total accumulated debt under all the U.S. presidents preceding ... --from George Washington through..."

By definition, your statement also applied to Bush when he doubled the national debt after receiving a budget surplus from Clinton. "That will be more than the total accumulated debt under all the U.S. presidents preceding George Dubya Bush... --from George Washington through Clinton. And Clinton left Bush a surplus." (5T to 10T in debt.)

See? Those dems can play your game also. It doesn't get us anywhere, except feeding their base. They can also say the same about Ronald Reagan, who tripled the national debt. On fiscal matters, Obama is indeed incompetent, but no more than Bush and Reagan, actually less than Reagan, who had 11 middle class tax hikes on working Americans, while tripling the debt from 900B to 2.7T with his tax cuts for the wealthy. I thought that was good at the time, the Laffer curve and all, but now we know it was all tragic hocus-pocus on working American families - a tripled debt and tax hikes on working Americans unfortunately proved it.

You can talk about "novice" politicians or the so-called "art form" in working with congress (whatever bs that is! Reagan worked with congress and tripled the debt!) or other trivial bullpuckey, or we can discuss facts.

Obama is not a great president. He is weak in a number of areas. He is also inherited the greatest mess ever left a president since the Great Depression. Fact.


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Posted by Fact Checker
a resident of Menlo Park: The Willows
on Aug 9, 2014 at 5:39 pm

George W. Bush did not double the debt. It was less than that. He increased the debt by less than $5T. Obama, on the other hand is on track to more than double the deficit that Bush added to the National Debt.

Reagan did not Triple the debt. It was less than that. Reagan increased the national debt by $1.764T. Obama is on track to increase the national debt by $10T or almost 6 times greater than the increase of Ronald Reagan.

Nixon increase the national debt by $119B. Obama is on track to increase the national debt by more than 58 times greater than Nixon did.

Obama is a complete disaster. FEMA should be setting up an office in the West wing. Unfortunately for Hillary, Obama has poisoned the well so bad that it will be difficult for Hillary to capture the White House because of how disenchanted independents and conservative Democrats have become with the Democratic Party.


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Posted by Wood
a resident of Atherton: Lindenwood
on Aug 10, 2014 at 9:50 am

Reagan did triple the debt.

At least so called fact checker isnt lying about the 11 reagan tax raises on working Americans, including the largest middle class tax hike of all time - doubling payroll taxes on working families while giving tax cuts to millionaires and billionaires.


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Posted by hawk led
a resident of Menlo Park: Stanford Weekend Acres
on Aug 10, 2014 at 12:48 pm

Are you crazy? I said: "...Reagan, who had 11 middle class tax hikes on working Americans, while tripling the debt from 900B to 2.7T"

...and you replied with: Nuh-uh! "Reagan (only) increased the national debt by $1.764T." Wha...?!?!??

So 900 billion plus your $1.764T come to within a few billion of 2.7T.

Thus Reagan tripled the debt from 900B to 2.7T. Tripling it.

Thanks for proving it.

Reagan himself called it his greatest regret. Web Link He really didn't care though, did he? If he did, he wouldn't have raised taxes on working Americans while cutting them for the wealthy.

Even Reagan's Director of OMB said in 2010: "This debt explosion has resulted not from big spending by the Democrats, but instead the Republican Party's embrace, about three decades ago, of the insidious doctrine that deficits don't matter if they result from tax cuts." Web Link

Thus we find Dick Cheney saying: "Reagan taught us deficits don't matter." Web Link And spurring Bush on to doubling the national debt from 5T to 10T after being given a surplus from Clinton, and then having the gall to take that surplus and give obama the first trillion dollar deficit in the history of the world.

This is why Democrats are demonstrably better than the GOP on the economy.

"Obama is a complete disaster." No, not even close. Obama is a poor politician, and incompetent in some areas. Disagree? Then address the list from above - what has Obama has done that is worse than Bush?

"it is truly difficult deciding the greatest blunder of Bush:
* the great recession
* ignoring 50 warnings about 9/11 and staying in Crawford on extended vacation
* Iraq"

ObamaCare is worse than the couple trillion in Iraq? 5,000 dead American soldiers? A ongoing disaster in Iraq - secular genocide, Iraq partnering with Iran? All the Vets we have add another $15 billion to the VA budget for?

You're blind.

"Between the beginning and the end of the Reagan presidency, the annual deficit almost tripled. So did the gross national debt -- from $995 billion to $2.9 trillion. Or, as Reagan and Bush administration official Richard Darman put it, "In the Reagan years, more federal debt was added than in the entire prior history of the United States." - Daniel Yergin Web Link

Dick Cheney: "Reagan taught us deficits don't matter."


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Posted by Hawk led
a resident of Menlo Park: Stanford Weekend Acres
on Aug 10, 2014 at 12:50 pm

"This is why Democrats are demonstrably better than the GOP on the economy."

as proved by the Republican, the Reagan Director of the OMB, David Stockman:

"This debt explosion has resulted not from big spending by the Democrats, but instead the Republican Party's embrace, about three decades ago, of the insidious doctrine that deficits don't matter if they result from tax cuts."


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