Obama Added $7.917 Trillion to the National Debt, 68 Percent Spike

[Deleted]

http://www.breitbart.com/big-governm...percent-spike/

President Barack Obama added roughly $7.917 trillion to America’s national debt, which amounts to a 68 percent increase from the $11.657 trillion debt level President George W. Bush accrued by the end of his presidency.

While there are several ways to determine a president’s contribution to the U.S. debt, the most accurate figure is achieved by combining the budget deficits from each fiscal year and adding the total amount to whatever the debt level was at when the last president left office.

For example, when President George W. Bush took office the national debt level was at $5.8 trillion. Bush added $5.849 trillion to the national debt. So when President Obama was sworn in, the national debt level was at $11.657 trillion.

It’s worth noting that the fiscal budget year in Washington D.C. starts on October 1 and ends on September 30. So Bush’s final budget for fiscal year 2009 added a record-setting $1.632 trillion to the national debt.

While he was running for president, Obama criticized President Bush’s deficit spending, calling it “irresponsible” and “unpatriotic.” Obama said at a presidential campaign event on July 3, 2008:

''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 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.''

Obama, with what will be nearly $8 trillion tacked on to the national debt, has added by far more to the U.S. debt than any president in history.

I can't wait until this clown finally leaves.

[Wolfheart9]

http://www.breitbart.com/big-governm...percent-spike/




I can't wait until this clown finally leaves.

We needed yet another thread on this? Really? Please stop trying to stir shit.

[KrazyK923]

Yes gotta love Breitbarts objective and honest reporting.

You and it are a joke.

[Ace192]

By the logic that Obama caused this single handedly, then he also caused every single other problem that happened in the United States in his 8 years.

[Aggrophobic]

Oh look, it's Breitbart.
Not intrested in your bullshit, thanks.

[Sevarin]

President Barack Obama added roughly $7.917 trillion to America’s national debt, which amounts to a 68 percent increase from the $11.657 trillion debt level President George W. Bush accrued by the end of his presidency.

doesnt sound bad at all by comparison.

[anveena]

Thanks Obama

[s_bushido]

Compared to Bush's 101 "percent spike?" Sweet.

[schwarzkopf]

I can't wait until this clown finally leaves.

Someone who can time travel back to 2007 to cause this debt before he became president - that's the sort of person we need in charge.

Obama the Time Travelling President - OP, that's an awesome idea.

Want some facts in your diet OP -> http://www.factcheck.org/2016/07/oba...y-2016-update/

[God Save The King]

Budget is usually bi-partisan . Since 2010, Republicans have controlled at least one chamber, meaning they needed to approve the budget as well. Why didn't they balance the budget?

It's the collective fault of both parties, the executive branch, and the legislative branch. Placing all the blame on either party or the President is dishonest. You can blame the party as a whole during trifecta years. I.e. '09, '10 and now '17, '18. Let's see how republicans handle the budget. I imagine a deficit will be ran as always.

[Garnier Fructis]

About 1.5 trillion was added from tax cuts and unemployment benefits. People complain about taxes, then complain when tax cuts run up the debt. You can't have your cake and eat it too.

And I had better see you all complaining about the debt that Trump adds.

[alexw]

http://www.breitbart.com/big-governm...percent-spike/




I can't wait until this clown finally leaves.

Lol. Do you actually believe this bullcrap? I mean do you actually truly believe it? And if so how, how can you be so disconnected from reality and still function?

FYI here is a graph of the deficit. You can see the absolutely massive hole Obama was handed when he took power. He as a successful president did exactly what any successful president would do - slowly buy surely dug us out of it.

[schwarzkopf]

By the logic that Obama caused this single handedly,

Not only did Obama apparently cause the GFC according to the OP, he travelled back in time to do it

[Fugus]

I can't wait until this clown finally leaves.

Might want to read up on what the national deficit is and how it relates to the national debt. Then you would realize you are blaming Obama from not cleaning up Bushes mess fast enough. Doubly so when you start to think if part of the reason for that might be the republicans were blocking him throughout his entire campaign and trying to make him look bad.

So basically Obama added a little less than 8 trillion dollars to the national debt over the course of 8 years. Completely understandable when he inherited a 1.4 trillion deficit from Bush Jr. and if it wasn't for Obama cutting it it would have been more. And thanks to Obama, Trump has a more balanced budget than he would have otherwise.

Too bad Trump is going to screw it up again and drive us into something worse than Bushes crap did. Wondering if Trump will raid social security to help cover the costs and hide them like Bush did too.

Obama inherited a 1.4 trillion budget deficit from Bush which was driving up the debt, he will be leaving a 600 billion deficit which is 800 billion less than he inherited and greatly helped to balance the budget. While Trumps plans are already expected to add about a trillion back to it again making it even worse.

Can you ever actually bash Obama on stuff he actually did or are you going to keep blaming him for Republican fuck ups?

[God Save The King]

And I had better see you all complaining about the debt that Trump adds.

It'll be Hillary's fault. Or they'll say how Hillary would've done much worse.

[unbound]

http://www.breitbart.com/big-governm...percent-spike/




I can't wait until this clown finally leaves.

Typical partisan drivel.

Here is the context behind that information provided nearly 2 years ago - https://www.washingtonpost.com/news/...t-in-7-charts/

That's because the increase in debt in the early years of the Obama administration was a largely a response to the imploding economy -- just as the big bulge at the end of the George W. Bush administration (2008) was.

And here is the money quote for those of us that prefer to live in reality...

What isn't answered in any of these graphs is the key question: To what extent does this debt matter? The answer to that is a subject of debate among economists. And to the lay person, it too tends to break along partisan lines.

[Belize]

"Low information voters"

[Stormspark]

The OP is one of the trolls I've blocked. Don't feed the troll.

[God Save The King]

Obama inherited a 1.4 trillion budget deficit from Bush which was driving up the debt, he will be leaving a 600 billion deficit which is 800 billion less than he inherited and greatly helped to balance the budget. While Trumps plans are already expected to add about a trillion back to it again making it even worse.?

Bruh. 2017 budget, submitted by Obama in February of this year, only had a 500bn deficit. Which is 900bn less than inherited.

[Orange Joe]

http://www.breitbart.com/big-governm...percent-spike/




I can't wait until this clown finally leaves.

You should probably check sources before linking things lmao.

https://www.thebalance.com/fy-2016-f...budget-3882293

Deficit
The FY 2016 deficit is $600 billion, less than the President's proposed deficit of $744 billion. To compare U.S. budget deficits through history, see U.S. Deficit by Year and Deficit by President.

https://www.thebalance.com/us-deficit-by-year-3306306

shows 2016 at 600 billion.