Obama once again, Out does Bush!!

Posted in the Minneapolis Forum

Since: Oct 08

Location hidden

#1 Jan 21, 2013
- During Barack Obama’s first term as president of the United States, the debt of the federal government increased by $5.8 trillion, which exceeds the combined debt accumulated under all presidents from George Washington through Bill Clinton.
The new federal debt accumulated in Obama's first term equaled approximately $50,521 for each of household in the country.
On Jan. 20, 2009, when Obama was first inaugurated, the total debt of the federal government was $10,626,877,048,913.08, according to the U.S. Treasury. As of the close of business on Jan. 17, the last day reported by the Treasury before Obama’s second inauguration, the total debt of the federal government was $16,432,631,489,854.70.
Thus, from Obama’s first inauguration to his second, the federal government’s debt grew by $5,805,754,440,941.62.
Given that the Census Bureau currently estimates that there are 114,916,000 households in the United States, the $5,805,754,440,941.62 debt increase under Obama equals about $50,521 per household.
When George W. Bush was first inaugurated on Jan. 20, 2001, the total debt of the federal government was $5,727,776,738,304.64. Thus, the total accumulated debt of the federal government was less on the day George W. Bush was inaugurated than the $5,805,754,440,941.62 in additional debt Obama accumulated during his first term.
When Bush left office on Jan. 20, 2009, the total debt of the federal government was $10,626,877,048,913.08. Thus, in George W. Bush’s two terms the total debt of the federal government increased $4,899,100,310,608.44—or by less than the $5,805,754,440,941.62 the debt increased in Obama’s first term alone.

Since: Sep 11

Rogers, MN

#2 Jan 21, 2013
It would seem that Obama is just Bush lite. Or Bush 2.5.

Since: Oct 08

Location hidden

#3 Jan 21, 2013
cantmakeitup wrote:
It would seem that Obama is just Bush lite. Or Bush 2.5.
In 4 years he will be Bush times 5
space ace

Minneapolis, MN

#4 Jan 21, 2013
cantmakeitup wrote:
It would seem that Obama is just Bush lite. Or Bush 2.5.
Oh yeah!
Amused Slew

Seattle, WA

#5 Jan 21, 2013
Overall, I’d argue that the “who increased the debt more?” debate is rather silly. The bottom line is that Bush and Obama have continued an American tradition that’s been the norm my entire lifetime: spending without regard to revenues. Bush wanted to cut taxes while funding two wars and a domestic legacy. Obama wanted to create an even bigger domestic legacy–a major move towards universal healthcare coverage–while ramping up a war and stimulating the economy. The key difference is that Obama’s preference was to also raise taxes–albeit only on top earners–to help pay for it; Congressional Republicans blocked that effort.
space ace

Minneapolis, MN

#6 Jan 21, 2013
Amused Slew wrote:
Overall, I’d argue that the “who increased the debt more?” debate is rather silly. The bottom line is that Bush and Obama have continued an American tradition that’s been the norm my entire lifetime: spending without regard to revenues. Bush wanted to cut taxes while funding two wars and a domestic legacy. Obama wanted to create an even bigger domestic legacy–a major move towards universal healthcare coverage–while ramping up a war and stimulating the economy. The key difference is that Obama’s preference was to also raise taxes–albeit only on top earners–to help pay for it; Congressional Republicans blocked that effort.
My lord..........i just agreed with you. Remarkable.

Since: Sep 11

Rogers, MN

#7 Jan 21, 2013
space ace wrote:
<quoted text>My lord..........i just agreed with you. Remarkable.
Rest easy ace. If anything you just agreed with whatever uncredited source the slewche plagiarized that post from.
Amused Slew

Seattle, WA

#8 Jan 21, 2013
Rest easy space(comma) if anything cantgetitup will pretend she makes the rules here and decides who is ACTUALLY... 483 years old....

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