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Honestly, it would have happened no matter who was president. I'm no Obama fan but lets face it, he took the helm of the Titanic AFTER it had already hit an iceberg.
Only because this entire government is totally out of control lunatics spending and spending on things that don't matter and on things that were dubiously fabricated and are in place by the Bilderberg.
I'm an isolationist as well (as I said a fervent supporter of isolationists like Ron Paul because he would stop our meddling in other nations' affairs) so my views very much disagree with warmongering which no doubt is a large part of the trillions we have absolutely flushed down the effin toilet.
That is why I think there is no question there is a conspiracy to turn America in to a ****hole after they drain us dry. The sings are all so clear!
The year before Obama took office, the federal debt was $9.99 trillion.
According to his latest budget, the federal debt will reach $19.33 trillion in 2016, Obama's last year in office.
Interest on the debt this year will be $229 billion, and is scheduled to rise to $785 billion in 2025 under Obama's plan.
While true that deficits have fallen from a record $1.4 trillion in Obama's first year to $474 billion in 2016, deficits are set to begin rising again as soon as Obama leaves office, reaching $687 billion in 2025.
For comparison's sake, the highest deficit ever under President Bush was $458 billion.
Debt under Obama in this (once, no longer great) country has gone from $9,000,000,000,000.00 to $18,000,000,000,000.00 and soon to be $20,000,000,000,000.00.
I'd like for ONE PERSON in this thread - liberal or conservative - that can tell me that is in any way acceptable?
You know, I used to chuckle at conspiracy theorists who said Obama is trying to destroy America (financially and morally, among other ways) but no longer do I believe it is a conspiracy; America has almost been destroyed by his (not yet over) fiasco...
Never once has he demonstrated significant interest in controlling the debt and deficits. Only when the GOP forced his hand.
The deficit was $1.4 trillion his first year in office (it was $1.2 trillion before he even got into office), it has dropped every year since. Quite simply you aren't going to go from a deficit that high to little or no deficit in a short period of time, it will diminish overtime (and has) but obviously as a result will add to the overall national debt.
You are making too much sense for most of the CD crowd.
We were in the worst recession since the Great Depression and revenue dropped by $500 billion per year. Then, the automatic safety net spent more money on the unemployed. That's the cause of those high deficits.
Now, Obama tax policy has cut the deficit by 75%. The CBO now says that the debt is sustainable. More interesting is that the amount of interest the government pays is as low as it was in 2007.
So, what really is the problem with having the debt at the level it is today? Cutting it so that the budget is balanced would plunge the nation into recession.
The year before Obama took office, the federal debt was $9.99 trillion.
According to his latest budget, the federal debt will reach $19.33 trillion in 2016, Obama's last year in office. Interest on the debt this year will be $229 billion, and is scheduled to rise to $785 billion in 2025 under Obama's plan.
While true that deficits have fallen from a record $1.4 trillion in Obama's first year to $474 billion in 2016, deficits are set to begin rising again as soon as Obama leaves office, reaching $687 billion in 2025.
For comparison's sake, the highest deficit ever under President Bush was $458 billion.
So, interest this year is $229 billion? That number sounds scary -- until you realize that it was higher a decade ago.
..........
The projection that makes it $785 billion (not adjusted for inflation) is only if interest rates rise much higher.
The year before Obama took office, the federal debt was $9.99 trillion.
According to his latest budget, the federal debt will reach $19.33 trillion in 2016, Obama's last year in office.
Interest on the debt this year will be $229 billion, and is scheduled to rise to $785 billion in 2025 under Obama's plan.
While true that deficits have fallen from a record $1.4 trillion in Obama's first year to $474 billion in 2016, deficits are set to begin rising again as soon as Obama leaves office, reaching $687 billion in 2025.
For comparison's sake, the highest deficit ever under President Bush was $458 billion.
GW Bush was in office from 2001-2009. In 2009 the deficit was $1.4 trillion dollars.
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