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On January 20, 2009, Obama was sworn in, the debt was $10.626 trillion. On January 20, 2017, it was $19.947 trillion. Obama rang up over $9,000,000,000,000 in debt that Americans, our children, and our grandchildren will have to repay. Our economy will suffer as we have to repay the ASTRONOMICAL DEBT Obama left us with.
Of course, now he jet-sets around the globe, on additional taxpayer expense, and will for the rest of his life, except when he is at home in his walled off Washington DC mansion. Obama is laughing at us.
adjusted for inflation that 10 trillion at the start is actually 11.3 trillion...
and if we take the remaining 8.5 and adjust using the standard midpoint value in adjusted dollars. you arrive at
7.9 trillion in real terms (ie half the debt being 2008 and half 2016..) i used the cpi numbers.
And in fairness to bush, his debt also deserves to be inflation adjusted from whatever clinton handed him. but i am not doing it.
numbers aside, the spending early put US on the right side of that poop storm, the EU states took too long to figure it out and they went with the same plan the GOP wanted Obama to follow.. (austerity ) . Having seen it fail they abandoned that and copied the Obama plan. but i understand you would like to pretend the housing crisis caused by clinton and bush never happened.
Obama inherited an economy that was shedding over 200,000 jobs a month, unemployment around 8%, increase in unemployment benefits and food stamps, 2 wars. You don't just slam on the breaks on Jan 20, 2009 for that type of disaster but I know it makes the OP's case, it takes years to come back from the largest recession in our history.
Obama inherited an economy that was shedding over 200,000 jobs a month, unemployment around 8%, increase in unemployment benefits and food stamps, 2 wars. You don't just slam on the breaks on Jan 20, 2009 for that type of disaster but I know it makes the OP's case, it takes years to come back from the largest recession in our history.
Actually the economy was shedding nearly 800,000 jobs/month when Obama took office - even worse than you quoted.
Obama inherited an economy that was shedding over 200,000 jobs a month, unemployment around 8%, increase in unemployment benefits and food stamps, 2 wars. You don't just slam on the breaks on Jan 20, 2009 for that type of disaster but I know it makes the OP's case, it takes years to come back from the largest recession in our history.
of course the proof you are right, is that the EU did slam the brakes and they paid in millions jobs.
Obama fought the GOP who wanted to slam the brakes, and beat them. Thus Obama saved the day.
Worth noting the EU, turned around and opened the money flood gates when they saw Obama's plan work while theirs resulted in angry, riots and massive unemployment. The ongoing pain is directly linked the british protest vote where they accidently voted themselves out of the union and the unrest seen in a number of EU nations.
Every DEM, every Repub, should be glad Obama did not bend to the wishes of the GOP, when they demanded austerity....
adjusted for inflation that 10 trillion at the start is actually 11.3 trillion...
and if we take the remaining 8.5 and adjust using the standard midpoint value in adjusted dollars. you arrive at
7.9 trillion in real terms (ie half the debt being 2008 and half 2016..) i used the cpi numbers.
And in fairness to bush, his debt also deserves to be inflation adjusted from whatever clinton handed him. but i am not doing it.
numbers aside, the spending early put US on the right side of that poop storm, the EU states took too long to figure it out and they went with the same plan the GOP wanted Obama to follow.. (austerity ) . Having seen it fail they abandoned that and copied the Obama plan. but i understand you would like to pretend the housing crisis caused by clinton and bush never happened.
Guess what, the USA has to wildly overspend its fiat-currency, in-order to keep the lid from flying-off this mess.
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