National Debt Up $7 Trillion Under Obama

[GBFan]

(CNSNews.com) - The total federal debt of the U.S. government has now increased more than $7 trillion during the slightly more than five and a half years Barack Obama has been president.

That is more than the debt increased under all U.S. presidents from George Washington through Bill Clinton combined, and it is more debt than was accumulated in the first 227 years of this nation's existence--from 1776 through 2003.

The total federal debt first passed the $7-trillion mark on Jan. 15, 2004, after President George W. Bush had been in office almost three years.


When President Obama took office on Jan. 20, 2009, the total federal debt was $10,626,877,048,913.08. As of the close of business on July 30, 2014, it had risen to $17,618,599,653,160.19--up $6,991,722,604,247.11 from Obama’s first inauguration day.

By the close of business on July 31, 2014, it had risen to $17,687,136,723,410.59—up $7,060,259,674,497.51 since Obama first inauguration day.

 

[Walter]

I found this on Wikipedia, Total revenues and outlays as a percent of GDP


(Source: "The Budget and Economic Outlook: 2014 to 2024", public domain in the United States because it is a work prepared by an officer or employee of the United States Government as part of that person’s official duties)


Interestingly, in 2008/2009 revenues plunged and outlays increased.

 

[GBFan]

I found this on Wikipedia, Total revenues and outlays as a percent of GDP

View attachment 708
(Source: "The Budget and Economic Outlook: 2014 to 2024", public domain in the United States because it is a work prepared by an officer or employee of the United States Government as part of that person’s official duties)


Interestingly, in 2008/2009 revenues plunged and outlays increased.

Really, that's no surprise ... remember the $800 million stimulus package that was supposed to kickstart the economy? A gigantic waste of money - unless you were one of the Democrats' union buddies, of course. You'll notice - no coincidence - 2008-2009 was the largest increase in the federal debt in the history of the country (even including wars).

Everybody out of work = decreased revenues.

Foolish gov't programs = increased outlays.

 

[pocketfullofshells]

anyone with half a brain can look at the many charts out there that show jobs starting increasing quite a bit right after the Stim ( that was by the way half tax cuts so please just keep crying) but I know that no matter what they say some can't accept it. And its funny to listen to anyone who voted for Bush, liked reagan , bitch about debt