Back in 2008, Senator Obama said that Bush’s National Public Debt was “unpatriotic” and “irresponsible.” Please listen carefully to this 39 second clip.
Bush was indeed guilty of adding irresponsibly to our National Debt. However, there are those that continue to believe that Bush is the one that ran up all of our Debt, and that Obama is paying it down. This should not be surprising since he continually makes claims (unchallenged by the main stream media) that he has cut trillions.
There also remains confusion by some when it comes to our National Debt and the Federal Budget (the one the U.S. Senate is bound by law to pass every year but failed to four years straight). Much like your Household Budget, the Federal Budget is simply a spending plan. You can either follow the plan or “blow” your budget. (The Budget Deficit is the foolish act of a government that deliberately plans on spending more than it takes in).
The National Public Debt
In just over 4 years Obama has added 6.2 Trillion dollars. (Bush 4.9 Trillion in 8 years) You can verify the numbers by running the dates from the Treasury Dept. <Click Here>
The Ratios of Deficit to GDP:
The lower the number the better. These numbers show with and without 2009 for each president.
Spending as Proportion of Economy
..Even factoring in the TARP year (2009), Bush’s average outlays as a proportion of the economy was 20.3 percent – far below Reagan and only a half-point below Clinton. As for Obama, even excluding 2009, his spending has averaged 24.1 percent of GDP – the highest level for any three years since World War II.
I would point out that the TARP money in 2009 was paid back in 2010 and 2011. If you do not want to include 2009 in Obama’s numbers, then to be fair you should remove the refunded TARP money from Obama’s Budget Deficit for 2010 and 2011, or remove the TARP money spent from the 2009. Lastly, it needs to be pointed out that Obama injected himself into the 2009 budget (prior to taking office) and meeting with Bush insisted all the TARP money stay in.
Source: Office of Management and Budget, File hist01z1.xls (Click image to enlarge)
Many have claimed that Bush didn’t include the cost of the wars on his “books”. This is a false rumor that has been running for some time. He certainly didn’t pay all the bills on Iraq or Afghanistan, but all records are complete and a matter of government archive. The rumor continues that the reason Obama has spent so much money is because he is paying for Bush’s wars. That too is absurd. What Bush didn’t pay for went to the National Public Debt – and that includes war. Obama has not only not paid down on the National Public Debt, the U.S. Government records show clearly he has added to it in record fashion.
- The 2013 Budget will show a decrease in the deficit spending. There are two main reasons for this. The sequestration that Obama eventually campaigned against (see video below) and the return of 30,000 troops that Obama sent to Afghanistan. Let’s not forget that Obamacare costs will begin in 2014, which will add to the deficit spending.
- Regarding the Clinton surplus. This occurred as a result of Newt Gingrich “shutting down” the government to bring Clinton to the table to balance the budget (Contract with America). Clinton did, and they worked together from that point forward on the budget.
Obama supporters also challenge that essentially the world was coming to an end when Obama took office. He had to spend all that money. Really? We had a Housing bubble crisis – a ramification of the National Affordable Housing Act and it’s backing by the Democrats and their ARM’s, ACORN, and yes, Obama, who represented ACORN in a 1995 federal civil lawsuit to force banks to give bad loans.
Bush tried to warn Congress about the out-of-control lending of Fannie & Freddie and the Housing Bubble, but it fell on arrogant ears.
The Bailout (TARP) was originally to be 700 Billion was eventually reduced to 475 Billion. This is often confused with Obama’s 900+Billion dollar Stimulus package that invested in failed green energy programs, and did nothing for jobs. If the cries of an earth shattering crisis was upon us were true, why would the approved TARP funds have been reduced?
All the while Obama has stifled our nations viable and much needed current energy programs. Obama has blocked the Keystone pipeline. Obama is restricting drilling on federal land. Had we been increasing our supply to our potential for the past four years we would not have gone from 1.89/gal to well over 3.00/gal. Obama is also making deliberate efforts to destroy the coal industry – ”Which will make electricity rates necessarily skyrocket” Barack Obama.
There is also the added burden and uncertainty of Obamacare (SCOTUS ruled a tax) on both business, the individual, and our debt. Obamacare is now reported by GAO (Government Accountability Office) to add 6.2 trillion dollars to our long-term National Debt. (Obama had promised it would not add one dime to our debt) Why spend the first two years fighting to force such a program through instead of working towards helping the economy and jobs? Obamacare mandates have and will continue to discourage new hiring, while encouraging laying off employees or cutting them to part-time status to avoid the mandate. All of this further harms our economy.
And the spending continues >> Current U.S. Debt
- Clear response to 9/11
- Obama on record as approving
- Obama added 30,000 more troops into Afghanistan
- More soldiers have died in Afghanistan under Obama than under Bush.
- The Iraq war was based on Intel from both the CIA and MI6 regarding WMD’s. (Chemical & Nuclear) Only Chemical was eventually discovered.
- Iraq was constantly blockading, diverting, or “cleaning” sites ahead of frustrated U.N. Inspectors. This is a matter of U.N. record.
- Could the ongoing Iraq war have been handled differently? Yes. There were a lot of mistakes made, and Bush as CIC is ultimately responsible for those mistakes.
- Obama has followed the exact same policy toward Iraq as Bush, and his timeline.
- Congress voted to go into Iraq, (making it legal) including Hillary Clinton
- Bush had twice as many coalition countries in Iraq than Obama did in his war with Libya (America’s first illegal war).
- In reaction to 9/11 the original Patriot Act was limited to monitoring communication overseas.
- The NSA program expanded (secretly) later under Bush, and continued to expand even more under Obama to include stateside monitoring of virtually every American. Obama is on record as supporting the expansion. This expansion to include all Americans is the equivalent to a Kings warrant, and violates our Fourth Amendment Rights.
- It pales in comparison to Obama’s NDAA 2012 – far more reaching in violations of virtually all of our Bill of Rights.