Obama Debt is Official: More Than Any President In History

March 20, 2012
By

(Chart: www.cbsnews.com)

It’s now official. The national debt has increased more under Obama than under any President in American history.

Mark Knoller has posted at CBSNews.com that while the national debt rose $4.899 trillion under 8 years of Bush, it has grown $4.939 trillion during just the first 3 years and 2 months of the Obama Presidency. (And sadly it’s STILL growing.)

Remember when then “Senator Obama” spouted off these little comments from the peanut gallery in 2006 during debate on raising our debt ceiling:

The fact that we’re here today to debate raising America’s debt limit is a sign of leadership failure………

……….Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is “trillion” with a “T.” That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion……..

……….This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on………

………..Increasing America’s debt weakens us domestically and internationally. Leadership means ‘The buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America’s debt limit.

Obama was so upset in 2006 over a measly $3.5 trillion when it benefitted him politically but now he utters not a peep about his own increase of almost $5 trillion and counting.

In addition to just the raw numbers, Obama has also overseen for the first time since WWII fiscal policy that now has the national debt exceeding 100% or our entire Gross Domestic Product.

Adding to the hypocrisy is the fact that while he and his minions will be the first and loudest to demonize the Republican budget authored by Paul Ryan (R, WI) being released this week, Dear Leader’s own budget for 2013 does nothing to slow the growth of debt.

Obama’s 2013 budget projects $1.3 trillion in new debt for the current year and trillions more in years to come.

Knoller points out that if Obama gets re-elected and his budget projections are correct (so far they’ve all been wrong to the worse), having Obama in the White House for a full 8 years would mean the national debt topping out at around $20 trillion smackeroos in 2016.

That’s an increase of 87 percent!

This President may have made history being the first half-black President but decades from now his skin color will be the last item remembered in his listing of “firsts”:

First President to exceed 15 Trillion in debt.
First President to preside over a credt downgrade.
First President to steal over 5 Trillion from future generations in just one term.
First President to completely abdicate his responsibilities to the country in favor of his loyalty to his political party.

And on, and on it goes…………..

The Corner wonders today if then Senator Obama knew just how prophetic his 2006 words would be come 2012:

“America has a debt problem and failure of leadership.”

We’ve got a problem all right. The problem is the failure currently residing at 1600 Pennsylvania Avenue.

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2 Responses to Obama Debt is Official: More Than Any President In History

  1. anson burlingame on March 20, 2012 at 3:59 pm

    And sadly, Geoff, the above are not the REAL debt numbers. I refer of course to my blog from a month or so ago showing the real debt at about $17.494 TRILLION (As of Sept 30,2011), not the $14…. shown above as of today I suppose.

    Anson

    • Geoff Caldwell on March 21, 2012 at 6:37 am

      Oh believe me I know. (Like you, I live in the real world, not the dwainbwain fantasy land where you just follow Dear Leader over the cliff because he’s soooooooooooooooo smart!)
      I read an article this morning that some in Cushing, OK are going to try to protest his visit there tomorrow. But what REALLY caught my eye was the last line of the article that said the President might not even see the protests as his visit was private and not open to the public.
      Talk about a WTF moment! He’s using Air Force One at taxpayer expense to spew out his lies about his “energy” policy and then it isn’t even open to the PUBLIC? (yep, there’s a post coming on THAT one!)

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