The Democrat-controlled Congress, with help from President Obama’s big government vision, is on track to double the national debt in four years.
USA Today published an interactive chart that provides annual revenue, spending, deficit and national debt numbers. The most frightening number is the national debt.
When the Pelosi/Reid left-wing Democrats took control of Congress, the national debt stood at $9 trillion.
Based on Obama’s overview of his $4 trillion $1.75 trillion deficit budget, the chart predicts that, by 2010 — after the Democrats have controlled congress for only four years, the national debt will stand at $17.6 trillion. That is very nearly double the $8.67 trillion debt the Democrats “inherited.”
Moe Lane
Steve Maley
Dan McLaughlin
Neil Stevens
Daniel Horowitz
Pot meet kettle
deltar (Diary) Friday, February 27th at 1:44PM EST (link)And they are both black.
Pot meet kettle
deltar (Diary) Friday, February 27th at 1:44PM EST (link)And they are both black.
No wonder Obama's not taking advice from an administration that doubled debt in 8 yrs
6eorge Jetson (Diary) Friday, February 27th at 2:32PM EST (link)when Barack can do it in two!
Barack loves his pets
6eorge Jetson (Diary) Friday, February 27th at 2:49PM EST (link)Anyone notice...?
fmaidment (Diary) Friday, February 27th at 6:02PM EST (link)If you go to the actual USA Today article, you can mouse-over the graph shown above. If you do so, you’ll see that our debt at the end of this year will total $15.7 trillion.
Our economy is currently about $14.3 trillion.
In other words, for the first time in over a century, perhaps the first time since the founding of our nation, our national debt will be greater than the sum of our economy. In finance speak, we’ll be upside-down in debt. Mortgage bankers call this “under water.”
Oh, and it’s easy to “halve the deficit…”
…When you nearly quadruple it in the first year…
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“I would rather be exposed to the inconveniences attending too much liberty than to those attending too small a degree of it.”
– - Thomas Jefferson, to Archibald Stuart, 1791
Whose kettle?
GreyCloak (Diary) Saturday, February 28th at 3:04AM EST (link)It only took Republicans seven years to double the debt:
09/30/2001 $5,807,463,412,200.06 (last day of Clinton budgets)
09/30/2008 $10,024,724,896,912.49 (penultimate Bush budget)
January 31, 2009: ~$10,632,080,000,000
Unfortunately, we’ve done it before:
09/30/1981 $997,855,000,000
...oops, continued
GreyCloak (Diary) Saturday, February 28th at 3:10AM EST (link)09/29/1989 2,857,430,960,187.32
Reagan years from here.
It will be easy for Obama to “half the deficit” in a year or two … this year should see the greatest deficit in history … but the debt continues to grow, non-stop.
Plenty of people on both sides of the aisle have been lying about “fiscal responsibility” for decades.
Thanks
Woody Saturday, February 28th at 11:27AM EST (link)Thanks for a more honest look GreyCloak.
I can see the pros/cons regarding the stimulus package, but let’s be honest about what happened to the national debt and deficit spending under the Bush administration.